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Inhaltsangabe: The Prudential Regulation of Banks applies modern economic theory to prudential regulation of financial intermediaries. Dewatripont and Tirole tackle the key problem of providing the right incentives to management in banks by looking at how external intervention by claimholders (holders of equity or debt) affects managerial incentives and how that intervention might ideally be implemented. Their primary focus is the regulation of commercial banks and S&Ls, but many of the implications of their theory are also valid for other intermediaries such as insurance companies, pension funds, and securities funds.
Observing that the main concern of the regulation of intermediaries is solvency (the relation between equity, debt, and asset riskiness), the authors provide institutional background and develop a case for regulation as performing the monitoring functions (screening, auditing, convenant writing, and intervention) that dispersed depositors are unable or unwilling to perform. They also illustrate the dangers of regulatory failure in a summary of the S&L crisis of the 1980s.
Following a survey of banking theory, Dewatripont and Tirole develop their model of the capital structure of banks and show how optimal regulation can be achieved using capital adequacy requirements and external intervention when banks are violated. They explain how regulation can be designed to minimize risks of accounting manipulations and to insulate bank managers from macroeconomic shocks, which are beyond their control. Finally, they provide a detailed evaluation of the existing regulation and of potential alternatives, such as rating agencies, private deposit insurance, and large private depositors. They show that these reforms are, at best, a complement, rather than a substitute, to the existing regulation which combines capital ratios with external intervention in case of insolvency.
The Prudential Regulation of Banks is part of the Walras Pareto Lectures, from the Universiy of Lausanne.
Über den Autor:
Mathias Dewatripont is Professor at the Université Libre de Bruxelles, a Research Fellow at its European Centre for Adanced Research in Economics and Statistics (ECARES) and Research Director of the London-based Centre for Economic Policy Research (CEPR).
Jean Tirole is Scientific Director of IDEI (Institut d'Economie Industrielle), Chairman of the Board of TSE (Toulouse School of Economics), and Annual Visiting Professor of Economics at MIT.
Buchbeschreibung The MIT Press. Buchzustand: Very Good. . Buchnummer des Verkäufers S17F-00570
Buchbeschreibung The MIT Press. Buchzustand: Very Good. A bright, square, and overall a nice copy All orders guaranteed and ship within 24 hours. Before placing your order for please contact us for confirmation on the book's binding. Check out our other listings to add to your order for discounted shipping. Buchnummer des Verkäufers WAL-D-0a-000220
Buchbeschreibung The MIT Press, 1994. Buchzustand: Good. N/A. Shows some signs of wear, and may have some markings on the inside. Buchnummer des Verkäufers GRP61472345
Buchbeschreibung The MIT Press. Hardcover. Buchzustand: GOOD. Gently used may contain ex-library markings, possibly has some minor highlighting, textual notations, and or underlining. Text is still easily readable. Buchnummer des Verkäufers 2698267102
Buchbeschreibung The MIT Press. Buchzustand: Good. Ex-library, so some stamps and wear, and may have sticker on cover, but in good overall condition. Buchnummer des Verkäufers Z1-M-019-00903
Buchbeschreibung The MIT Press, 1994. Hardcover. Buchzustand: Used: Good. Buchnummer des Verkäufers SONG0262041464
Buchbeschreibung The MIT Press, 1994. Buchzustand: Very Good. N/A. Ships from the UK. Former Library book. Great condition for a used book! Minimal wear. Buchnummer des Verkäufers GRP83383069
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Buchbeschreibung The MIT Press, 1994. Hardcover. Buchzustand: Good. Good condition, some are ex-library and can have markings. Buchnummer des Verkäufers GD-011-46-1360201