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to (i) the liquidity regulation of AMs and (ii) the solvency regulation of IIs can improve upon the competitive …
Persistent link: https://www.econbiz.de/10012511085
Persistent link: https://www.econbiz.de/10012176770
While the old systems competition took place with closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...
Persistent link: https://www.econbiz.de/10011408441
Regulation and competition policy are two alternative modalities by which the state intervenes in the market. In order … varieties of market failures and identify those for which regulation is best address (cooperation failures such as The Fishing … regulation in jurisdictions where institutions are weak. The reasons are: information intensity and asymmetry being greater with …
Persistent link: https://www.econbiz.de/10011635985
This paper analyzes the private production of safe assets and its implications for financial stability. Financial intermediaries (FIs) originate loans, exert hidden effort to improve loan quality, and create safe assets by issuing debt backed by the safe payments from (i) their own loans and...
Persistent link: https://www.econbiz.de/10015340223
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to (i) the liquidity regulation of AMs and (ii) the solvency regulation of IIs can improve upon the competitive …
Persistent link: https://www.econbiz.de/10012515466
crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding … regulation may interfere with the central bank's influence on short-term money market rates. This paper tries to fill the gap in … asymmetric information. Regulation can be welfare-improving in the presence of an externality and also in case of collateral …
Persistent link: https://www.econbiz.de/10010342820
In the recent financial crisis, risk management tools have been proven inadequate. Model risk, a key component of bank risk, has shown its negative impact. It seems that risk models did not cover the included risks comprehensively and were not kept up-to-date by banks, and also rating agencies....
Persistent link: https://www.econbiz.de/10010339401
of self-regulation and possible regulatory responses through existing competition policy, consumer protection and data …
Persistent link: https://www.econbiz.de/10011980703