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Excessive lending, leverage, and risk-taking in the presence of bailout expectations /
The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often referr...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
|
| Colección: | IMF working paper ;
WP/09/233. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Georgiou, Andréas, |e author. | |
| 245 | 1 | 0 | |a Excessive lending, leverage, and risk-taking in the presence of bailout expectations / |c prepared by Andréas Georgiou. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2009. | ||
| 300 | |a 1 online resource (25 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
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| 490 | 1 | |a IMF working paper ; |v WP/09/233 | |
| 504 | |a Includes bibliographical references (page 25). | ||
| 520 | 3 | |a The financial crisis that began in 2007 has brought to the fore the issues of excesses in lending, leverage, and risk-taking as some of the fundamental causes of this crisis. At the same time, in dealing with the financial crisis there have been large scale interventions by governments, often referred to as bailouts of the lenders. This paper presents a framework where rational economic agents engage in ex ante excessive lending, borrowing, and risk-taking if creditors assign a positive probability to being bailed out. The paper also offers some thoughts on policy implications. It argues that it would be most productive for the long run if lending institutions were not bailed out. If the continuing existence of an institution was deemed essential, assistance should take the form of capital injections that dilute the equity of existing owners. | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The Analytical Framework; A. The Basic Model; B. Different Sources of Finance; C. Choice of Project Riskiness; D. Change in the Cost of Loanable Funds; E. Changes in the Probability Distribution Function of the Debt-Financed Project; III. Some Thoughts on Policy Implications; IV. Conclusion; Appendix; References; Footnotes. | |
| 546 | |a English. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Financial crises |x Econometric models. | |
| 650 | 0 | |a Economic policy |x Mathematical models. | |
| 650 | 0 | |a Financial risk. | |
| 650 | 0 | |a Capital market. | |
| 650 | 0 | |a Global Financial Crisis, 2008-2009. | |
| 650 | 6 | |a Politique économique |x Modèles mathématiques. | |
| 650 | 6 | |a Risque financier. | |
| 650 | 6 | |a Marché financier. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
| 650 | 7 | |a Capital market |2 fast | |
| 650 | 7 | |a Economic policy |x Mathematical models |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 650 | 7 | |a Financial risk |2 fast | |
| 647 | 7 | |a Global Financial Crisis |d (2008-2009) |2 fast |0 (OCoLC)fst01755654 |1 https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm | |
| 648 | 7 | |a 2008-2009 |2 fast | |
| 710 | 2 | |a International Monetary Fund. |b Statistics Department. | |
| 758 | |i has work: |a Excessive lending, leverage, and risk-taking in the presence of bailout expectations (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGMPYTj7Dx3PtrQqJwftXd |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Georgiou, Andréas. |t Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations. |d Washington : International Monetary Fund, ©2009 |z 9781451873801 |
| 830 | 0 | |a IMF working paper ; |v WP/09/233. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608857 |z Texto completo |
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