摘要：AbstractSince financial stability is a matter of common interest, during the last financial crisis governments have supported the financial sector by providing significant amounts of public funds. The need to reduce moral hazard and build up financial buffers again st future crises involves the development of a new framework. The purpose of the paper consists in estimating, for a worldwide sample of banks, the premium for a fund that provides recapitalization in order to allow the orderly failure of an unsound ban k. The findings indicate that there was a sharp increase in the average premium in the last year of the sample.
