efficiently with cross-border issues. To track and control insolvency risk within and across any set of countries, officials must …

their risk assessments and outcomes to those from a simple methodology that relies on publicly available market data and … market data; (iii) This discrepancy arises due to the reliance on regulatory risk weights in determining required levels of … capital once stress-test losses are taken into account. In particular, the continued reliance on regulatory risk weights in …

In this paper, we investigate whether U.S. bank holding companies (BHCs) with strong and independent risk management … functions have lower enterprise-wide risk. We hand-collect information on the organizational structure of the risk management … function at the 74 largest publicly-listed BHCs, and use this information to construct a Risk Management Index (RMI) that …

We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other … OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing … through factor income and capital gains was close to zero before 1999 but has increased since then. Risk sharing from capital …

idiosyncratic entrepreneurial risk-- a risk that introduces, not only a precautionary motive for saving, but also a wedge between …

This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been … adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and … pseudo-systemic risk. We examine the history of episodes commonly viewed either as financial crises or as evidencing systemic …

superior. The intuition is simple: if underlying technologies are not convex, then risk-sharing can lower expected utility. The … likelihood of a bankruptcy cascade, "contagion," and systemic risk …