market is endogenously formed. Bank assets are hit by idiosyncratic shocks drawn from a thin tailed distribution. The uneven … to be heavily indebted to other banks, their liquidation can trigger other bank failures. We find that the distribution …

-based measures of systemic bank shocks (SBS). These measures differ from "banking crisis" (BC) indicators employed in many empirical … studies, which are constructed using primarily information on government actions undertaken in response to bank distress … that BC indicators actually measure lagged policy responses to systemic bank shocks. We then re-examine the impact of …

granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank … of itself, and it may also influence concentration in banking and thus the impact of bank-specific shocks for the … micro-macro panel dataset. Our research has three main findings: First, bank-level shocks significantly impact on GDP …

, calibrate it to the year 2000 using the World Input-Output Database, and perform a counterfactual analysis of China’s WTO … accession. We find that China's WTO entry accounts for about 45% of the decrease in China's value added exports to exports ratio … and for about 7% of the decline in this figure on the world level as observed between 2000 and 2007. Furthermore, our …

bank market values hardly respond to changes in the default risk of individual systemic banks. Together, however, changes …

the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows … form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing …