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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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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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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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Gambling traps
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011959253
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Financial Stability, Resolution of Systemic Banking Crises and COVID-19 : Toward an Appropriate Role for Public Support and Bailouts
Arner, Douglas W. - 2020
A wide range of approaches has been applied to address banking and other financial crises. The nature of the approach depends on the nature of the crisis, its origins, evolution and context. Systemic banking crises are among the most common and costly to address. The experiences of the three...
Persistent link: https://www.econbiz.de/10012826832
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Private overborrowing under sovereign risk
Arce, Fernando - 2022
This paper proposes a quantitative theory of the interaction between private and public debt in an open economy. Excessive private debt increases the frequency of financial crises. During such crises the government provides fiscal bailouts financed with risky public debt. This response may cause...
Persistent link: https://www.econbiz.de/10013194400
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Did Connected Hedge Funds Benefit From Bank Bailouts During the Financial Crisis?
Faff, Robert W. - 2019
We examine whether connected hedge funds (i.e. those that are prime-brokerage clients of bailout banks) benefited from … bailout programs initiated in seven countries during the 2007–2009 financial crisis. We find that being connected to a bailout … smaller during the post bailout period, for example, due to the greater risk-taking and higher leverage of such funds …
Persistent link: https://www.econbiz.de/10012906178
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Bailouts and Moral Hazard : How Implicit Government Guarantees Affect Financial Stability
Mariathasan, Mike - 2014
The recent crisis has shown that systemically relevant banks in distress are likely to benefit from governmental support. This reduces their downside risk and leads to moral hazard, i.e. to incentives for these banks to assume excessive risks. In this paper we show empirically that implicit...
Persistent link: https://www.econbiz.de/10013049033
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Has "too big to fail" been solved? : a longitudinal analysis of major U.S. banks
Thosar, Satish; Schwandt, Bradley - In: Journal of risk and financial management : JRFM 12 (2019) 1/24, pp. 1-14
In the wake of the global financial crisis that erupted in 2008, there has been extensive commentary and regulatory focus on the 'Too Big to Fail' issue. In this paper, we survey the proposed solutions and regulatory initiatives that have been undertaken. We conduct a longitudinal analysis of...
Persistent link: https://www.econbiz.de/10012022346
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Contagion and spillovers : new insights from the crisis : a joint publication with the Austrian Society for Bank Research
Backé, Peter (ed.); Gnan, Ernest (ed.);  … - Contagion and Spillovers – New Insights from the …; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011706561