Optimal Design Of Bank Bailouts
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Optimal Design of Bank Bailouts
Author | : Philippe Aghion |
Publisher | : |
Total Pages | : 40 |
Release | : 1998 |
Genre | : Bailouts (Government policy) |
ISBN | : |
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In most recent banking crises bank regulators have been caught off their guard and have been forced to respond to the crisis in a hurry without the support of an institutional or legal framework designed to deal with bank failures. This is in sharp contrast with the non-financial sector, where a detailed and elaborate bankruptcy law governs the process of liquidation or reorganisation of financially distressed firms. In this paper we address the question of how to design a bankruptcy institution for banks that would serve a similar purpose as existing bankruptcy laws for non-financial firms.
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