in the form of the Bank Recovery and Resolution Directive. The paper discusses the anti-bailout objective of the two …

postponing default; 2) a positive probability of bail-out destroys credibility with dramatic effects on financial risk-taking, to …

The financial crisis renewed the debate on the bailout of financial institutions, questioning the effectiveness of such …

those investors facing losses. The anticipation of such a "bailout" distorts ex ante incentives, leading intermediaries to …

the resulting drop in bank charter values translated into higher risk-taking at German savings banks. -- Public bail-out …

resources to augment the private consumption of those investors facing losses. The anticipation of such a "bailout" distorts ex …

resources to augment the private consumption of those investors facing losses. The anticipation of such a “bailout” distorts ex …

We examine whether connected hedge funds (i.e. those that are prime-brokerage clients of bailout banks) benefited from … bailout programs initiated in seven countries during the 2007–2009 financial crisis. We find that being connected to a bailout … smaller during the post bailout period, for example, due to the greater risk-taking and higher leverage of such funds …