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Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when organizations fail, the effect of complexity on BHCs' broader...
Persistent link: https://www.econbiz.de/10012619507
Economists have extensively analyzed the regulation of banks and the banking industry, but have devoted considerably … "supervision" and "regulation" interchangeably. This paper provides a heuristic review of the economics literature on … activity distinct from regulation (rulemaking) is just now emerging and has considerable room to grow. Meanwhile, the empirical …
Persistent link: https://www.econbiz.de/10012619529
This paper characterizes the run behavior of sophisticated (institutional) and unsophisticated (retail) investors by studying the runs on prime money market funds (MMFs) of March 2020, at the beginning of the COVID-19 pandemic. For both U.S. and European institutional prime MMFs, the runs were...
Persistent link: https://www.econbiz.de/10012619533
complicated insurance mandates. Overall, our findings speak to the unintended consequences of (well-intentioned) regulation. They …
Persistent link: https://www.econbiz.de/10013330027
. Microprudential regulation of banks plays a role, influencing leverage and capitalization, changing sensitivities to shocks, and also …
Persistent link: https://www.econbiz.de/10014581735
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality inputs, as oligopolistic...
Persistent link: https://www.econbiz.de/10013151395
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality inputs, as oligopolistic...
Persistent link: https://www.econbiz.de/10012463435
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality inputs, as oligopolistic...
Persistent link: https://www.econbiz.de/10014026038
Three years have passed since the Bank of Japan’s asset purchase program was introduced in 2011, causing a sharp decline in the value of the Japanese Yen. What would be the implications for Japan and Korea’s exporters if the weak Yen is here to stay? We explore this question by examining...
Persistent link: https://www.econbiz.de/10011447113
Persistent link: https://www.econbiz.de/10012700371