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Ein neues Bankinsolvenzrecht für die Schweiz

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  • Urs W. Birchler
  • Dominik Egli

Abstract

In Switzerland, new bank insolvency legislation is under consideration. The article compares the proposed regulation with the rules that would be optimal from an economic point of view. Optimal rules are a compromise between value maximization and absolute priority on the one hand (ex post optimality), and the avoidance of perverse incentives on the other (ex ante optimality). Existing Swiss rules are severely deficient in these respects. In contrast, the proposed revision is a reasonable approximation to an economic optimum in some respects, while it deviates from it in others.

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File URL: http://www.sjes.ch/papers/2003-II-1.pdf
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Bibliographic Info

Article provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.

Volume (Year): 139 (2003)
Issue (Month): II (June)
Pages: 125-154

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Handle: RePEc:ses:arsjes:2003-ii-1

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Related research

Keywords: Corporate bankruptcy; Insolvency regulation; Bank restructuring; Systemic stability;

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References

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