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Book Chapter

Fallacies and Irrelevant Facts in the Discussion of Capital Regulation

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Hellwig,  Martin
Max Planck Institute for Research on Collective Goods, Max Planck Society;

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Citation

Admati, A. R., DeMarzo, P. M., Hellwig, M., & Pfleiderer, P. (2014). Fallacies and Irrelevant Facts in the Discussion of Capital Regulation. In C. Goodhard, D. Gabor, J. Vestergaard, & I. Ertürk (Eds.), Central Banking at a Crossroads – Europe and Beyond (2013/23, pp. 33-51). Anthem Press.


Cite as: https://hdl.handle.net/11858/00-001M-0000-0028-6907-3
Abstract
This chapter is based mainly on Sections 3, 4 and 9 in Admati et al. (2013). Among other things, Admati et al. (2013, Sections 5-7) discusses unsupported claims that are inadequate for the policy debate (myths). It also explains (in Section 8) why equity dominates alternatives such as contingent capital and other debt-like securities that are complex, less reliable for loss absorption, and maintain distortions.