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compensation investors demand for being exposed to the risk of large correlated drops in bank stock prices. DCRP is calculated …
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This paper examines the incentives of national regulators to coordinate regulatory policies in the presence of systemic risk in global financial markets. In a two-country and three-period model, correlated asset fire sales by banks generate systemic risk across national financial markets....
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a speech at the Fourteenth Annual International Banking Conference, Federal Reserve Bank of Chicago, Chicago, Illinois, Nov. 11, 2011
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