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Interbank network and bank bailouts : insurance mechanism for non-insured creditors?
Eisert, Tim; Eufinger, Christian - 2013
the interbank market. Using a simple network structure, it shows that if there is a non-zero bailout probability, banks …
Persistent link: https://www.econbiz.de/10010226037
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Interbank network and bank bailouts : insurance mechanism for non-insured creditors?
Eisert, Tim; Eufinger, Christian - 2014
This paper presents a new theory that explains why it is beneficial for banks to be highly interconnected and to engage in herding behavior. It shows that these two important causes of systemic risk are interdependent and thus cannot be considered in isolation. The reason is that banks have an...
Persistent link: https://www.econbiz.de/10012061003
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Is size everything?
Antill, Samuel; Sarkar, Asani - 2018
time series and the cross section. TSIZE-implied subsidies increase around the bailout of Continental Illinois in 1984 and …
Persistent link: https://www.econbiz.de/10011894404
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Credit Insurance, Bailout and Systemic Risk
Kishore, Kaushalendra - 2018
This paper studies the impact of expectation of bailout of a credit insurance firm on the investment strategies of the … correlated investments ex ante. All banks want their assets to fail exactly at the time when the bailout is occurring to … indirectly benefit from the bailout of the insurance firm and hence they make correlated investments. I build a model in which …
Persistent link: https://www.econbiz.de/10012907457
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The European sovereign debt crisis : what have we learned?
Kräussl, Roman; Lehnert, Thorsten; Stefanova, Denitsa - 2017
This paper sets the background for the Special Issue of the Journal of Empirical Finance on the European Sovereign Debt Crisis. It identifies the channel through which risks in the financial industry leaked into the public sector. It discusses the role of the bank rescues in igniting the...
Persistent link: https://www.econbiz.de/10011588156
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The UBS-Credit Suisse Merger : Helvetia's Gift
Böni, Pascal; Kroencke, Tim-Alexander; Vasvari, Florin P. - 2023
at the expense of taxpayers: the merger-bailout has increased Switzerland’s sovereign credit risk, resulting in an …
Persistent link: https://www.econbiz.de/10014349670
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Bail-Ins Versus Bail-Outs : Using Contingent Capital to Mitigate Systemic Risk
Coffee, John C. - 2010
Persistent link: https://www.econbiz.de/10013138295
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Spillovers from systemic bank defaults
Mink, Mark; Haan, Jakob de - 2014
We examine to what extent banks' stock market values during the 2007-2012 financial crisis were driven by increases in the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that bank market values hardly respond to changes in the...
Persistent link: https://www.econbiz.de/10010354063
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Transatlantic systemic risk
Gehde-Trapp, Monika; Wewel, Claudio Nicolai - 2013 - This version: June 12, 2013
In this paper we study systemic risk for the US and Europe. We show that banks' exposures to common risk factors are crucial for systemic risk. We come to this conclusion by first showing that relations between US and European banks are smaller than within each region. We then show that European...
Persistent link: https://www.econbiz.de/10009784871
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The 'Celtic crisis' : guarantees, transparency and systemic liquidity risk
König, Philipp; Anand, Kartik; Heinemann, Frank - 2013
Bank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence and prevent bank runs. However, as the experiences of some European countries, most notably Ireland, have demonstrated, the credibility and effectiveness of these guarantees are...
Persistent link: https://www.econbiz.de/10009788961