In order to assess the financial stability implications of these recent developments, it is important for academics and policy makers to improve their understanding of risks arising from the behaviour of non-bank financial institutions and the evolution of the supporting market infrastructure,...

The objective of the course is to present state of the frontier research on systemic risk and to illustrate its implications for micro and macro prudential regulation as well as monetary and competition policy. The course will begin with the definition, characterization, measurement and analysis...