Bail-Ins Versus Bail-Outs: Using Contingent Capital to Mitigate Systemic Risk

نویسندگان

چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Bank Bonuses and Bail-Outs

This paper shows that bonus contracts may arise endogenously as a response to agency problems within banks, and analyzes how compensation schemes change in reaction to anticipated bail-outs. If there is a risk-shifting problem, bail-out expectations lead to steeper bonus schemes and even more risk-taking. If there is an effort problem, the compensation scheme becomes flatter and effort decrease...

متن کامل

Bail-in Capital: The New Box

In this paper, we discuss the paradigm shift in bank capital from the “gone concern” to the “going concern” mindset. We then propose a methodology for pricing a product of this shift called Contingent Capital Notes (“CoCos”). The Merton Model can determine a price for credit risk by using the firm’s equity value as a call option on those assets. Our pricing methodology for CoCos also uses the c...

متن کامل

Do Bail Information Schemes Really Affect Bail Decisions?

Bail Information Schemes gather and provide information on a defendant’s community ties to the court. Past evaluations have concluded that schemes are effective because more defendants are granted bail. However, the evaluations include possible confounds and other limitations, thus threatening the validity of their findings. They are also incompatible with research showing that magistrates do n...

متن کامل

Pigou Tax of Systemically Important Financial Intermediaries (SIFIs) In Financial Networks: An Empirical Application of Systemic Risk Monitoring and Governance

Macro-prudential policy is concerned with mitigating system wide risks arising from negative externalities from monetary and financial activities. The need to design a Pigou tax to control systemic risk from financial intermediaries (FIs) has come to the forefront after extensive tax payer bail outs in the aftermath of the 2007 financial crisis. Holistic visualization of the financial system us...

متن کامل

To bail-out or to bail-in? Answers from an agent-based model

Peter Klimek, Sebastian Poledna, J. Doyne Farmer, Stefan Thurner1,3,4,∗ Section for Science of Complex Systems; Medical University of Vienna; Spitalgasse 23; A-1090; Austria Institute for New Economic Thinking at the Oxford School and Mathematical Institute, Eagle House, Walton Well Rd., University of Oxford OX2 3ED; UK Santa Fe Institute; 1399 Hyde Park Road; Santa Fe; NM 87501; USA IIASA, Sch...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2010

ISSN: 1556-5068

DOI: 10.2139/ssrn.1675015