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Reforming Financial Systems after the Crisis : A Comparison of EU and USA

Masera, Rainer Stefano - 2011

Since July 2007, the developed countries faced the most serious and disruptive crisis after the 1929 Great Depression. As the crisis unfolded, policy authorities stepped in to support troubled financial institutions with large bailouts. This prevented a meltdown of the system, but at the cost of...

Persistent link: https://www.econbiz.de/10013126707

The Market Structure of Securitisation and the US Housing Bubble

Wachter, Susan M. - 2015

Housing finance, and, specifically, the subprime private label securitisation market in the US, was at the epicentre of the global financial crisis. Excessive debt expansion in the run-up to the crisis resulted in credit risk, under-identified and mispriced ex ante, and in systemic risk. This...

Persistent link: https://www.econbiz.de/10013032217

Trust: A Concept Too Many

Guinnane, Timothy W. - 2005

Research on 'trust' now forms a prominent part of the research agenda in history and the social sciences. Although this … research has generated useful insights, the idea of trust has been used so widely and loosely that it risks creating more … confusion than clarity. This essay argues that to the extent that scholars have a clear idea of what trust actually means, the …

Persistent link: https://www.econbiz.de/10010369194

Trust : a concept too many

Guinnane, Timothy - 2005

Research on "trust" now forms a prominent part of the research agenda in history and the social sciences. Although this … research has generated useful insights, the idea of trust has been used so widely and loosely that it risks creating more … confusion than clarity. This essay argues that to the extent that scholars have a clear idea of what trust actually means, the …

Persistent link: https://www.econbiz.de/10011610585

Comovements and Asymmetric Tail Dependence in State Housing Prices in the US : A Nonparametric Approach

Huang, Haitao - 2019

We re-examine the methods used in estimating comovements among U.S. regional home prices and find that there are insufficient moments to ensure a normal limit necessary for employing the quasi-maximum likelihood estimator. Hence, we propose applying the self- weighted quasi-maximum exponential...

Persistent link: https://www.econbiz.de/10012898436

The Reduction of Systemic Risk in the United States Financial System

Scott, Hal S. - 2010

The central problem for financial regulation is reducing systemic risk. Systemic risk is the risk that the failure of one significant institution can cause or significantly contribute to the failure of other significant institutions. This paper addresses the five most important policies for...

Persistent link: https://www.econbiz.de/10013143703

A Costly Mistake for Investors, US Capital Markets, and Growth : Evidence from the Exclusion of Dual-Class Stocks from Popular Indices

Deluard, Vincent - 2022

On July 31, 2017, S&P Dow Jones Indices announced it would no longer add companies with multiple share classes to its flagship S&P 500 index. This decision was designed to protect index fund investors against unequal voting rights structures, but it has already lowered investors’ returns and...

Persistent link: https://www.econbiz.de/10014361315

Bank Supervision in the U.S. and the G-10 : Implications for Basel II

Nolle, Daniel E. - 2012

The author compares the U.S. with other G-10 countries regarding key aspects of permissible banking activities. One conclusion is that banks in the U.S. face greater restrictions, and possibly more intensive supervisory oversight, than do banks in most other G-10 countries. Second, the majority...

Persistent link: https://www.econbiz.de/10013112113

Are Foreign Banks Out-Competing U.S. Banks in the U.S. Market?

Nolle, Daniel E. - 2012

The market share of foreign-owned banks (subsidiaries, branches, and agencies) in the United States grew dramatically during the 1980s and early 1990s, amid fears that foreign banks were out-competing U.S.-owned banks in their home market. However, more recent data show that growth of the market...

Persistent link: https://www.econbiz.de/10013112116

Skin-in-the-game in ABS transactions : a critical review of policy options

Krahnen, Jan Pieter; Wilde, Christian - 2017

This paper applies the theory of structured finance to the regulation of asset backed securities. We find the current regulation in Europe (Article 405 of the CRR) and the US (Section D of Dodd-Frank Act) to be severely flawed with respect to its key intention: the imposition of a strict loss...

Persistent link: https://www.econbiz.de/10011593319