Bank bailouts, international linkages and cooperation

Verfasserangabe:  Friederike Niepmann; Tim Schmidt-Eisenlohr
Jahr: 
Beschreibung:  Financial institutions are increasingly linked internationally. As a result, financial crisis and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation losses and intra- and inter-country income inequality, in the non-cooperative game between governments there are inefficiencies due to externalities, no burden sharing and free-riding. We show that, in absence of cooperation, stronger interbank linkages make government interests diverge, whereas cross-border asset holdings tend to align them. We analyze different forms of cooperation and their effects on global and national welfare. -- bailout ; contagion ; financial crisis ; international institutional arrangements
Person:  ;
Ort/Verlag:  München : CESifo
Umfang:  Online-Ressource (PDF-Datei: 40 S., 370 KB); graph. Darst.
Schriftenreihe:  CESifo working paper / MONETARY POLICY AND INTERNATIONAL FINANCE ; 3384CESifo working paper / MONETARY POLICY AND INTERNATIONAL FINANCE ; 3384
Sprache:  Englisch
Thema:  Finanzmarktkrise; Financial crisis; Bankenkrise; Banking crisis; Schuldenübernahme; Bailout; Ansteckungseffekt; Contagion; Internationale wirtschaftspolitische Koordination; Economic policy coordination
Klassifikation:  jel-F360; jel-F420; jel-G010; jel-G280
Dokumentart (Subkategorien):  Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature
Publikationsform:  Buch / Working Paper
Anmerkungen:  Systemvoraussetzungen: Acrobat Reader; Parallel als Druckausg. erschienen
Nachweis aus Datenbank:  ECONIS - Online-Katalog der ZBW
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