We examine the effectiveness of the financial sector rescue packages provided by the national governments during the 2008 financial crisis. This study questions the implicit assumption that government interventions have an uniform effect on the default risk of individual banks. After testing the results for sensitivity, our main findings suggest that there exists a significant negative relationship between the announcement of the financial sector rescue packages and the daily change of the credit default premium. However, quantile regressions show that the effectiveness of these packages differs across banks: most interventions do not decrease the risk of intermediate to low-risk banks, while they do reduce the risk of high-risk banks. Besi...
What types of policy intervention had a greater impact during the financial crisis? By using a detai...
A common legacy of banking crises is a large increase in government debt, as fiscal resources are us...
We build upon a Markov-Switching Bayesian Vector Autoregression (MSBVAR) model to study how the cred...
We examine the effectiveness of the financial sector rescue packages provided by the national govern...
Government interventions to support the financial institutions fall into two broad categories: direc...
The subprime-related 2007/2008 global financial crisis represented a major economic challenge. In or...
Abstract: Government support to banks through the provision of explicit or implicit guarantees can a...
This paper investigates how the market valuation of credit risk changed during 2008-2009 via a separ...
We examine the market reaction and shift in risk from nine prominent government interventions in res...
This paper investigates the interaction of market views on the sustainability of sovereign debt and ...
The most recent crisis prompted regulatory authorities to implement directives prescribing actions t...
This paper examines government policies aimed at rescuing banks from the effects of the great financ...
We evaluate the impact of commonly used indicators of bank distress on broad (i.e. sector and countr...
Systemic banking crises often continue into recessions with large output losses (Reinhart & Rogoff 2...
We evaluate the impact of commonly used indicators of bank distress on broad (i.e. sector and countr...
What types of policy intervention had a greater impact during the financial crisis? By using a detai...
A common legacy of banking crises is a large increase in government debt, as fiscal resources are us...
We build upon a Markov-Switching Bayesian Vector Autoregression (MSBVAR) model to study how the cred...
We examine the effectiveness of the financial sector rescue packages provided by the national govern...
Government interventions to support the financial institutions fall into two broad categories: direc...
The subprime-related 2007/2008 global financial crisis represented a major economic challenge. In or...
Abstract: Government support to banks through the provision of explicit or implicit guarantees can a...
This paper investigates how the market valuation of credit risk changed during 2008-2009 via a separ...
We examine the market reaction and shift in risk from nine prominent government interventions in res...
This paper investigates the interaction of market views on the sustainability of sovereign debt and ...
The most recent crisis prompted regulatory authorities to implement directives prescribing actions t...
This paper examines government policies aimed at rescuing banks from the effects of the great financ...
We evaluate the impact of commonly used indicators of bank distress on broad (i.e. sector and countr...
Systemic banking crises often continue into recessions with large output losses (Reinhart & Rogoff 2...
We evaluate the impact of commonly used indicators of bank distress on broad (i.e. sector and countr...
What types of policy intervention had a greater impact during the financial crisis? By using a detai...
A common legacy of banking crises is a large increase in government debt, as fiscal resources are us...
We build upon a Markov-Switching Bayesian Vector Autoregression (MSBVAR) model to study how the cred...