U.S. banking crisis of the 20th century. Our systemic risk measure captures both the credit risk of an individual bank … commercial banking system (i.e., the network’s topology) created more inherent fragility, but systemic risk was nevertheless … banking crisis that occurred between 1930{33 raised systemic risk per bank by 33% and increased the riskiness of the very …

which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in …

We model a banking union of two countries whose banking sectors differ in their average probability of failure and … contrast, bailout policies are centralized only when international spillovers from cross-border bank ownership are strong, and … banking sectors are highly profitable …

This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking …

Recession, as well as the V-shaped recoveries that followed the oil shock recessions … of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks … deep and persistent enough, like during the Great Recession, they call for a downward revision of potential output measures …

real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this … conducted as in normal times. Finally, we show that the rule estimated during the great recession is able to deliver an economic …

Germany’s comparatively good economic performance throughout the Great Recession of the years 2008/2009 is often … performed more stable throughout the Great Recession than non-Mittelstand firms. We also show that owner-managed SMEs performed …