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TARP and Market Discipline : Evidence on the Moral Hazard Effects of Bank Recapitalizations
Forssbæck, Jens - 2015
We examine the moral hazard effects of bank recapitalizations by assessing the impact of the U.S. TARP program on … market discipline exerted by subordinated debt-holders using a sample of 123 bank holding companies over the period 2004 …
Persistent link: https://www.econbiz.de/10013013698
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Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)
Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
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Bank Lobbying as a Financial Safety Net : Evidence from the Post-Crisis U.S. Banking Sector
Asai, Kentaro - 2020
This paper argues that creditors reflect the financial-safety-net aspect of bank lobbying, plausibly considering the … connection between bank lobbying and government bailouts. Using a structural approach, I show that bank lobbying is negatively … associated with the occurrence of a run-like equilibrium, as is deposit insurance. The estimated effect on bank risk and value is …
Persistent link: https://www.econbiz.de/10012852488
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Financial Sector Reform after the Crisis : Has Anything Happened?
Schäfer, Alexander - 2013
We analyze the reaction of stock returns and CDS spreads of banks from Europe and the United States to four major regulatory reforms in the aftermath of the subprime crisis, employing an event study analysis. In contrast to the public perception that nothing has happened, we find that financial...
Persistent link: https://www.econbiz.de/10013081106
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Rollover risk, liquidity and macroprudential regulation
Ahnert, Toni - 2014
I study rollover risk in the wholesale funding market when intermediaries can hold liquidity ex ante and are subject to fire sales ex post. Precautionary liquidity restores multiple equilibria in a global rollover game. An intermediate liquidity level supports both the usual run equilibrium and...
Persistent link: https://www.econbiz.de/10010360348
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Joining up prudential and resolution regulation for systemically important banks
Ebner, André; Westhoff, Christiane - 2024
We set out a stylised framework for the policies enacted to address the risks posed by systemically important institutions (SIIs) and to counter the too-big-to-fail (TBTF) problem, examining conceptually how far supervisory and resolution policies are complementary or substitutable. The...
Persistent link: https://www.econbiz.de/10015071011
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Is a Stable Financial System Possible?
Turnbull, Shann - 2019
used to define the value of trade and investment contracts on a decentralized basis without a central bank. Contracts …
Persistent link: https://www.econbiz.de/10012894728
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Is a Stable Financial System Possible?
Turnbull, Shann - 2018
used to define the value of trade and investment contracts on a decentralized basis without a central bank. Contracts …
Persistent link: https://www.econbiz.de/10012931273
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Taming macroeconomic instability : monetary and macro prudential policy interactions in an agent-based model
Popoyan, Lilit; Napoletano, Mauro; Roventini, Andrea - 2015
We develop an agent-based model to study the macroeconomic impact of alternative macro prudential regulations and their possible interactions with different monetary policy rules. The aim is to shed light on the most appropriate policy mix to achieve the resilience of the banking sector and...
Persistent link: https://www.econbiz.de/10011404599