Allen, Franklin; Goldstein, Itay; Jagtiani, Julapa; … - Federal Reserve Bank of Philadelphia - 2014
. Systemic risk is the key factor in financial stability, but our current understanding of systemic risk is rather limited. While … the goal of using regulation to maintain financial stability is clear, it is not obvious how to design an effective … regulatory framework that achieves the financial stability objective while also promoting financial innovations. This paper …