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Bank Bailouts

Bank Bailouts PDF Author: Mr.Tito Cordella
Publisher: International Monetary Fund
ISBN: 1451852878
Category : Business & Economics
Languages : en
Pages : 31

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Book Description
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.