The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international …

17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the …

. There are two main results: First, if all banks have enough liquidity so that they can honor their short-term obligations, a … banks, a financial transactions tax contributes to financial distress and undoes other policy measures that are used to …

We examine to what extent banks’ stock market values during the 2007-2012 financial crisis were driven by increases in … the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that … bank market values hardly respond to changes in the default risk of individual systemic banks. Together, however, changes …

defaults. The measure is based on an explicit criterion, the aggregate debt repayments, and is bank’s specific, affected by the … bank’s characteristics and links to other banks. Such measure can be useful to a regulator to determine in which banks cash …

We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest …