examines why such regulation is a better approach than taxation to address systemic risk externalities, and why the public …

suggests informal saving practices as potential barriers to microenterprise performance. …

We present a model for Financial fragility in which banks are risk-averse portfolio managers and there is uncertainty … over risk management parameters. There is a danger of heightened risk aversion and projects in small economies are assumed …

The objective of this paper is to propose a model to assess risk for banks. Its main innovation is to incorporate … endogenous interaction between banks, recognising that the actual risk to which an individual bank is exposed also depends on its … data and therefore can be implemented as a risk assessment tool for financial regulators and central banks. We address the …

bank failure during the 2007-10 crisis, and to search for evidence of manipulated Basel risk-weights.  Compared with the … unweighted leverage ratio, we find the risk-weighted asset ratio to be a superior predictor of bank failure when banks operate … under the Basel II regime, provided that the risk of a crisis is low.  When the risk of a crisis is high, the unweighted …

has both superior in- and out-of-sample properties. We show that the superior performance applies to a wide range of … quantities of interest, including volatilities, covolatilities, betas and scenario-based risk measures, where the model …'s performance is particularly strong at short forecast horizons.   …