too-big-to-fail entities in the making. The present regulatory and reform efforts may not remove the systemic risk from … OTC derivatives but rather shift them from banks to CCPs. Under the present regulatory overhaul, the OTC derivative market …, indicates that the proposed changes may not provide the best solution. The paper suggests that a tax on derivative liabilities …

risk is measured by losses to the financial system that may result via the OTC derivative contracts from the default of one …The financial market turmoil of recent months has highlighted the importance of counterparty risk. Here, we discuss … counterparty risk that may stem from the OTC derivatives markets and attempt to assess the scope of potential cascade effects. This …

Credit derivative markets are largely unregulated, but calls are increasingly being made for changes to this ""hands … next one. The purpose of this paper is to address two basic questions: (i) do credit derivative markets increase systemic … risk; and (ii) should they be regulated more closely, and if so, how and to what extent? The paper begins with a basic …

To mitigate systemic risk, some regulators have advocated the greater use of centralized counterparties (CCPs) to clear …

Are assets in a landlocked country subject to sea-level rise risk? In this paper, we study the cross-border spillovers … data between 1970 and 2018, we observe that globalization increased the similarity of countries' global climate risk …

We augment a linearized dynamic stochastic general equilibrium (DSGE) model with a tractable endogenous risk mechanism … their conditional distributions. In particular, the model matches the key stylized facts of growth at risk. Accounting for …

(LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the … vulnerabilities. Further, the paper presents operational issues faced by debt managers, including the need to develop a risk …

Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It … approaches to assess and monitor cyber risk to the financial sector, including various approaches to stress testing. The paper …