Stress tests and model monoculture

Gespeichert in:

Autor*in:	Rhee, Keeyoung [verfasserIn] Dogra, Keshav [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2024

Schlagwörter:	Adverse selection Information design Model monoculture Stress tests

Übergeordnetes Werk:	Enthalten in: Journal of financial economics - Amsterdam [u.a.] : Elsevier, 1974, 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22
Übergeordnetes Werk:	volume:152 ; year:2024 ; month:02 ; elocationid:103760 ; pages:1-22

Links:	Link aufrufen Link aufrufen

DOI / URN:	10.1016/j.jfineco.2023.103760

Katalog-ID:	1878461206

Internformat


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982			\|2 26 \|1 00 \|x DE-206 \|b We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.

Indexfelder

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allfields	10.1016/j.jfineco.2023.103760 doi (DE-627)1878461206 (DE-599)KXP1878461206 DE-627 ger DE-627 rda eng Rhee, Keeyoung verfasserin (DE-588)117221896X (DE-627)1040990878 (DE-576)514427388 aut Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206 Dogra, Keshav verfasserin aut Enthalten in Journal of financial economics Amsterdam [u.a.] : Elsevier, 1974 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 Online-Ressource (DE-627)253779596 (DE-600)1460384-6 (DE-576)072793813 0304-405X nnns volume:152 year:2024 month:02 elocationid:103760 pages:1-22 https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.jfineco.2023.103760 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 152 2024 2 103760 1-22 26 01 0206 4461176479 x1z 18-01-24 26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.
spelling	10.1016/j.jfineco.2023.103760 doi (DE-627)1878461206 (DE-599)KXP1878461206 DE-627 ger DE-627 rda eng Rhee, Keeyoung verfasserin (DE-588)117221896X (DE-627)1040990878 (DE-576)514427388 aut Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206 Dogra, Keshav verfasserin aut Enthalten in Journal of financial economics Amsterdam [u.a.] : Elsevier, 1974 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 Online-Ressource (DE-627)253779596 (DE-600)1460384-6 (DE-576)072793813 0304-405X nnns volume:152 year:2024 month:02 elocationid:103760 pages:1-22 https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.jfineco.2023.103760 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 152 2024 2 103760 1-22 26 01 0206 4461176479 x1z 18-01-24 26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.
allfields_unstemmed	10.1016/j.jfineco.2023.103760 doi (DE-627)1878461206 (DE-599)KXP1878461206 DE-627 ger DE-627 rda eng Rhee, Keeyoung verfasserin (DE-588)117221896X (DE-627)1040990878 (DE-576)514427388 aut Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206 Dogra, Keshav verfasserin aut Enthalten in Journal of financial economics Amsterdam [u.a.] : Elsevier, 1974 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 Online-Ressource (DE-627)253779596 (DE-600)1460384-6 (DE-576)072793813 0304-405X nnns volume:152 year:2024 month:02 elocationid:103760 pages:1-22 https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.jfineco.2023.103760 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 152 2024 2 103760 1-22 26 01 0206 4461176479 x1z 18-01-24 26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.
allfieldsGer	10.1016/j.jfineco.2023.103760 doi (DE-627)1878461206 (DE-599)KXP1878461206 DE-627 ger DE-627 rda eng Rhee, Keeyoung verfasserin (DE-588)117221896X (DE-627)1040990878 (DE-576)514427388 aut Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206 Dogra, Keshav verfasserin aut Enthalten in Journal of financial economics Amsterdam [u.a.] : Elsevier, 1974 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 Online-Ressource (DE-627)253779596 (DE-600)1460384-6 (DE-576)072793813 0304-405X nnns volume:152 year:2024 month:02 elocationid:103760 pages:1-22 https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.jfineco.2023.103760 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 152 2024 2 103760 1-22 26 01 0206 4461176479 x1z 18-01-24 26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.
allfieldsSound	10.1016/j.jfineco.2023.103760 doi (DE-627)1878461206 (DE-599)KXP1878461206 DE-627 ger DE-627 rda eng Rhee, Keeyoung verfasserin (DE-588)117221896X (DE-627)1040990878 (DE-576)514427388 aut Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra 2024 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206 Dogra, Keshav verfasserin aut Enthalten in Journal of financial economics Amsterdam [u.a.] : Elsevier, 1974 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 Online-Ressource (DE-627)253779596 (DE-600)1460384-6 (DE-576)072793813 0304-405X nnns volume:152 year:2024 month:02 elocationid:103760 pages:1-22 https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf Verlag lizenzpflichtig https://doi.org/10.1016/j.jfineco.2023.103760 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_370 GBV_ILN_602 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4338 GBV_ILN_4393 GBV_ILN_4700 AR 152 2024 2 103760 1-22 26 01 0206 4461176479 x1z 18-01-24 26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.
