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Other Research Post-crisis Regulatory Reforms to Secure Financial Stability December 31, 2010

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Other Research Post-crisis Regulatory Reforms to Secure Financial Stability #Risk Management #General(Other)

December 31, 2010

  • KDI
    Seok-Kyun Hur
  • KDI
    Taehoon Youn
Contents
■ Opening Remarks
■ Keynote Speech
■ Conference Schedule
■ Contributors

■ CHAPTER 1
A Tax on Systemic Risk

 1. Introduction
 2. Regulating Systemic Financial Risk
 3. Contingent Capital Insurance: Theory and Evidence
 4. A Public-Private Plan
 5. Relationship to Other Proposals
 6. Concluding Remarks

■ CHAPTER 2
Political Economy of Macro-prudential Regulation in Korea

 1. Introduction
 2. Financial Stability and Macro-prudential Approach to Financial Regulation
 3. System for Financial Stability in Korea
 4. Political Economy of Macro-prudential Regulation in Korea

■ CHAPTER 3
US and EU Reforms for Preventing Future Systemic Crises,

 1. Introduction and Road Map
 2. The Existing Policy Framework and Why Its Systemic Weaknesses
 3. Broad-Brush Lessons for Prevention and Resolution of Systemic Problems
 4. Description and Assessment of Reform Proposals
 5. Concluding Thoughts

■ CHAPTER 4
Dynamic Provisioning: Some Lessons from Existing Experiences

 1. Why is the Financial System So Procyclical?
 2. How to Reduce the Procyclicality of the Financial System
 3. Existing Experiences
 4. Comparison Between Spain, Peru, and Colombia
 5. Conclusions

■ CHAPTER 5
Pro-cyclical Bank Lending and Counter-cyclical Financial Regulation

 1. Introduction
 2. Pro-cyclicality of Bank Lending and Regulatory Measures
 3. Pro-cyclicality in Korean Financial System
 4. Conclusions and Policy Implications

■ CHAPTER 6
Pro-cyclicality of Bank Loans under Information Asymmetry

 1. Introduction
 2. Literature Review
 3. A Model
 4. A Solution
 5. Regulator’s Determination of Capital Requirement: Pro-cyclical vs. Counter-cyclical Measures
 6. Extension to the Case of Multiple Loans
 7. Concluding Remarks

■ CHAPTER 7
Securitization without Risk Transfer

 1. Institutional Background
 2. Theoretical Framework
 3. Empirical Analysis
 4. Benefits to Banks of Securitization without Risk Transfer
 5. Related literature
 6. Conclusion

■ CHAPTER 8
Restoring the Role of Credit Rating Agencies as Gatekeepers

 1. Introduction
 2. Benchmark Model
 3. Extensions
 4. Policy Implications and Extensions
 5. Appendix

■ CHAPTER 9
Margin and Funding Liquidity: An Empirical Analysis on the Covered Interest Parity in Korea

 1. Introduction
 2. A Margin Based Asset Pricing Model
 3. Econometric Methodology
 4. Empirical Procedure
 5. CIP Deviation, Margin, and Illiquidity
 6. Conclusion

■ CHAPTER 10
Capital Insurance and Bank Managers Compensation

 1. Introduction
 2. The Model
 3. Bail-out Procedures
 4. The Inefficiency of Cost Minimizing Regulation
 5. Optimal Constract
 6. The Case Where Bank Managers Are Scarce
 7. Implementation
 8. Implementation
 9. Conclusion
 10. Appendix

■ CHAPTER 11
Managerial Compensation and Risk-taking in Banks

 1. Introduction
 2. Compensation and Incentives in Banks
 3. Banks in Korea: an Empirical Study
 4. Conclusion

■ CHAPTER 12
Hoarding International Reserves versus a Pigovian Tax-cum-subsidy Scheme: Reflections on the Deleveraging Crisis of 2008-9, and a Cost Benefit Analysis

 1. IR as Self-insurance During a Crisis: the Crisis Experience of EMs
 2. International Reserves at Times of Global Financial Distress: Reflections and Assessment of Future Options.
 3. Discussion

■ CHAPTER 13
Foreign Exchange Exposures of Korean Firms

 1. Introduction
 2. Concept of Foreign Exchange Exposure
 3. Measurement and Characteristics of Foreign Exchange Exposures
 4. Determinants of Foreign Exchange Exposures
 5. Concluding Remarks



■ CHAPTER 14
The Collapse of a Country

 1. Introduction
 2. Historical Background
 3. Prelude to the Collapse
 4. Destabilizing Speculation
 5. Warnings
 6. Government’s Response -gambling for Resurrection
 7. A systemic Crisis
 8. Coping with the Crisis
 9. Future Prospects
 10. What Should Be Done
 11. Conclusion
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