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models with different degrees of transparency in the banking sector. Our main result is that the bail-out policy … other banks' margins. In contrast, the effects on the protected bank's risk taking and on welfare depend on the transparency …
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decisions to agents, whose actual decision rules are opaque. We show that the responder will benefit from strategic opacity …, even with bilateral delegation. The incomplete information created by strategic opacity choices does not lead to …
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the competitive effects of such policies in two models with different degrees of transparency in the banking sector. Our … and on welfare depend on the transparency of the banking sector. …
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decisions to agents, whose actual decision rules are opaque. We show that the responder will benefit from strategic opacity …, even with bilateral delegation. The incomplete information created by strategic opacity choices does not lead to …
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