We explore how imperfect regulation enforcement affects the design of optimal
macroprudential policy. We study an open economy workhorse model of macroprudential …

Central banks provide public liquidity to traditional (regulated) banks with the intention of
stabilizing the financial system. Shadow banks are not regulated, yet they indirectly access …

Implicit guarantees create costs, as no fee is charged in exchange for them, at least not
directly or openly, meaning that the guarantee is too cheap. Funding costs for banks …

We study the impact of shadow banking on optimal liquidity regulation in a Diamond–Dybvig
maturity-mismatch environment. In this economy, a pecuniary externality arising out of the …

This paper provides a theory of endogenous implicit guarantees on risky assets, in which a
government's bailouts take the form of asset purchases to alleviate asymmetric information …

Due to the negative consequences of extensive bank bailouts during the global financial
crisis, EU member states adopted the Bank Recovery and Resolution Directive (BRRD) to …

Аннотация В статье исследовано сущность финансовой безопасности. На основе
индикаторов финансовой безопасности страны проанализирована финансовая …