全球智库信息集成服务系统(G2TT): DP9502 Financial Sector Reform After the Crisis: Has Anything Happened?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP9502
	DP9502 Financial Sector Reform After the Crisis: Has Anything Happened?
	Isabel Schnabel; Beatrice Weder di Mauro; Alexander Schäfer
发表日期	2013-06-09
出版年	2013
语种	英语
摘要	We analyze the reactions 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 markets indeed reacted to the structural reforms enacted at the national level. All reforms succeeded in reducing bail-out expectations, especially for systemic banks. However, banks' profitability was also affected, showing up in lower equity returns. The strongest effects were found for the Dodd-Frank Act (especially the Volcker rule), whereas market reactions to the German restructuring law were small.
主题	Financial Economics ; International Macroeconomics
关键词	Dodd-frank act Event study Financial sector reform Financial stability German restructuring law Swiss too-big-to-fail regulation Vickers reform Volcker rule
URL	https://cepr.org/publications/dp9502
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/538338
推荐引用方式 GB/T 7714	Isabel Schnabel,Beatrice Weder di Mauro,Alexander Schäfer. DP9502 Financial Sector Reform After the Crisis: Has Anything Happened?. 2013.