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- W1930711215 abstract "Following the recent international financial crisis, a number of policy proposalshave been made: one of which is the partitioning of banks into modules (groups),to contain financial shocks. The firewalls, which surround modules, prevent financialcontagion: when a shock hits a bank it spreads to other banks in thesame module, but not to banks in other modules. Conditional on bank modulesavoiding shocks, businesses can achieve their latent business opportunities. Theoptimal banking system has a cost-benefit trade off: increased module size allowsfor more lucrative business opportunities, but increases systemic banking risk.This thesis, using a theoretical approach, assesses the importance of the distributionof business opportunities when using modules. When the distribution isuniform, the optimal structure of the banking industry is fully characterised: itsurprisingly takes only two forms, either one all-encompassing module (containingall the banks), or atomistic modules (each module contains only one bank).The intuition behind this sharp characterisation is the increasing marginal returnsthat modules have on social welfare. A counter-example is constructedwhere, with a non-uniform matching of business opportunities, conversely, theefficient solution does have multiple modules each containing multiple banks.The model’s policy recommendation is that the banking system needs to bedesigned in accordance with the financial requirements of businesses." @default.
- W1930711215 created "2016-06-24" @default.
- W1930711215 creator A5031394454 @default.
- W1930711215 date "2013-11-01" @default.
- W1930711215 modified "2023-09-26" @default.
- W1930711215 title "The inefficiency of bank modules as a containment response to financial contagion : a benchmark result derived using a partition approach" @default.
- W1930711215 hasPublicationYear "2013" @default.
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