In the majority of democratic political systems, districts elect representatives, who form coalitions, which determine policies. In this paper we present a model which captures this process: A citizen-candidate model with multiple policy dimensions in which elected representatives endogenously...

This paper extends traditional payment system simulation analysis to counterparty liquidity risk exposures. The used stress test scenario corresponds to the counterparty stress scenario applied in the BCBS standard "Monitoring tools for intraday liquidity management" (BIS, 2013). This stress...