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I study rollover risk in the wholesale funding market when intermediaries can hold liquidity ex ante and are subject to fire sales ex post. Precautionary liquidity restores multiple equilibria in a global rollover game. An intermediate liquidity level supports both the usual run equilibrium and...
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securities regulation. The discussion offers two theses: one descriptive and the other normative. Descriptively, drawing on … institutional approaches to the study of regulation, I show how regulatory systemic risk emerges in the US securities regulatory …
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A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes … macroprudential tools, and surveys the effectiveness of existing macroprudential regulation. … FinancialCrises -- 7 Measuring Systemic Risk -- 8 Systemic Risk and Microprudential Regulation -- 9 Systemic Risk and Macroprudential …
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Based on the author's post-doctoral project conducted at the Montesquieu Institute at Maastricht University from 2009-2012. Parts of this book were presented in conferences and workshops in Maastricht (The Netherlands), Oxford (UK), Leuven (Belgium), Herztliya (Israel), Tallinn (Estonia) and...
Persistent link: https://www.econbiz.de/10010517421
occur in the future? This book draws on some of the world's leading experts on financial stability and regulation to examine …"In late 2008, the world's financial system was teetering on the brink of systemic collapse. While the impacts of the …-in tools; and bank leverage, welfare and regulation. Drawing on experts across disciplines — including Howell Jackson, John …
Persistent link: https://www.econbiz.de/10012028552