efficient. Implications for welfare and regulation therefore depend highly on the nature of the shocks and the competitiveness …

This article explores the effect of delays in updating prudential regulation on countries' likelihood of experiencing … banking crises, and it disentangles the impact of different aspects of regulation on crisis onset. I argue that delays in … revising banks' prudential regulation allow banks to adopt risky behavior. This increases a country's vulnerability to systemic …

information from trading the contract can improve conventional tools of financial regulation (e.g., bank examinations, capital …