restore the efficiency of equilibria. -- illiquid markets ; default ; incomplete markets ; price distortions ; inefficient …

An ongoing debate in the literature on efficiency of higher education institutions concerns the indicator for research …. We show that there is a high correlation of efficiency values between the estimations using these indicators; however …

We develop a model where banks invest in reserves and loans, and face aggregate liquidity shocks. Banks with liquidity … financial stability. The structure of liquidity shocks affects the severity and the occurrence of crises, as well as the amount …

In the presence of macroeconomic shocks severe enough to threaten the liquidity or solvency of the banking system, the …

economies. Theories of optimal taxation conclude that these taxes are detrimental to production efficiency, when firms operate … production units. The present paper investigates the effects of taxation on production efficiency, accounting for the … effect of this "tax induced organizational change" on production efficiency ultimately depends on the characteristics of the …

The proposed revision of the Swiss Banking Act introduces a public liquidity backstop (PLB) for distressed systemically … incentives of bank shareholders and management. A PLB, like too-big-tofail (TBTF) status, acts as a subsidy for non …

banks have used size as a barrier to entry to the new entrants in the post-deregulation period. Furthermore, bank efficiency …This study considers the efficiency of banking in Australia during the post-deregulation period 1988-2001. Since 1986 … restrictions upon foreign bank entry and foreign ownership have been affectively abolished. Using Data Envelopment Analysis (DEA …

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging … evidence of an historical increase in market liquidity since the early 1990s, in part as a result of advances in international … financial integration, but markets have been increasingly exposed to global systemic liquidity shocks. Second, liquidity …

conditions, credit default and bank capitalization for the transmission of macroeconomic shocks. We fit the model to euro area … empirical literature, i.e. the pro-cyclicality of bank profitability and the counter-cyclical response of firm default rates and …