Banks without parachutes: Competitive effects of government bail-out policies
نویسندگان
چکیده
منابع مشابه
Banks without Parachutes - Competitive Effects of Government Bail-out Policies
The explicit or implicit protection of banks through government bail-out policies is a universal phenomenon. We analyze the competitive effects of such policies in two models with different degrees of transparency in the banking sector. Our main result is that the bail-out policy unambiguously leads to higher risk-taking at those banks that do not enjoy a bail-out guarantee. The reason is that ...
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ژورنال
عنوان ژورنال: Journal of Financial Stability
سال: 2010
ISSN: 1572-3089
DOI: 10.1016/j.jfs.2009.05.006