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Die vorliegende Arbeit sucht mögliche Wege, einige Kernfragen der Bankenregulierung anzugehen. Zunächst analysieren wir … Liquiditätsrisikos begründet. Wir zeigen, dass die unregulierte Ökonomie in einer Bankenkrise endet, wenn ein schwerer negativer … makroökonomischer Schock diese Ökonomie erschüttert. Die grossen Wohlfahrtsverluste, die durch die Bankenkrise verursacht werden, geben …
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I develop a theoretical model for investigating the cost of failure to commit in the provision of bailouts to financial institutions. When a financial institution fails, the fiscal authority often deviates from its ex ante no-bailout commitment: the ex post best response is to bail out. The...
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This paper contributes to the debate on liquidity in resolution by providing a quantitative assessment of liquidity gaps of banks in resolution in the euro area. It estimates possible ranges of liquidity gaps for significant banks under different assumptions and scenarios. The findings suggest...
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Bank bailouts are not the "one-shot" events commonly described in the literature. These bailouts are instead dynamic processes in which regulators "catch" financially distressed banks; "restrict" their activities over time; and "release" the banks from restrictions at sufficiently healthy capital...
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We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest in non-liquid assets. Market clearing takes place through a tâtonnement process which yields the equilibrium price, while traded quantities are determined by means of a...
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