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Cournot fire sales
Eisenbach, Thomas M.; Phelan, Gregory - 2018
illiquid assets or underprovision of liquidity. We investigate whether imperfect competition (Cournot) improves welfare through … internalizing the externality and find that this is far from guaranteed. In a standard model of liquidity shocks, when liquidity is … sufficiently scarce, Cournot competition leads to even less liquidity than the Walrasian equilibrium. In a standard model of …
Persistent link: https://www.econbiz.de/10011806238
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Credit risk transfer and de facto GSE reform
Finkelstein, David L.; Strzodka, Andreas; Vickery, James - 2018
disrupting the liquidity or stability of mortgage secondary markets. In the process, the programs have created a new financial … market for pricing and trading mortgage credit risk, which has grown in size and liquidity over time. The CRT programs …
Persistent link: https://www.econbiz.de/10011806244
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Cournot fire sales
Eisenbach, Thomas M.; Phelan, Gregory - 2018
Persistent link: https://www.econbiz.de/10011891520
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Cournot fire sales
Eisenbach, Thomas M.; Phelan, Gregory - 2020
Persistent link: https://www.econbiz.de/10012390902
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Bank resolution : a framework for the assessment of regulatory intervention
Dewatripont, Mathias; Freixas, Xavier - In: Oxford review of economic policy 27 (2011) 3, pp. 411-436
Persistent link: https://www.econbiz.de/10009577894
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Banking reform
Jackson, Patricia; Davies, Howard; Miles, David; … - SUERF Conference on Banking Reform <2015, London>; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011554963
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Regulatory Bankruptcy : How Bank Regulation Causes Firesales
Woo, Sarah P. - 2011
Bankruptcy policy has long been founded upon the assumption that creditors seek to maximize the value of their assets. The radical changes that have swept over the banking sector over the last two decades, however, have rendered this assumption unreliable. Banks, which are responsible for the...
Persistent link: https://www.econbiz.de/10013128012
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Regulatory Forbearance in the Supervision of Property-Casualty Insurers in the U.S : Implications for and the Effects on Outcomes for 'Distressed' Companies
Klein, Robert W. - 2018
In this paper, we discuss our research on the effects of regulatory forbearance on the outcomes for high-risk and distressed property-casualty insurance companies. A fundamental question that has been examined in the extant literature is whether greater regulatory forbearance tends to increase...
Persistent link: https://www.econbiz.de/10012907576
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When Time Is Not on Our Side : The Costs of Regulatory Forbearance in the Closure of Insolvent Banks
Cole, Rebel A. - 2017
In this paper, we empirically estimate the costs of delay in the FDIC's closures of 433 commercial banks between 2007 and 2014 based upon a counterfactual closure regime. We find that the costs of delay could have been as high as $18.5 billion, or 37% of the FDIC's estimated costs of closure of...
Persistent link: https://www.econbiz.de/10012970582