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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
, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory … 2007, and especially in the euro area after 2010. That crisis triggered major changes to European financial regulation and …
Persistent link: https://www.econbiz.de/10011561790
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
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
Can tight and centralized financial regulations prevent financial crises? Governments usually respond to financial crises with tightening and centralizing financial regulations. In this paper, we explore the historical parallels between the governmental responses to the financial crises at the...
Persistent link: https://www.econbiz.de/10013097966
-based legislation - and the frequent principles-based regulation underpinned by such legislation - represents a stark departure from … regulation in Hong Kong - in the form of a Twin Peaks regulatory structure. A focus on the objectives of achieving financial …
Persistent link: https://www.econbiz.de/10010493935
This chapter of the forthcoming Oxford Handbook of Financial Regulation considers, in broad historical perspective and … financial crises and regulation. It begins with an overview of financial crises generally, and then considers both the … historical and potential future role of regulation in financial crises. It discusses various theories of the roots of financial …
Persistent link: https://www.econbiz.de/10013054054
Persistent link: https://www.econbiz.de/10012929415
Financial regulation today is largely framed by traditional business categories. The financial markets, however, have … problems addressed by (but now beyond the reach of) current regulation, and the rise of new problems that reflect change in how … financial regulation, in light of recent changes in the financial system, and offer a tentative way forward to address gaps in …
Persistent link: https://www.econbiz.de/10013151563
Inadequate regulation of the financial system is widely thought to have contributed to the financial crisis. The … purpose of the book is to articulate a framework within which financial regulation can be analysed in a coherent and … regulation is best understood in the context of an appreciation of the entire financial system. Third it is international and …
Persistent link: https://www.econbiz.de/10012937668