The response to the global financial crisis (GFC) of 2007–2008 has famously been described as problem too-big-to-fail.1 In middle a worsening crisis, regulators had recognize that bank bailouts were only way stabilize markets. One two priorities regulatory reforms post-crisis was address too-big-to-fail by introducing resolution procedure for systemically important institutions.2 Among (with no...

The prospects of Congress permitting bank expansion into insurance continues to concern bankers, insurers and investors. Based upon event study methods, abnormal returns to investors of banks engaging in currently permitted insurance activities are found to be significant over the 1974-1990 period. Further, disaggregated results suggest that there were significantly higher returns to more recen...

Income bonds should be used more extensively by corporations than they are. Their avoidance apparently arises from a mere accident of economic history–namely, that were first employed in quantity connection with railroad reorganizations, and hence have been associated the start financial weakness poor investment status. But form itself has several practical advantages… Chief among these is dedu...

This study investigates the role of political consensus in accelerating economic reforms and finds a significant negative effect on speed reform votes parliament Tunisia. We analyze number days until bill was adopted to identify causal reforms. Using an endogenous treatment model original database between 2012 2019 Tunisia, we compare social with before after consensus. find that is more likely...