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-prediction should be a mainstay of financial regulation …
Persistent link: https://www.econbiz.de/10008797062
, and a balanced approach to restructuring and regulation among different types of financial institutions. The paper also …
Persistent link: https://www.econbiz.de/10003982933
fragmented financial regulatory structure is not worse than under integrated regulation. This implies that financial regulatory …
Persistent link: https://www.econbiz.de/10003983440
has partial control over bank regulation it can exercise regulatory lenience. Two, the Fed's stronger output orientation … procyclical capital regulation. - Monetary policy ; capital regulation ; crisis …
Persistent link: https://www.econbiz.de/10003986675
Finanzkrise vorgeschlagen oder bereits politisch umgesetzt worden sind. …
Persistent link: https://www.econbiz.de/10003922564
crisis, after the crisis started, politicians became increasingly vocal in demanding regulation. Initially, these demands … were confined to a more binding form of self-regulation. But as the crisis progressed, the calls for state regulation grew … ever louder. It became apparent after the November 2008 G-20 summit in Washington that state regulation could no longer be …
Persistent link: https://www.econbiz.de/10003928094
This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crisis. A pecuniary externality entails that banks' desire to accumulate capital over time...
Persistent link: https://www.econbiz.de/10009691196
We model the behavior of dealers in Over-the-Counter (OTC) derivatives markets where a small number of dealers trade with a continuum of heterogeneous clients (hedgers). Imperfect competition and (endogenous) default induce a familiar trade-off between competition and risk. Increasing the number...
Persistent link: https://www.econbiz.de/10009668404
A 2012 paper by Goodhart, Kashyap, Tsomocos, and Vardoulakis (GKTV) proposes a dynamic general equilibrium framework that provides a conceptual - and to some extent quantitative - framework for the analysis of macroprudential policies. The distinguishing feature of GKTV's paper relative to any...
Persistent link: https://www.econbiz.de/10009669924
Since July 2007 the world economy has experienced a severe financial crisis originating in the U.S. housing market. The crisis has subsequently spread to the financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises...
Persistent link: https://www.econbiz.de/10003843236