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Regulators' Irrational Rationality and Bankers' Rational Irrationality : Too Big to Fail, Self-Regulation, Moral Hazard and the Global Financial Crisis, 2007-2009
Umlauft, Thomas S. - 2018
then proceeds by detailing how an ill-designed policy framework, relying on supposed market approaches to regulation … – including self-regulation and credit rating agencies – enabled TBTF financial institutions to game the system and thereby …
Persistent link: https://www.econbiz.de/10012937724
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Finance and Politics : A Review Essay Based on Kenneth Dam's Analysis of Legal Traditions in the Law-Growth Nexus
Roe, Mark J. - 2015
Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam, in the Law-Growth Nexus, finds that the legal tradition view inaccurately portrays how...
Persistent link: https://www.econbiz.de/10013039325
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Financial Stability, Regulatory Buffers, and Economic Growth : Some Postrecession Regulatory Implications
Tymoigne, Eric - 2010
financial regulation, and for its implementation. Indeed, the goal becomes developing a regulatory structure that minimizes the … alternative regulatory framework and proposes a fundamental shift in the way financial regulation is performed, similar to what …
Persistent link: https://www.econbiz.de/10013135771
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When 'No News' is Bad News : Complexity and Uncertainty in the Global Crisis of 1914
Fohlin, Caroline - 2016
I use the global crisis of 1914 as a window onto the phenomenon of investor reaction to complex news — such as sudden political upheaval. Based on a novel database of all stocks traded on the NYSE during 1914, along with “real-time” news accounts from major newspapers, I show that NYSE...
Persistent link: https://www.econbiz.de/10012978570
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Credit market choice
Boyarchenko, Nina; Costello, Anna M.; Shachar, Or - 2018
Which markets do institutions use to change exposure to credit risk? Using a unique data set of transactions in corporate bonds and credit default swaps (CDS) by large financial institutions, we show that simultaneous transactions in both markets are rare, with an average institution having an...
Persistent link: https://www.econbiz.de/10011894384
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Bank deregulation, competition and economic growth : the US free banking experience
Ager, Philipp; Spargoli, Fabrizio - 2013
We exploit the introduction of free banking laws in US states during the 1837-1863 period to examine the impact of removing barriers to bank entry on bank competition and economic growth. As governments were not concerned about systemic stability in this period, we are able to isolate the...
Persistent link: https://www.econbiz.de/10010227307
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Civil Liability of Rating Agencies - Regulatory All-or-Nothing Approaches between Immunity and Over-Deterrence
Haar, Brigitte - 2013
European Commission's Draft Proposal to amend the EU-Rating Regulation, could possibly be eliminated by procedural presumptions …
Persistent link: https://www.econbiz.de/10013088984
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Law, Bubbles, and Financial Regulation - Chapter 1 - The Regulatory Instability Hypothesis
Gerding, Erik F. - 2019
Persistent link: https://www.econbiz.de/10012905124
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Principles of Financial Regulation
Armour, John - 2018
Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The … purpose of the book is to articulate a framework within which financial regulation can be analysed in a coherent and … regulation is best understood in the context of an appreciation of the entire financial system. Third it is international and …
Persistent link: https://www.econbiz.de/10012937668
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Historical Perspectives on the Financial Crisis : Ivar Kreuger, the Credit-Rating Agencies, and Two Theories About the Function, and Dysfunction, of Markets
Partnoy, Frank - 2010
This Essay discusses two historical parallels between the current financial crisis and the financial crisis of the late 1920s and 1930s. First, financial innovation was at the core of both crises. In particular, the machinations of Ivar Kreuger illuminate how financial innovation tends to...
Persistent link: https://www.econbiz.de/10013148212