Paulson Plan Credits (notice n° 166684)
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| 000 -LEADER | |
|---|---|
| fixed length control field | 01431cam a2200181 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112034110.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | De Bodt, Eric |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Paulson Plan Credits |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2016.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 91 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The Capital Purchase Plan (CPP) is one of the main ingredients of the Paulson Plan. In accordance with the CPP, U.S. federal agencies invested more than $200 billion in approximately 700 financial institutions in 2008 and 2009. This article examines whether the CPP as a major public intervention helped to decrease financial institutions’ systemic risk contribution. We use Δ CoVaR (Adrian and Brunnermeier, 2016) as measure of systemic risk contribution, as well as a difference-in-difference test. Size, business model and CPP timing all matters when it comes to identify the effects of the CPP. In particular, October 2008 recipients, a limited sample of major industry players, underwent an increase in their systemic risk contribution after CPP funding. This result suggests either a moral hazard issue and/or an indirect effect of the financial industry restructuring in the wake of the Lehman Brothers collapse. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Lobez, Frédéric |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Schwienbacher, Armin |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Finance | Vol.37 | 1 | 2016-08-31 | p. 97-120 | 0752-6180 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-finance-2016-1-page-97?lang=en">https://shs.cairn.info/journal-finance-2016-1-page-97?lang=en</a> |
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