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Commission, the European Central Bank and the IMF for action that would help bring Ireland and other stressed euro zone countries … liquidity dried up, countries such as Ireland with fragile and overextended credit environments, overpriced asset markets, and … accommodative regulatory systems were vulnerable to the resulting shock waves. This case explores Ireland's economic and financial …
Persistent link: https://www.econbiz.de/10012904846
Although the US credit crisis precipitated it, the Irish credit crisis is an identifiably separate one, which might have occurred in the absence of the U.S. crash. The distinctive differences between them are notable. Almost all the apparent causal factors of the U.S. crisis are missing in the...
Persistent link: https://www.econbiz.de/10013147076
question, I use firm-level data and firm-bank linkages to estimate the causal effect of an imported lending cut from a large … German bank on firms' capital structure and real outcomes. The estimates imply that for every 1 euro reduction in debt …
Persistent link: https://www.econbiz.de/10015179796
This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method,...
Persistent link: https://www.econbiz.de/10010228497
Why do some banks fail in financial crises while others survive? This article answers this question by analysing the effect of the Dutch financial crisis of the 1920s on 142 banks, of which 33 failed. We find that choices of balance sheet composition and product market strategy made in the...
Persistent link: https://www.econbiz.de/10010357612
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
concentration indices (k bank concentration ratios (CR5) and the Herfindahl-Hirschman indices (HHI)).Empirical analysis shows that …
Persistent link: https://www.econbiz.de/10013096327
After briefly reviewing the major changes in the financial structure as well as the focal events that characterized the 2007-2008 global financial crisis, this paper considers the evidence for the crucial role played by misaligned incentives. Presumably because compensation was predicated on...
Persistent link: https://www.econbiz.de/10013104455
We examine the effects of opacity on bank valuation and the synchronicity of bank equity prices over the years 2000 … rise in bank equity share prices, decrease in transparent asset holdings by banks, and greater price synchronicity …
Persistent link: https://www.econbiz.de/10013070815
Opacity fosters price contagion that exacerbates the speculative cycles of bubbles and crashes that create financial instability. We find that banks with larger investments in opaque assets benefitted more from intra-industry revaluations associated with announcements of mergers in the period...
Persistent link: https://www.econbiz.de/10013116850