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Browsing by Author "König, Philipp"
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2010-05-18DiskussionspapierLiquidity and Capital Requirements and the Probability of Bank Failure König, PhilippUsing the model of Rochet and Vives (2004), this note shows that a prudential regulator can in general not mitigate a bank’s failure risk solely by means of liquidity requirements. However, their effectiveness can be ...
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2014-10-06DiskussionspapierStrategic Complementaritiesand Nominal Rigidities König, Philipp; Meyer-Gohde, AlexanderWe reconsider the canonical model of price setting with menu costs by Ball and Romer (1990). Their original model exhibits multiple equilibria for nominal aggregate demand shocks of intermediate size. By abandoning Ball ...
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2013-05-16DiskussionspapierThe 'Celtic Crisis' König, Philipp; Anand, Kartik; Heinemann, FrankBank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence and stave off bank runs. However, as the experiences of some European countries, most notably Ireland, ...
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2011-06-15DiskussionspapierThe economics of TARGET2 balances Bindseil, Urlich; König, PhilippIt has recently been argued that intra-eurosystem claims and liabilities in the form of TARGET2 balances would raise fundamental issues within the European monetary union. This article provides a framework for the economic ...