American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the …

financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level …, we build an econometric model with incidental truncation that jointly considers bank survival, the type of bank closure … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …

history of honesty and a high level of central bank independence. According to our respondents, the Federal Reserve is the … most credible, transparent and independent central bank out of seven large central banks. The ECB is not perceived as …

The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …

(MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated … extra central bank conservatism is required when there is ambiguity about the MPC's true decision rule. …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …