We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where …

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 …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank …

, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback …

We examine systemic risk in the Chinese banking system by estimating the conditional value at risk (CoVaR), the … China. Although these measures show different patterns, our results suggest that systemic risk in the Chinese banking system … that Chinese banks are at greater risk according to the CoVaR, the SII and the VI approaches, but have the lowest MES …

We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation …

about bank asset risk. The regulator can either (1) make bank capital requirements contingent on credit ratings; or (2) set … constrain high risk bank investment without simultaneously reducing overall investment volume. However, if collusion between the … rating agency and the bank corrupts rating quality, rating-independent regulation enhances welfare. The welfare benefits are …