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Emergence of rating agencies : implications for establishing a regional rating agency in Asia
Ying Yi Tsai; Liu, Li-gang - 2010
The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrants into the credit rating market. In an incomplete contracting...
Persistent link: https://www.econbiz.de/10008732353
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Regulatory arbitrage and the efficiency of banking regulation
Boyer, Pierre C.; Kempf, Hubert - 2016
We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where …
Persistent link: https://www.econbiz.de/10011458020
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Disagreement-Based Trading and Speculation : Implications for Financial Regulation and Economic Theory
Biondi, Yuri - 2011
Lynn Stout's paper on Risk, Speculation, and OTC Derivatives: An Inaugural Essay for Convivium develops an insightful legal-economic analysis of speculative trading. From one hand, the paper discusses the legal-economic framework of speculation and its recent transformation, making reference to...
Persistent link: https://www.econbiz.de/10013130175
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Emergence of Rating Agencies : Implications for Establishing a Regional Rating Agency in Asia
Tsai, Yingyi - 2010
The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrant into the credit rating market. In an incomplete contracting...
Persistent link: https://www.econbiz.de/10013138530
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Informational Failures in Structured Finance and Dodd-Frank's 'Improvements to the Regulation of Credit Rating Agencies'
McNamara, Steven R. - 2012
Regulation of Credit Rating Agencies” in light of the massive failures in the ratings of structured finance securities leading up …
Persistent link: https://www.econbiz.de/10013101758
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Central Supervision of Local Financial Regulators
Schroth, Josef - 2019
I study central supervision of local financial regulators in an economic union. Regulators each privately observe benefits from lenient local macroprudential policies. Separate deposit insurance funds allow no discretion to set policies because, with integrated financial markets, regulators...
Persistent link: https://www.econbiz.de/10012899109
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Risk-Insensitive Regulation
Bleck, Alexander - 2018
Banking is risky and prone to failure. Yet banking regulation is surprisingly not all that risk-sensitive in practice …. I show that when the bank has an informational advantage over the regulator, designing risk-sensitive banking regulation … gives rise to a trade-off: relying on the banking market for information to refine regulation improves bank risk-taking but …
Persistent link: https://www.econbiz.de/10012935624
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A Microfounded Design of Interconnectedness-Based Macroprudential Regulation
Fique, Jose - 2015
“additional loss absorbency requirement” for these institutions. Motivated by this instrument of macroprudential regulation, which …
Persistent link: https://www.econbiz.de/10013023492
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Politically Robust Financial Regulation
Agur, Itai - 2021
The deferred recognition of COVID-induced losses at banks in many countries hasreignited the debate on regulatory forbearance. This paper presents a model where thepublic's own political pressure drives regulatory policy astray, because the public is poorlyinformed. Using probabilistic game...
Persistent link: https://www.econbiz.de/10013243078
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Risk-Insensitive Regulation
Bleck, Alexander - 2017
Banking is risky and prone to failure. Yet banking regulation is surprisingly not all that risk-sensitive in practice …. I show that when the bank has an informational advantage over the regulator, designing risk-sensitive banking regulation … gives rise to a trade-off: relying on the banking market for information to refine regulation improves bank risk-taking but …
Persistent link: https://www.econbiz.de/10012946325