Too-Systemic-To-Fail: What Option Markets Imply About Sector-Wide Government Guarantees

By Bryan T. Kelly, Hanno Lustig, Stijn Van Nieuwerburgh. 2016

236 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/72004a05ba2cc5c5511921a3ac6942be1c4aed38

Citations in the corpus

• The FinTech Opportunity (2016, unknown): “Kelly et al. (2016) found evidence of collective government guarantees for the financial sector.”
• Did the paycheck protection program hit the target? (2020, unknown): “We contribute to an understanding of government responses to crises, including subsidized lending, tax incentives, and loan guarantees, a widely-used form of government intervention in credit markets ( Smith, 1983; Gale, 1990; 1991; Lucas, 2016; Kelly et al., 2016; Atkeson et al., 2019 ).”
• Resolution of Policy Uncertainty and Sudden Declines in Volatility (2017, unknown): “Kelly et al. (2016) find evidence for government guarantee premia by examining the basket-index spread from out-of-the-money put options.”