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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w16787 |
来源ID | Working Paper 16787 |
Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession | |
Santiago Carbo-Valverde; Edward J. Kane; Francisco Rodriguez-Fernandez | |
发表日期 | 2011-02-10 |
出版年 | 2011 |
语种 | 英语 |
摘要 | This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003-2008. Our results suggest that difficult-to-fail and unwind (DFU) banks enjoyed substantially higher ex ante benefits than other institutions. Safety-net benefits prove significantly larger for DFU firms in Europe and bailout decisions less driven by asset size than in the US. We also find that a proxy for regulatory capture helps to explain bailout decisions in Europe. A policy implication of our findings is that authorities could better contain safety-net benefits if they refocused their information systems on measuring volatility as well as capital. |
主题 | Financial Economics ; Financial Institutions ; Corporate Finance ; Other ; Law and Economics |
URL | https://www.nber.org/papers/w16787 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574462 |
推荐引用方式 GB/T 7714 | Santiago Carbo-Valverde,Edward J. Kane,Francisco Rodriguez-Fernandez. Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession. 2011. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w16787.pdf(252KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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