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Consequences of Uncertainty for Regulation : Law and Economics of the Financial Crisis
Pacces, Alessio M. - 2010
This article analyzes the last financial crisis focusing on the recurrent dynamics of externalities in banking. It shows that two major determinants of the crisis were the uncertainty of a new form of financial intermediation and the failure of regulation to cope with its externalities....
Persistent link: https://www.econbiz.de/10013136479
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Uncertainty, Liquidity, and Financial Crisis
Pacces, Alessio M. - 2013
This paper investigates the determinants of liquidity crises based on the dynamics of banking and finance under uncertainty. The explanatory power of this framework is tested against the events of the global financial crisis. Despite limited availability of data that can proxy for uncertainty,...
Persistent link: https://www.econbiz.de/10013092072
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Modeling Systemic Risks in Financial Markets
Rej, Abhijnan - 2013
systemic risk in terms of coupled networks.Systemic risk to financial markets is often defined as the risk of a major and rapid … different class of risk agents in the market face, distinct from more conventional kinds of primary and secondary risks due to a …
Persistent link: https://www.econbiz.de/10013072670
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Global Risks and Collective Action Failures : What Can the International Community Do?
Otker-Robe, Inci - 2014
What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...
Persistent link: https://www.econbiz.de/10013043705
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Uncertainty and the Financial Crisis
Pacces, Alessio M. - 2010
The majority of commentators, along with the public opinion, are inclined to identify the causes of the last financial crisis in a combination of traditional market and regulatory failures in the operation and regulation of financial markets. Whatever cannot be explained along these lines is...
Persistent link: https://www.econbiz.de/10013147262
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Geopolitical risks and their impact on global macro-financial stability : literature and measurements
Hodula, Martin; Janků, Jan; Malovaná, Simona; Ngoc Anh Ngo - 2024
heightened risk aversion, leading to shifts in investment portfolio allocations and cross-border capital flows; a nd t he r eal e …
Persistent link: https://www.econbiz.de/10015065805
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Risk sharing in the presence of a public good
Schroth, Josef - 2015
This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents' relative preference for private versus public good consumption. I show how private good consumption should be coordinated...
Persistent link: https://www.econbiz.de/10011302006
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Prominent numbers, indices and ratios in exchange rate determination and financial crashes : in Economists' models, in the field and in the laboratory
Pope, Robin; Selten, Reinhard; Kube, Sebastian; Hagen, … - 2009
knowledge ahead faced under risk and uncertainty, namely models under the umbrella of SKAT, the Stages of Knowledge Ahead Theory …
Persistent link: https://www.econbiz.de/10003867227
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Bank loan announcements and borrower stock returns before and during the recent financial crisis
Li, Chunshuo; Ongena, Steven - 2014 - This Draft: March, 2014
The impact of U.S. bank loan announcements on the stock prices of the corporate borrowers has been decreasing during the two last decades with estimated two-day cumulative abnormal returns slipping from almost 200 basis points in the beginning of the 1980s to close to zero by the turn of the...
Persistent link: https://www.econbiz.de/10010412303
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Post-crisis bank liquidity risk management disclosure
Asongu, Simplice A. - 2010
Purpose - This work seeks to investigate post-crisis measures banks have adopted in a bid to manage liquidity risk. It … financial meltdown. During the crisis, liquidity risk management disclosure was crucial for confidence building in market … participants. Design/methodology/approach - The study investigates if Basel II pillar 3 disclosures on liquidity risk management …
Persistent link: https://www.econbiz.de/10011410556