Finansal istikrarsızlık kavramı finans sisteminin temel işlevlerini yerine getirmemesi nedeniyle reel kesimin işleyişini olumsuz yönde etkilemesi olarak tanımlanabilir. Dolayısıyla, finansal istikrarın sağlanması için makro amaçlara ulaşmak üzere sistemi oluşturan mikro...

In this paper, we analyze the price setting behavior of banks in the Swiss franc repo market by means of network topology concepts and measures. The sample ranges from October 1999 to December 2009. Hence, it covers a large part of the money market turmoil that started in August 2007. Among...

This paper investigates possible options for generating revenue in international unions. The empirical evidence is found for three types of revenue-generating schemes: contributions, direct taxes, and the combination of two. Discussion of peculiarities, advantages and shortcomings of each scheme...

This policy brief examines issues associated with the design and implementation of regulatory policymaking in interconnected financial markets. The policy brief explains why international interdependence among nations’ financial markets and regulations can provide an incentive for national...

This policy brief assesses the implications of Basel II for bank regulatory compliance costs. In spite of widespread complaints by bankers about the costs of complying with Basel II rules, the academic literature has given surprisingly little attention to quantifying these costs. The brief...

This policy brief reviews recent studies that have sought to apply analysis of network externalities and the theory of two-sided markets to card payment networks, and it evaluates the public policy implications of this body of work. Three general conclusions emerge from the bulk of the research...

This paper discusses and critically appraises recent developments in the definition, measurement, and regulation of systemic risks. Although the issue of systemic risks has been subjected to considerable study, there is not widespread agreement on how to define this concept. Initial efforts to...

The application of U.S. antitrust policy toward mergers in the banking industry is based on past research suggesting that there is a trade-off between adverse effects on consumer welfare owing to potentially augmented market power and possible welfare-improving effects arising from efficiency...

The title "shadow banking system" sounds pejorative and certainly is in the minds of most people who work in or watch the business of money and credit. In the world of subprime real estate, abuse of private financial vehicles with insurance enhancements and ratings led to the collapse of the...

To be effective, programs of regulatory reform must address the incentive conflicts that intensify financial risk-taking and undermine government insolvency detection and crisis management. Subsidies to risk taking that large institutions extract from the financial safety net encourage managers...