Search results for: Author=Hellwig [244]

Pages

2015
Zur Diskussion um die Notkredite der griechischen Zentralbank für griechische Banken
oekonomenstimme.org
2015
2014
'Veeg banken snel schoon'; [Interview]
De Financiële Telegraaf
2014
30 % Eigenkapital!
Frankfurter Allgemeine Sonntagszeitung
2014
Banken im Sicherheits-Check
Frankfurter Allgemeine Sonntagszeitung
2014
Banken nach der Krise: Wie sicher sind sie?
Süddeutsche Zeitung
2014
Beliefs, Payoffs, Information: On the Robustness of the BDP Property in Models with Endogenous Beliefs
Journal of Mathematical Economics
51
136-153
2014
Die halbherzige Bankenunion
Deutsche Welle Portal
(Eds.),
2014
Fallacies and Irrelevant Facts in the Discussion of Capital Regulation
Central Banking at a Crossroads – Europe and Beyond
33-51
Anthem Press
2014
Abstract
This chapter is based mainly on Sections 3, 4 and 9 in Admati et al. (2013). Among other things, Admati et al. (2013, Sections 5-7) discusses unsupported claims that are inadequate for the policy debate (myths). It also explains (in Section 8) why equity dominates alternatives such as contingent capital and other debt-like securities that are complex, less reliable for loss absorption, and maintain distortions.
Financial Stability, Monetary Policy, Banking Supervision, and Central Banking
Monetary Policy in a Changing Landscape: Conference Proceedings of the First ECB Forum on Central Banking, Bonn
(Eds.),
21-54
2014
Financial Stability, Monetary Policy, Banking Supervision, and Central Banking
2014/09
Max Planck Institute for Research on Collective Goods
Bonn
2014
Abstract
The paper gives an overview over issues concerning the role of financial stability in monetary policy and the relation between banking supervision and central banking. Following a brief account of developments in the European Monetary Union since its creation, the systematic treatment contains four parts, first a systematic discussion of how a central bank’s operations differ from those of an administrative authority; second, a discussion of how the shift from convertible currencies to paper currencies has affected our understanding of monetary policy and the role of financial stability; third, a discussion of moral hazard in banking and banking supervision as a threat to monetary dominance and to the effective independence of central bank decision making in an environment in which financial stability is an essential precondition for reaching the central bank’s macroeconomic objective, e.g. price stability; finally, a discussion of the challenges for institution design and policy, with special attention to developments in the euro area.

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