Reducing systemic relevance: A proposal

Arbeitspapier

This paper presents a proposal for a regulatory regime aimed at reducing systemic risk effectively and internationally. Systemic relevance should be internalized with a levy (or tax), the level of which (or tax rate) rises with the systemic relevance of an institution (Pigouvian taxation). The levy should be complemented by a Systemic Risk Fund which is endowed with control rights, in particular early intervention and resolution powers. The Systemic Risk Fund should be funded by the proceeds from the levy; if the Fund reaches a certain threshold size, the continuing flow of contributions is distributed to the government(s). Systemic Risk Funds implemented on the global, European, and national level would solve the issue mitigating risks also cross-border and provide a framework for burden-sharing.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Arbeitspapier ; No. 04/2010

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Financial Crises ; International Financial Markets ; General Financial Markets: Government Policy and Regulation ; Financial Institutions and Services: Government Policy and Regulation
• Thema: Systemic Risk Fund ; systemic relevance ; levy ; tax ; surcharge ; financial institutions ; Basel II

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Doluca, Hasan ; Klüh, Ulrich ; Wagner, Marco ; Weder di Mauro, Beatrice
• Ereignis: Veröffentlichung
• (wer): Sachverständigenrat zur Begutachtung der Gesamtwirtschaftlichen Entwicklung
• (wo): Wiesbaden
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/74735
• Letzte Aktualisierung: 20.09.2024, 08:21 MESZ