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has partial control over bank regulation it can exercise regulatory lenience. Two, the Fed's stronger output orientation … procyclical capital regulation …
Persistent link: https://www.econbiz.de/10013141874
The market turmoil in March 2020 highlighted key vulnerabilities in the EU money market fund (MMF) sector. This paper assesses the effectiveness of the EU's regulatory framework from a financial stability perspective, based on a panel analysis of EU MMFs at a daily frequency. First, we find that...
Persistent link: https://www.econbiz.de/10014236736
We analyse the cross-border propagation of prudential regulation in the euro area. Using the Prudential Instruments …
Persistent link: https://www.econbiz.de/10012869770
countries, we find that: (i) competition-enhancing regulation is associated with a higher rate of firm churning; (ii) business … regulation can be indirectly associated, via its impact on business dynamism, with the somewhat weak productivity performance in …
Persistent link: https://www.econbiz.de/10012858445
Macroeconomic studies suggest that employment-output elasticities in the euro area increased during the recovery from the crisis, especially in those countries that implemented reforms. In this paper, we use micro (individual-level) data from the Eurostat Labour Force Survey to investigate...
Persistent link: https://www.econbiz.de/10013315346
using a sample of European securitization tranches issued in the period 2011-2021. European regulation is based on the …
Persistent link: https://www.econbiz.de/10014349343
We study a model of financial intermediation, payment choice, and privacy in the digital economy. Cash preserves anonymity but cannot be used for more efficient online transactions. By contrast, bank deposits can be used online but do not preserve anonymity. Banks use the information contained...
Persistent link: https://www.econbiz.de/10013288804
Will EMU accelerate or retard structural reform in labour and product markets? The theoretical literature is ambiguous. New descriptive evidence provided in this paper suggests that euro-area countries have made relatively good progress in structural reform. However, it is much less clear...
Persistent link: https://www.econbiz.de/10012780843
This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated … apply our results to scenarios with unregulated agents/activities, uniform regulation across agents/activities, and costly … regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …
Persistent link: https://www.econbiz.de/10014076773
How to conduct macro-prudential regulation? How to coordinate monetary policy and macro-prudential policy? To address …
Persistent link: https://www.econbiz.de/10012917168