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All Things Considered: The Interaction of the Reasons for the Financial Crisis
Rioja, Abdala; E, Yamile - Volkswirtschaftliche Fakultät, … - 2011
The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...
Persistent link: https://www.econbiz.de/10009294924
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¿Cómo deberíamos regular el capital bancario y los productos financieros? ¿Cuál es el papel de los “testamentos en vida”?
Goodhart, Charles - In: Revista de Economía Institucional 12 (2010) July-December, pp. 85-109
Financial regulation is normally imposed in reaction to some prior crisis, rather than founded on theoretical principle. In the past, regulation has been deployed to improve risk management practices in individual banks. This was misguided. Instead, regulation should focus first on systemic...
Persistent link: https://www.econbiz.de/10008765018
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Macroprudential Policy and Its Instruments in a Small EU Economy
Frait, Jan; Komarkova, Zlatuse - Česká Národní Banka - 2012
This paper focuses on the way the macroprudential policy framework in a small EU economy should be designed. With reference to the experience of the Czech Republic's financial system and the Czech National Bank it provides definitions of financial stability and macroprudential policy as well as...
Persistent link: https://www.econbiz.de/10010833278
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The economic crisis: Did supervision architecture and governance matter?
Masciandaro, Donato; Pansini, Rosaria Vega; Quintyn, Marc - In: Journal of Financial Stability 9 (2013) 4, pp. 578-596
Since the mid-1990s worldwide efforts were undertaken to improve the effectiveness of financial supervision, through modifications in the architecture and governance. Did these improvements mitigate the 2008–2009 Crisis? This paper brings the first systematic analysis of the role of three main...
Persistent link: https://www.econbiz.de/10011046543
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Auf der Suche nach der optimalen Finanzmarktaufsicht
Hartung, Thomas; Sell, Friedrich L. - Fakultät für Wirtschafts- und … - 2008
Quo der Finanzmarktaufsicht in Deutschland/Europa wird in seiner Funktionsweise geschildert, Schwächen und Stärken werden … Finanzmarktaufsicht. Diese werden herangezogen, um drei unterschiedliche Szenarien zu bewerten und zu vergleichen: Den Status Quo, eine … von den nationalen Notenbanken und der EZB dominierte Finanzmarktaufsicht sowie ein drittes, synthetisches Szenario für …
Persistent link: https://www.econbiz.de/10008462114
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Institutions Matter: Financial Supervision Architecture, Central Bank and Path Dependence. General Trends and the South Eastern European Countries
Masciandaro, Donato; Quintyn, Marc - Bank of Greece - 2008
We propose a path dependence approach to analyze the evolution of the financial supervisory architecture, focusing on the institutional role of the central bank, and then apply our framework to describe the institutional settings in a selected sample of countries. The policymaker who decides to...
Persistent link: https://www.econbiz.de/10005523536
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Globale Krise und Herausforderung für Österreich
Aiginger, Karl - FIW - 2009
Die Weltwirtschaft ist 2009 zum ersten Mal seit Mitte des vorigen Jahrhunderts nicht gewachsen. Die Wirtschaftsleistung dürfte um 2% zurückgegangen sein, in den Industrieländern um 3,5%. Dies war die Folge der Finanzkrise, sie hat zu einem Einbruch des Welthandels mit Folgen auf alle...
Persistent link: https://www.econbiz.de/10008495507
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Which Growth Model for Central and Eastern Europe after the Crisis?
Landesmann, Michael A. - FIW - 2010
This Policy Brief discusses the growth prospects of the Central and Eastern European (CEEC) region following the current economic crisis. It argues that the 'integration model of growth' of the CEEC region was characterised by a very high degree of external liberalisation. In one group of...
Persistent link: https://www.econbiz.de/10008580012
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Jointly optimal regulation of bank capital and maturity structure
Walther, Ansgar - Department of Economics, Oxford University - 2014
Banks create excessive systemic risk through leverage and maturity mismatch, as financial constraints introduce welfare-reducing pecuniary externalities.  Macroprudential regulators can achieve efficiency with simple linear constraints on banks' balance sheets, which require less information...
Persistent link: https://www.econbiz.de/10011004424
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Credit ratings in structured finance and the role of systemic risk
Violi, Roberto - Banca d'Italia - 2010
This paper explores the implications of systemic risk in Credit Structured Finance (CSF). Risk measurement issues loomed large during the 2007-08 financial crisis, as the massive, unprecedented number of downgrades of AAA senior bond tranches inflicted severe losses on banks, calling into...
Persistent link: https://www.econbiz.de/10008677911