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Using disaster planning to optimize expenditures on financial safety nets

  • Edward Kane
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    Using a multiperiod model, this paper offers a benchmark standard for efficient safety net management. This standard embodies a market-mimicking strategy for identifying, preventing, and resolving bank insolvencies. Around the world, governmental reluctance to acknowledge weaknesses in their crisis prevention efforts supports an underinvestment in contingent plans for handling financial disaster. The model features the hypothesis that this underinvestment misserves taxpayers by increasing the ability of stakeholders in insolvent banks to extract implicit and explicit subsidies when and as the threat of an actual crisis intensifies. Copyright International Atlantic Economic Society 2001

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    File URL: http://hdl.handle.net/10.1007/BF02300546
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    Article provided by International Atlantic Economic Society in its journal Atlantic Economic Journal.

    Volume (Year): 29 (2001)
    Issue (Month): 3 (September)
    Pages: 243-253

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    Handle: RePEc:kap:atlecj:v:29:y:2001:i:3:p:243-253
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    1. Laeven, Luc, 2000. "Banking risks around the world - the implicit safety net subsidy approach," Policy Research Working Paper Series 2473, The World Bank.
    2. Walker F. Todd, 1994. "Lessons from the collapse of three state-chartered private deposit insurance funds," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
    3. Demirguc-Kunt, Asli & Detragiache, Enrica, 2002. "Does deposit insurance increase banking system stability? An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 49(7), pages 1373-1406, October.
    4. Asli Demirgüç-Kunt & Enrica Detragiache, 2000. "Does Deposit Insurance Increase Banking System Stability?," IMF Working Papers 00/3, International Monetary Fund.
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