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Sovereign risk and bank fragility
Anand, Kartik; Mankart, Jochen - 2020
We develop a model of bank risk-taking with strategic sovereign default risk. Domestic banks invest in real projects and purchase government bonds. While an increase in bond purchases crowds out profitable investments, it improves the government's incentives to repay and therefore lowers its...
Persistent link: https://www.econbiz.de/10012301195
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Uncertain booms and fragility
Lee, Michael Junho - 2018
I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: "normal times", periods of modest investment, and "booms", periods of expansionary investment. Normal times occur when the...
Persistent link: https://www.econbiz.de/10011880642
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Warding Off Financial Market Failure : How to Avoid Squeezed Margins and Bad Haircuts
Longworth, David - 2012
Regulators aiming to ward off the next financial market failure need to implement rules to smooth the boom-bust cycle in margin requirements and haircuts used in securities financing and derivative transactions, which seriously exacerbated the last financial crisis. In this study, the author...
Persistent link: https://www.econbiz.de/10013115282
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Shadow banking : a review of the literature
Adrian, Tobias; Ashcraft, Adm B. - 2012
We provide an overview of the rapidly evolving literature on shadow credit intermediation. The shadow banking system consists of a web of specialized financial institutions that conduct credit, maturity, and liquidity transformation without direct, explicit access to public backstops. The lack...
Persistent link: https://www.econbiz.de/10009657601
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Governance, economic restructuring, and international competitiveness
Traxler, Franz - In: Journal of economic issues : jei 28 (1994) 1, pp. 1-23
Persistent link: https://www.econbiz.de/10001163225
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Theoretische Analyse der Krise auf den Verbriefungsmärkten und Ableitung von Maßnahmen zur Revitalisierung des Marktes für True Sale-Transaktionen in Deutschland
Schöning, Stephan; Rutsch, Jan Christian - 2010
Persistent link: https://www.econbiz.de/10013436383
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Interessenkonflikte und Anreizverzerrungen auf dem Ratingmarkt
Mann, Florian - 2015 - 1. Aufl.
Persistent link: https://www.econbiz.de/10010509662
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The limits of model-based regulation
Behne, Markus Wilhelm; Haselmann, Rainer; Vig, Vikrant - 2014
In this paper, we investigate how the introduction of complex, model-based capital regulation affected credit risk of … financial institutions. Model-based regulation was meant to enhance the stability of the financial sector by making capital … introduce the model-based approach. Counter to the stated objectives, the introduction of complex regulation adversely affected …
Persistent link: https://www.econbiz.de/10010403970
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The limits of model-based regulation
Behn, Markus; Haselmann, Rainer; Vig, Vikrant - 2014
In this paper, we investigate how the introduction of complex, model-based capital regulation affected credit risk of … financial institutions. Model-based regulation was meant to enhance the stability of the financial sector by making capital … introduce the model-based approach. Counter to the stated objectives, the introduction of complex regulation adversely affected …
Persistent link: https://www.econbiz.de/10010436805
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CoCo Design, Risk Shifting Incentives and Capital Regulation
Chan, Stephanie - 2017
on the extent of dilution after conversion. We integrate the analysis in a game-theoretic optimal capital regulation …
Persistent link: https://www.econbiz.de/10012970139