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- W2280964369 abstract "This thesis revolves around financial instability and banking regulation. The first chapter examines whether the disclosure of information about banks maximizes welfare in times of crisis. Contrary to conventional wisdom, we demonstrate that transparency is optimal only if banks' distress can be efficiently resolved. The second chapter provides an explanation for the observed inability of market participants to assess banks' solvency in times of crisis. We demonstrate that banks' incentives to understate losses lead to an equilibrium where no information is available in the market in times of crisis, and this makes banks take excessive risk ex-ante. The third chapter, coauthored with Philipp Ager, provides an empirical analysis of the effects of liberalization on bank competition and bank failures. Using the relaxation of bank entry barriers in the 19th century US as a case study, we find that liberalization increases bank entry by 11% and bank failures by 2.6%." @default.
- W2280964369 created "2016-06-24" @default.
- W2280964369 creator A5085422484 @default.
- W2280964369 date "2013-07-04" @default.
- W2280964369 modified "2023-09-23" @default.
- W2280964369 title "Three essays in banking : theory and empirics" @default.
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