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Keeping banks afloat: public lifelines during the financial crisis

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  • Stéphanie Stolz
  • Michael Wedow

Abstract

The extensive public support measures for the financial sector were key for the management of the financial crisis. This paper gives a detailed description of the measures taken by governments during the period 2008–2010 and attempts a preliminary assessment of the effectiveness of such measures. The geographical focus of the paper is on the European Union (EU) and the United States. The crisis response in both regions was largely similar in terms of both tools and scope. However, there are important differences, not only between the EU and the United States, but also within the EU (e.g. asset relief schemes). Copyright Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Stéphanie Stolz & Michael Wedow, 2013. "Keeping banks afloat: public lifelines during the financial crisis," International Economics and Economic Policy, Springer, vol. 10(1), pages 81-126, March.
    • Handle: RePEc:kap:iecepo:v:10:y:2013:i:1:p:81-126
    DOI: 10.1007/s10368-013-0231-1
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    More about this item

    Keywords

    Bank rescue measures; Crisis management; Capital injections; Government guarantees; Asset support; E58; E61; G21; G38;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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