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institutional roof - banks or non-bank (shadow) banks - under which they are conducted. Our results reveal a declining role of banks … (and a commensurate increase in non-bank banking). These structural shifts (between institutions) are coincident with …
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The path between financial meltdown and moral hazard in banking is, at best, narrow and impervious. During the financial crisis, public support became the standard response to save the banks in difficulty, heightening and broadening the moral hazard issue: subordinated/senior debt holders and...
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bank-government link has turned more destructive, prompting proposals to break it for good. Some of these proposals may …
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We model bank management actions in severe stress test conditions using a game-theoretical framework. Banks update …
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