Acharya, Viral V. (contributor); … - 2004
induced systemic risk.
1
1 Introduction
Historically, central banks evolved as a response to wide-spread banking crises … likelihood of systemic banking crises.
Specifically, time-consistent (or subgame-perfect) regulation of banks suffers from a “too … becomes more likely that some banks would have to be
liquidated to investors outside the banking sector resulting in a loss of …