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The capital and loss assessment under stress scenarios (CLASS) model

Hirtle, Beverly J.; Kovner, Anna; Vickery, James; … - 2014

The CLASS model is a top-down capital stress testing framework that projects the effect of different macroeconomic … industry capital gap relative to a target ratio at different points in time under a common stressful macroeconomic scenario …. This estimated capital gap began rising four years before the financial crisis and peaked at the end of 2008. The gap has …

Persistent link: https://www.econbiz.de/10010247370

Measures of the riskiness of banking organizations: Subordinated debt yields, risk-based capital, and examination ratings

Evanoff, Douglas D.; Wall, Larry D. - 2001

capital requirements as a preferred means to discipline the risk-taking behavior of systemically important banks. One such … guidelines introduced in U.S. banking legislation in the early 1990s. Currently such action is prompted by bank capital ratios …

Persistent link: https://www.econbiz.de/10010397404

Empirical studies of financial innovation: lots of talk, little action?

Frame, W. Scott; White, Lawrence J. - 2002

This paper reviews the extant empirical studies of financial innovation. Adopting broad criteria, the authors found just two dozen studies, over half of which (fourteen) had been conducted since 2000. Since some financial innovations are examined by more than one study, only fourteen distinct...

Persistent link: https://www.econbiz.de/10010397405

Financial crises in emerging markets: a canonical model

Chang, Roberto; Velasco, Andres - 1998

sufficient condition for financial crises to occur. Domestic financial liberalization and capital flows from abroad (especially …

Persistent link: https://www.econbiz.de/10010397417

Why didn't the United States establish a central bank until after the panic of 1907?

Moen, Jon R.; Tallman, Ellis W. - 1999

Monetary historians conventionally trace the establishment of the Federal Reserve System in 1913 to the turbulence of the Panic of 1907. But why did the successful movement for creating a U.S. central bank follow the Panic of 1907 and not any earlier National Banking Era panic? The 1907 panic...

Persistent link: https://www.econbiz.de/10010397472

Financial fragility and the exchange rate regime

Chang, Roberto; Velasco, Andres - 1997

We study financial fragility, exchange rate crises, and monetary policy in an open economy version of a Diamond-Dybvig model. The banking system, the exchange rate regime, and central bank credit policy are seen as parts of a mechanism intended to maximize social welfare; if the mechanism fails,...

Persistent link: https://www.econbiz.de/10010397526

Financial regulatory structure and the resolution of conflicting goals

Wall, Larry D.; Eisenbeis, Robert A. - 1999

The debate over modernizing the financial structure is raising questions about the merits of modernizing the financial regulatory structure. Regulatory structure is important because an almost unavoidable feature of our current system of government is that Congress assigns multiple goals that...

Persistent link: https://www.econbiz.de/10010397527

On government credit programs

Espinosa-Vega, Marco; Smith, Bruce D.; Yip, Chong K. - 1998

Credit rationing is a common feature of most developing economies. In response to it, the governments of these countries often operate extensive credit programs and lend, either directly or indirectly, to the private sector. We analyze the macroeconomic consequences of a typical government...

Persistent link: https://www.econbiz.de/10010397530

Are there optimal multiple reserve requirements?

Espinosa, Marco; Russell, Steven - 1996

A number of developing countries have adopted deficit-finance regimes involving multiple reserve requirements. One question the previous literature on this phenomenon has not addressed is whether multiple-reserves regimes can improve on regimes involving single-currency-reserve requirements if...

Persistent link: https://www.econbiz.de/10010397531

The Asian liquidity crisis

Chang, Roberto; Velasco, Andres - 1998

A country's financial system is internationally illiquid if its potential short-term obligations in foreign currency exceed the amount of foreign currency it can have access to in short notice. This condition may be necessary and sufficient for financial crises and/or exchange rate collapses...

Persistent link: https://www.econbiz.de/10010397536

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