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Too Big to Fail and...
Too Big to Fail and Moral Hazard : Evidence from an Epoch of Unregulated Commercial Banking
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- Andersen, Thomas Barnebeck (författare)
- Univ Southern Denmark, Denmark
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- Sandholt Jensen, Peter (författare)
- Linnéuniversitetet,Institutionen för nationalekonomi och statistik (NS)
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(creator_code:org_t)
- 2022-05-06
- 2022
- Engelska.
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Ingår i: IMF Economic Review. - : Springer. - 2041-4161 .- 2041-417X. ; 70, s. 808-830
- Relaterad länk:
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https://urn.kb.se/re...
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visa fler...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- We analyze the link between "too big to fail" (TBTF) and moral hazard using a natural experiment from an epoch of unregulated commercial banking in Denmark. In 1908 the country faced a large banking shock where the creditors of distressed commercial banks received a bailout by the government for the first time in Danish history. Due to a fortuitous combination of circumstances, banks continued to operate in an unregulated environment for more than a decade after the bailout. By considering a sample from a pre-regulation epoch, we isolate the TBTF effect. Our empirical analysis shows that TBTF banks significantly reduced post-bailout capital ratios compared to other banks.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business (hsv//eng)
Nyckelord
- Banking crisis
- Creditor bailout
- Too big to fail
- Moral hazard
- Economy
- Ekonomi
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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