Systemic risk and the optimal seniority structure of banking liabilities
The paper argues that systemic risk must be taken into account when designing optimal bankruptcy procedures in general, and priority rules in particular. Allowing for endogenous formation of links in the interbank market we show that the optimal policy depends on the distribution of shocks and the s...
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| Format: | Article |
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Wiley
2018
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| Online Access: | https://eprints.nottingham.ac.uk/48726/ |
| _version_ | 1848797833955639296 |
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| author | Bougheas, Spiros Kirman, Alan |
| author_facet | Bougheas, Spiros Kirman, Alan |
| author_sort | Bougheas, Spiros |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The paper argues that systemic risk must be taken into account when designing optimal bankruptcy procedures in general, and priority rules in particular. Allowing for endogenous formation of links in the interbank market we show that the optimal policy depends on the distribution of shocks and the severity of fire sales. |
| first_indexed | 2025-11-14T20:10:10Z |
| format | Article |
| id | nottingham-48726 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T20:10:10Z |
| publishDate | 2018 |
| publisher | Wiley |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-487262020-05-04T19:27:24Z https://eprints.nottingham.ac.uk/48726/ Systemic risk and the optimal seniority structure of banking liabilities Bougheas, Spiros Kirman, Alan The paper argues that systemic risk must be taken into account when designing optimal bankruptcy procedures in general, and priority rules in particular. Allowing for endogenous formation of links in the interbank market we show that the optimal policy depends on the distribution of shocks and the severity of fire sales. Wiley 2018-01-18 Article PeerReviewed Bougheas, Spiros and Kirman, Alan (2018) Systemic risk and the optimal seniority structure of banking liabilities. International Journal of Finance and Economics, 23 (1). pp. 47-54. ISSN 1099-1158 Banks; Priority rules; Systemic Risk http://onlinelibrary.wiley.com/doi/10.1002/ijfe.1602/abstract doi:10.1002/ijfe.1602 doi:10.1002/ijfe.1602 |
| spellingShingle | Banks; Priority rules; Systemic Risk Bougheas, Spiros Kirman, Alan Systemic risk and the optimal seniority structure of banking liabilities |
| title | Systemic risk and the optimal seniority structure of banking liabilities |
| title_full | Systemic risk and the optimal seniority structure of banking liabilities |
| title_fullStr | Systemic risk and the optimal seniority structure of banking liabilities |
| title_full_unstemmed | Systemic risk and the optimal seniority structure of banking liabilities |
| title_short | Systemic risk and the optimal seniority structure of banking liabilities |
| title_sort | systemic risk and the optimal seniority structure of banking liabilities |
| topic | Banks; Priority rules; Systemic Risk |
| url | https://eprints.nottingham.ac.uk/48726/ https://eprints.nottingham.ac.uk/48726/ https://eprints.nottingham.ac.uk/48726/ |