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Trade-offs in Bank Resolution

Trade-offs in Bank Resolution »

Source: Trade-offs in Bank Resolution

Volume/Issue: 2018/2

Series: Staff Discussion Notes

Author(s): Giovanni Dell'Ariccia , Maria Martinez Peria , Deniz Igan , Elsie Addo Awadzi , Marc Dobler , and Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2018

ISBN: 9781484341001

Keywords: Spillovers, Bank bailouts, bank insolvency, bail-outs, bail-ins, larger capital buffers, Bank resolution, Financial regulation

This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buf...

Bailout and Conglomeration1

Bailout and Conglomeration1 »

Source: Bailout and Conglomeration

Volume/Issue: 1999/108

Series: IMF Working Papers

Author(s): Se-Jik Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

ISBN: 9781451853087

Keywords: bailout, liquidation, conglomerates, entrepreneur, entrepreneurs, entrepreneurship, individual entrepreneurs

The paper suggests that when firms differ stochastically in their productivity, a bank may find it optimal not to bail out the failed nonconglomerate firms at all, but to bail out conglomerates fully. Expectation o...

Bailouts and Systemic Insurance

Bailouts and Systemic Insurance »

Source: Bailouts and Systemic Insurance

Volume/Issue: 2013/233

Series: IMF Working Papers

Author(s): Giovanni Dell'Ariccia , and Lev Ratnovski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 November 2013

ISBN: 9781475514742

Keywords: Bailouts, contagion, banking, bank risk, bank risk taking, Government Policy and Regulation,

We revisit the link between bailouts and bank risk taking. The expectation of government support to failing banks creates moral hazard—increases bank risk taking. However, when a bank’s success depend...

Household Wealth and Resilience to Financial Shocks in Italy1

Household Wealth and Resilience to Financial Shocks in Italy1 »

Source: Household Wealth and Resilience to Financial Shocks in Italy

Volume/Issue: 2018/196

Series: IMF Working Papers

Author(s): Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2018

ISBN: 9781484374894

Keywords: Europe, Italy, Flow of funds, financial linkages, balance sheet analysis, bail-in, bailout, Portfolio Choice

High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction...

The Dynamics of Sovereign Debt Crises and Bailouts

The Dynamics of Sovereign Debt Crises and Bailouts »

Source: The Dynamics of Sovereign Debt Crises and Bailouts

Volume/Issue: 2016/136

Series: IMF Working Papers

Author(s): Francisco Roch , and Harald Uhlig

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781475581027

Keywords: Default, Bailouts, Self-fulfilling Crises, Endogenous Borrowing Constraints, Long-term Debt, OMT, Eurozone Debt Crisis.

Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspo...

How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis

How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis »

Source: How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis

Volume/Issue: 2009/204

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2009

ISBN: 9781451873511

Keywords: Crisis, policy, announcement, event, financial, monetary, fiscal, bank, bank bailouts, recapitalization

This paper examines the impact of macroeconomic and financial sector policy announcements in the United States, the United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidit...

Managing Confidence in Emerging Market Bank Runs

Managing Confidence in Emerging Market Bank Runs »

Source: Managing Confidence in Emerging Market Bank Runs

Volume/Issue: 2004/235

Series: IMF Working Papers

Author(s): Ashoka Mody , and Se-Jik Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2004

ISBN: 9781451875683

Keywords: Confidence, bank runs, bailout, sequential liquidity shortages, contagion, banking, banking crisis, bank closures, General Financial Markets, Financial Institutions and Services,

In a rational-expectations framework, we model depositors' confidence as a function of the probability of future bank bailouts. We analyze the effect of alternative bank bailout policies on depositors' confidence i...

Sub-National Credit Risk and Sovereign Bailouts: Who Pays the Premium?

Sub-National Credit Risk and Sovereign Bailouts: Who Pays the Premium? »

Source: Sub-National Credit Risk and Sovereign Bailouts : Who Pays the Premium?

Volume/Issue: 2014/20

Series: IMF Working Papers

Author(s): Eva Jenkner , and Zhongjin Lu

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2014

ISBN: 9781484398876

Keywords: sub-national public finances, sovereign risk premium, bailout, bond, bond yields, bonds, financial sector, bond market, State and Local Borrowing,

Studies have shown that markets may underprice sub-national governments' risk on the implicit assumption that these entities would be bailed out by their central government in case of financial difficulties. Howeve...

Intergovernmental Relations and Fiscal Discipline

Intergovernmental Relations and Fiscal Discipline »

Source: Intergovernmental Relations and Fiscal Discipline : Between Commons and Soft Budget Constraints

Volume/Issue: 2001/65

Series: IMF Working Papers

Author(s): Guiseppe Pisauro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2001

ISBN: 9781451848687

Keywords: fiscal federalism, soft budget constraint, bailout, budget constraint, fiscal discipline, budget process, fiscal relations, State And Local Government,

Fiscal decentralization is likely to entail a bias in the budget process toward higher public expenses and deficits. The paper reviews lessons drawn from the theoretical literature and international experience on t...

Country Insurance

Country Insurance »

Source: Country Insurance

Volume/Issue: 2004/148

Series: IMF Working Papers

Author(s): Eduardo Levy Yeyati , and Tito Cordella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2004

ISBN: 9781451856859

Keywords: Bailouts, insurance effect, market bond, hedging, capital market, bond, International Finance: General, National Government Expenditures and Related Policies: General,

In this paper, we examine how the presence of country insurance schemes affects policymakers' incentives to undertake reforms. Such schemes (especially when made contingent on negative external shocks) are more lik...