CII Introduction: how much financial services regulation is appropriate to protect the public while promoting a free market has been a key debate within the industry and government in recent years, especially after the financial crisis and on the eve of a general election.[...]

Lack of transparency in securitization transactions significantly contributed to thesevere financial crisis of 2007–2009. To increase transparency we—based on arecent idea by Markowitz (2009)—propose an incentive compatible mechanismfor future securitization transactions: financial claims...

Bank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence and stave off bank runs. However, as the experience of some European countries, most notably Ireland, has demonstrated, the credibility and effectiveness of these guarantees is...

To answer the question what causes an asset to be illiquid, we analyze the impact that transparency of corporate accounting information has on the liquidity of its traded bonds. In particular, we focus on how this relationship depends on aggregate liquidity and the financial state of the firm....

The recent stunning failure of banks has put regulatory intervention high on the agenda of governments. Adequate risk monitoring, including by credit rating agencies, as well as measurement and management have proven a daunting task, whereas regulation of innovative financial instruments has not...

Bank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence and stave off bank runs. However, as the experience of some European countries, most notably Ireland, has demonstrated, the credibility and effectiveness of these guarantees is...