Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/74654 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Thünen-Series of Applied Economic Theory - Working Paper No. 124
Verlag: 
Universität Rostock, Institut für Volkswirtschaftslehre, Rostock
Zusammenfassung: 
The macroprudential regulatory framework of Basel III imposes the same capital and liquidity requirements on all banks around the world to ensure global competitiveness of banks. Using an agent-based model of the financial system, we find that this is not a robust framework to achieve (inter)national financial stability, because efficient regulation has to embrace the economic structure and behaviour of financial market participants, which differ from country to country. Market-based financial systems do not profit from capital and liquidity regulations, but from a ban on proprietary trading (Volcker rule). In homogeneous or bank-based financial systems, the most effective regulatory policy to ensure financial stability depends on the stability measure used. Irrespective of financial system architecture, direct restrictions of banks' investment portfolios are more effective than indirect restrictions through capital, leverage and liquidity regulations.
Schlagwörter: 
financial stability
systemic risk
financial system
banking regulation
agent-based model
JEL: 
C63
G01
G11
G21
G28
Dokumentart: 
Working Paper

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