This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of …

In this paper we review recent advances in financial economics in relation to the measurement of systemic risk. We … start by reviewing studies that apply traditional measures of risk to financial institutions. However, the main focus of the …. Applications of these techniques for the analysis and pricing of systemic risk has already provided significant benefits at least …

We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest … contribution of systemic risk by means of Shapley values. Within this framework we analyze the effects of prudential policies on … the stability/efficiency trade-off. Liquidity requirements unequivocally decrease systemic risk but at the cost of lower …

of systemic risk in the global financial system. This means that one of the most important current questions in … terms – in particular the ubiquitous notion of risk – but attach fundamentally different meanings to them. With the proper … activities, the limits of insurance can be re-established. Such delineation is essential to determine appropriate systemic risk …

maintaining financial sector stability through reduction of vulnerability is highly crucial. The world is now witnessing an …

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 … in systemic banks’ default risk explain a substantial part of changes in other banks’ market values. This result is …