language	English
source	Enthalten in Journal of financial economics 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 volume:152 year:2024 month:02 elocationid:103760 pages:1-22
sourceStr	Enthalten in Journal of financial economics 152(2024) vom: Feb., Artikel-ID 103760, Seite 1-22 volume:152 year:2024 month:02 elocationid:103760 pages:1-22
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topic_facet	Adverse selection Information design Model monoculture Stress tests
sw_local_iln_str_mv	26: DE-206:
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container_title	Journal of financial economics
authorswithroles_txt_mv	Rhee, Keeyoung @@aut@@ Dogra, Keshav @@aut@@
publishDateDaySort_date	2024-02-01T00:00:00Z
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Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.</subfield></datafield></record></collection>
author	Rhee, Keeyoung
spellingShingle	Rhee, Keeyoung misc Adverse selection misc Information design misc Model monoculture misc Stress tests Stress tests and model monoculture
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topic_title	26 00 DE-206 We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise Stress tests and model monoculture Keeyoung Rhee, Keshav Dogra Adverse selection (dpeaa)DE-206 Information design (dpeaa)DE-206 Model monoculture (dpeaa)DE-206 Stress tests (dpeaa)DE-206
topic	misc Adverse selection misc Information design misc Model monoculture misc Stress tests
topic_unstemmed	misc Adverse selection misc Information design misc Model monoculture misc Stress tests
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title_short	Stress tests and model monoculture
url	https://www.sciencedirect.com/science/article/pii/S0304405X23002003/pdfft?md5=57911b388d1851a797bd158484d655d6&pid=1-s2.0-S0304405X23002003-main.pdf https://doi.org/10.1016/j.jfineco.2023.103760
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up_date	2024-07-04T17:36:55.923Z
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code="a">GBV_ILN_2507</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4035</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4037</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4112</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4125</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4242</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4249</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4251</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4305</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4306</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4307</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4313</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4322</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4323</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4324</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4325</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4326</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4333</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4334</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4338</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4393</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4700</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">AR</subfield></datafield><datafield tag="952" ind1=" " ind2=" "><subfield code="d">152</subfield><subfield code="j">2024</subfield><subfield code="c">2</subfield><subfield code="i">103760</subfield><subfield code="h">1-22</subfield></datafield><datafield tag="980" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">01</subfield><subfield code="x">0206</subfield><subfield code="b">4461176479</subfield><subfield code="y">x1z</subfield><subfield code="z">18-01-24</subfield></datafield><datafield tag="982" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">00</subfield><subfield code="x">DE-206</subfield><subfield code="b">We study whether regulators should reveal stress test results that contain imperfect information about banks' financial health. Although disclosure restores market confidence in banks, it misclassifies some healthy banks as risky. This encourages banks to choose portfolios deemed safe by regulators, leading to model monoculture and making the financial system less diversified. Under the ex-ante optimal disclosure policy, the regulator addresses this tradeoff by fully revealing stress test results when adverse selection is very severe or very mild, but never disclosing the results otherwise.</subfield></datafield></record></collection>
score	7.401038

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Stress tests and model monoculture

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