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Financial Institutions and Services x Social Sciences x Macroeconomics and Monetary Economics x Welfare Economics x clear all

Cash-in-the-Market Pricing and Optimal Resolution of Bank Failures

Viral V. Acharya and Tanju Yorulmazer.

in The Review of Financial Studies

November 2008; p ublished online December 2007 .

Journal Article. Subjects: Banking; Financial Regulation; Corporate Regulation; Monetary Policy, Central Banking, and the Supply of Money and Credit; Welfare Economics. 16795 words.

As the number of bank failures increases, the set of assets available for acquisition by surviving banks enlarges but the total liquidity available with surviving banks falls. This results...

Crisis Resolution and Bank Liquidity

Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer.

in The Review of Financial Studies

June 2011; p ublished online September 2010 .

Journal Article. Subjects: Banking; Financial Regulation; Corporate Governance; Monetary Policy, Central Banking, and the Supply of Money and Credit; Welfare Economics. 17854 words.

What is the effect of financial crises and their resolution on banks' choice of liquidity? When banks have relative expertise in employing risky assets, the market for these assets clears...

Pecuniary Externalities in Economies with Financial Frictions

Eduardo Dávila and Anton Korinek.

in The Review of Economic Studies

January 2018; p ublished online February 2017 .

Journal Article. Subjects: Money and Interest Rates; Banking; Financial Regulation; Welfare Economics. 20495 words.

Abstract

This article characterizes the efficiency properties of competitive economies with financial constraints, in which phenomena such as fire sales and...