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Persistent link: https://www.econbiz.de/10013159841
Like the rest of the world, Spain has suffered from frequent financial crises and undergone several changes in its regulatory framework. There have been crises that have been followed by reforms of the financial structure, and also troubled financial times with no modification of the regulatory...
Persistent link: https://www.econbiz.de/10013104100
This paper challenges the prevailing view of the efficacy of harmonization of international financial regulation and provides a mechanism for facilitating regulatory diversity and experimentation within the existing global regulatory framework. the Basel accords. Recent experience suggests that...
Persistent link: https://www.econbiz.de/10013090480
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This paper addresses several key issues regarding the recent Great Crisis 2007-2009. The main ones are: was the financial crisis predictable by standard economic models? If not, are these models lacking of forecasting capabilities, or it is not a task of economic models to predict external...
Persistent link: https://www.econbiz.de/10013109571
Persistent link: https://www.econbiz.de/10012963587
Bank executives' compensation has been widely identified as a culprit in the Global Financial Crisis, and reform of … incentives, empirical research fails to show any correlation between bank CEO equity incentives and bank performance in the … Financial Crisis. We offer an alternative analysis, hypothesizing that bank CEOs' inside debt incentives correlate with reduced …
Persistent link: https://www.econbiz.de/10013095013
We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed regulatory balance sheet data for U.S. commercial banks and repo market data for broker-dealers. Even for moderate shocks in normal times, fire-sale externalities can be substantial. For...
Persistent link: https://www.econbiz.de/10010202672
The research points out that the role of traditional bank is in decline. Banks are losing their predominant role as … type and range of firms conducting banking business. It also affects the definition of the “bank”, arising questions like … what precisely a bank is, what the nature of a bank is, and what functions are really performed by a bank in an economic …
Persistent link: https://www.econbiz.de/10013072598
The urgency of estimating the impact of climate risks on the financial system is increasingly recognized among scholars and practitioners. By adopting a network approach to financial dependencies, we look at how climate policy risk might propagate through the financial system. We develop a...
Persistent link: https://www.econbiz.de/10012855741