Systemic Risk and Prudential Regulation in the Global Economy

Xavier Freixas
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Xavier Freixas: Universitat Pompeu Fabra and Center for Economic Policy Research, Spain

Chapter 10 in Globalization and Systemic Risk, 2009, pp 145-167 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionThe Cost–Benefit Analysis of the Safety NetDirect benefits of bailoutsPreventing contagionIndirect contagionThe cost of a bailoutThe International Safety Net: Preventing the International Interbank Market GridlockCost–Benefit Analysis of a Multinational Bank BailoutPerfect informationA unique regulatorDecentralization with two countriesImplementing the Bailout of a Multinational BankOptimal ex post decisionThe ex post mechanismImprovised cooperationNoncommitment and truthful revelationProxy-based mechanismsAsymmetric information and regulatory cooperationRegulatory ImplicationsReferences

Keywords: Globalization; Banking; Financial Markets; Systemic Risk; Financial Crisis; Contagion (search for similar items in EconPapers)
Date: 2009
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