of information on household exposures to macroeconomic risk factors - can potentially lead to better macroeconomic …

Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play … in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is … after the establishment of clearing. We also show that at least ½ of the average reduction in counterparty risk on the NYSE …

random and therefore create liquidity risk, which in turn determines the supply of credit and the money multiplier. We study … profiting from lending and incurring greater liquidity risk. We calibrate our model to study quantitatively why banks have …

assistance that are not directly related to failure risk) for analyzing the effects of RFC assistance on bank survival. We find … assistance not only contributed to loan supply by reducing failure risk; conditional on bank survival, RFC assistance is …

model implies that political uncertainty commands a risk premium whose magnitude is larger in weaker economic conditions …

, and an inflation channel for both QE1 and QE2, and an MBS pre-payment channel and a corporate bond default risk channel … corporate credit risk and thus corporate yields for QE1, and (b) Treasuries-only purchases in QE2 had a disproportionate effect …

risk. Current reporting standards for derivatives exposures are nevertheless inadequate for assessing these systemic risk … contributions. In this paper, I explain how a transparency standard, in contrast to the current standard, would facilitate such risk … lack of standardization, they cannot be aggregated to assess the risk to the system. I highlight the important contribution …