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  1. Essays in market microstructure
    Published: 2023

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Dissertation
    Format: Online
    Other identifier:
    hdl: 20.500.14171/107741
    5247
    Subjects: Geldmarkt; Wertpapierpensionsgeschäft; Interbankgeschäft; Geldpolitik; EMIR; collateral; tiered reserves; quantitative easing; Basler Eigenkapitalvereinbarung (2010); Repurchase agreement; Eurogeldmarkt; Basel III; Basel 3; Repo
    Scope: 1 Online-Ressource (circa 115 Seiten), Illustrationen
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    Dissertation, University of St.Gallen, 2022

  2. Can it be prevented this time?
    the role of profits in banking regulation
    Published: June 2023
    Publisher:  Levy Economics Institute, Annandale-on-Hudson, NY

    Since the nineties, crises have punctuated financial markets, shattering the conventional wisdom about how these markets work and how to regulate them, and forcing a deep rethinking of the supervisory framework that, however, did not change much of... more

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    DS 88
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    Since the nineties, crises have punctuated financial markets, shattering the conventional wisdom about how these markets work and how to regulate them, and forcing a deep rethinking of the supervisory framework that, however, did not change much of the banks’ behavior and incentives. In particular, banking regulation did not face the nexus profitability-riskiness. Based on Minsky’s financial instability hypothesis, we discuss the literature on banks’ profitability and its relation to the originate-to-distribute model. We also propose a different strategy for banking regulation, based on a profitability cap that prevents financial innovation from overwhelming supervision. Finally, we discuss the data for the US case, confirming the importance of profitability as a signal of incoming troubles and the possibility of using the profitability cap to greatly simplify banking regulation.

     

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/283212
    Series: Working paper / Levy Economics Institute of Bard College ; no. 1021
    Subjects: banking regulation; financial stability; Minsky; Basel 3; profitability
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen