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This paper extends the model proposed by Goodhart, Sunirand, and Tsomocos (2003,2004a, b) to an infinite horizon setting. Thus, we are able to assess how the model conforms with the time series data of the U.K. banking system. We conclude that, since the model performs satisfactorily, it can be...
Persistent link: https://www.econbiz.de/10005729993
This paper introduces a dynamic general equilibrium model to study how the distribution of leverage and foreclosure affect house prices.The model shows how foreclosure sales, through their effect on housing supply, amplify and propagate house price drops. A calibration shows consumption and...
Persistent link: https://www.econbiz.de/10012972483
The global increase in the regulation of banks has encouraged the channeling of investment funds into less regulated …
Persistent link: https://www.econbiz.de/10012023353
as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that … regulation ; financial development ; emerging markets ; financial inclusion …
Persistent link: https://www.econbiz.de/10009153059
second set is intended to address potential too-big-to-fail problems by imposing prudential regulation on systemically … forces of hedge fund regulation across the Atlantic, ultimate policy outcomes were significantly divergent. Primarily … gave birth to indirect regulation of hedge funds with a focus on their interconnectedness with LCFIs. This is mainly …
Persistent link: https://www.econbiz.de/10012855060
We analyze the partisanship of Securities and Exchange Commissioners (SEC) and members of the Federal Reserve Board of Governors (Fed) using the language-based approach of Gentzkow, Shapiro, and Taddy (Econometrica, 2019). The level of partisanship among these regulators is greater than that of...
Persistent link: https://www.econbiz.de/10012859933
A repurchase agreement (repo) is the sale of financial assets coupled with a promise to repurchase the same assets at a later date. With similar economic characteristics to secured loans and bank deposits, the repo market is one of the main sources of liquidity for the financial system. Having...
Persistent link: https://www.econbiz.de/10012935843
. We find that financial regulation and limited capital capacity significantly affect liquidity provision. Mutual funds …
Persistent link: https://www.econbiz.de/10012904096
This paper considers the debate about the "macro-prudential regulation" of finance in the context of a broader view of … dominant families of ideas about finance and its regulation share a failure of institutional imagination. Neoclassical … productive agenda of society. The fourth idea is that the regulation of finance, including what we now call macro …
Persistent link: https://www.econbiz.de/10013092132
Persistent link: https://www.econbiz.de/10013073172