Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
收藏NBER2021-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w29560
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资源简介：
We study time-consistent bank resolution mechanisms. When interventions are ex post efficient, a government cannot commit not to inject capital into the banking system. Contrary to common wisdom, we show that the government may still avoid moral hazard and implement the first best allocation by
提供机构：
美国国家经济研究局
创建时间：
2021-12-01
