| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3827 |
| DP3827 The Effect of High School Matriculation Awards: Evidence from Randomized Trials | |
| Josh Angrist; Victor Lavy | |
| 发表日期 | 2002-03-23 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The merit of having international convergence of bank capital requirements in the presence of divergent closure policies of different central banks is examined. While the privately optimal level of bank capital decreases with regulatory forbearance (they are strategic substitutes), the socially optimal level of bank capital increases with regulatory forbearance (they are strategic complements). Hence, in optimal regulatory design, the level of minimum bank capital requirement increases with the forbearance in central bank closure policy. The lack of such linkage leads to a spillover from more forbearing to less forbearing economies and reduces the competitive advantage of banks in less forbearing economies. Linking the central bank?s forbearance to its alignment with domestic bankowners, it is shown that in equilibrium a regression towards the worst closure policy may result: the central banks of initially less forbearing economies have to adopt greater forbearance as well. |
| 主题 | Financial Economics |
| 关键词 | Bank regulation Capital adequacy Closure policy Risk-shifting Financial integration International spillovers |
| URL | https://cepr.org/publications/dp3827 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532317 |
| 推荐引用方式 GB/T 7714 | Josh Angrist,Victor Lavy. DP3827 The Effect of High School Matriculation Awards: Evidence from Randomized Trials. 2002. |
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