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Interbank market integration under asymmetric information
In: Working paper series 74
Credit Growth, Rational Bubbles and Economic Efficiency
In: Comparative economic studies, Band 60, Heft 1, S. 87-104
ISSN: 1478-3320
Post-crisis challenges to bank regulation
In: Economic policy, Band 25, Heft 62, S. 375-399
ISSN: 1468-0327
Systemic Risk and Prudential Regulation in the Global Economy
In: World Scientific Studies in International Economics; Globalization and Systemic Risk, S. 145-167
L'effet d'irréversibilité dans le choix de grands projets
In: Revue économique, Band 38, Heft 1, S. 149-156
ISSN: 1950-6694
Une analyse coût-avantage des mécanismes d'allocation : l'approche prix-quantités
In: Revue économique, Band 32, Heft 6, S. 1074-1086
ISSN: 1950-6694
Comparaison de mécanismes d'allocation
In: Revue économique, Band 32, Heft 5, S. 870-886
ISSN: 1950-6694
Disclosure, transparency, and market discipline
The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis. We consider two main sources of information to the market, financial statements and information provided by credit rating agencies. We examine how these sources of information work and the effectiveness of their disclosure process during the crisis. Contrary to the commonly held view, fair value accounting did not have a major impact on the crisis development and severity. However, the structure and lack of accountability of credit rating agencies had a profound impact on their incentives, which may have jeopardized the accuracy of the whole rating process. We claim that the crisis experience has changed the way we think about information as well as market discipline and discuss policy implications and proposals for regulation.
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Banking, finance, and the role of the state
In: Oxford review of economic policy, Band 27, Heft 3, S. 397-410
ISSN: 1460-2121
Bank resolution: a framework for the assessment of regulatory intervention
In: Oxford review of economic policy, Band 27, Heft 3, S. 411-436
ISSN: 1460-2121
Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information
In: Journal of political economy, Band 108, Heft 2, S. 324-351
ISSN: 1537-534X
Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information
In: Journal of political economy, Band 108, Heft 2, S. 324
ISSN: 0022-3808