Refine
Year of publication
- 2017 (31) (remove)
Document Type
- Article (31) (remove)
Has Fulltext
- yes (31)
Is part of the Bibliography
- no (31)
Keywords
- African socio-cultural context (2)
- Akzeptanz (2)
- Befragung (2)
- Bojanowski, Arnulf (2)
- Education (2)
- Patient (2)
- Reformpädagogik (2)
- Smart Device (2)
- Student (2)
- acceptance (2)
The paper presents a comprehensive model of a banking system that integrates network effects, bankruptcy costs, fire sales, and cross-holdings. For the integrated financial market we prove the existence of a price-payment equilibrium and design an algorithm for the computation of the greatest and the least equilibrium. The number of defaults corresponding to the greatest price-payment equilibrium is analyzed in several comparative case studies. These illustrate the individual and joint impact of interbank liabilities, bankruptcy costs, fire sales and cross-holdings on systemic risk. We study policy implications and regulatory instruments, including central bank guarantees and quantitative easing, the significance of last wills of financial institutions, and capital requirements.