Capital Regulation and Tail Risk

Capital Regulation and Tail Risk
The paper studies risk mitigation associated with capital regulation, in a context where banks may choose tail risk asserts. We show that this undermines the traditional result that high capital reduces excess risk-taking driven by limited liability. Moreover, higher capital may have an unintended effect of enabling banks to take more tail risk... READ MORE...

Publication date: August 2011
ISBN 9781462308262
$18.00

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