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Author Cordella, Tito.

Title Bank bailouts : moral hazard vs. value effect / prepared by Tito Cordella and Eduardo Levy Yeyati

Published [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Department, [1999]
©1999
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Description 1 online resource (30 pages) : illustrations
monochrome rdacc http://rdaregistry.info/termList/RDAColourContent/1002
Series IMF working paper ; WP/99/106
IMF working paper ; WP/99/106
Summary This paper shows that a central bank, by announcing and committing ex-ante to a bailout policy that is contingent on the realization of certain states of nature (for example on the occurrence of an adverse macroeconomic shock), creates a risk-reducing "value effect" that more than outweighs the moral hazard component of such a policy
Bibliography Includes bibliographical references (pages 29-30)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Bank failures -- Econometric models.
Bank loans -- Econometric models.
Banks and banking, Central -- Econometric models.
Loans -- Econometric models.
Financial crises -- Econometric models.
Lenders of last resort -- Econometric models.
Form Electronic book
ISBN 128134575X
1451898533
9781281345752
9781451898538