Similar Search Results

Bank exposures and sovereign stress transmission

Altavilla, Carlo; Pagano, Marco; Simonelli, Saverio - 2016

Using novel monthly data for 226 euro-area banks from 2007 to 2015, we investigate the causes and effects of banks' sovereign exposures during and after the euro crisis. First, in the vulnerable countries, the publicly owned, recently bailed out and less strongly capitalized banks reacted to...

Persistent link: https://www.econbiz.de/10011974892

ESBies : safety in the tranches

Brunnermeier, Markus Konrad; Langfield, Sam; Pagano, Marco - 2016 - This draft: September, 2016

The euro crisis was fueled by the diabolic loop between sovereign risk and bank risk, coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a union-wide safe asset without joint liability, would help to resolve these problems. We make three contributions. First,...

Persistent link: https://www.econbiz.de/10011975194

How does risk flow in the credit default swap market?

D'Errico, Marco; Battiston, Stefano; Peltonen, Tuomo; … - 2016

We develop a framework to analyse the Credit Default Swaps (CDS) market as a network of risk transfers among counterparties. From a theoretical perspective, we introduce the notion of flow-of-risk and provide sufficient conditions for a bow-tie network architecture to endogenously emerge as a...

Persistent link: https://www.econbiz.de/10011975749

Mapping the interconnectedness between EU banks and shadow banking entities

Abad, Jorge; D'Errico, Marco; Killeen, Neill; Luz, Vera; … - 2017

This paper provides a unique snapshot of the exposures of EU banks to shadow banking entities within the global … challenging when shadow banking entities are domiciled in different jurisdictions. The analysis shows that many of the EU banks …' exposures are towards non-EU entities, particularly US-domiciled shadow banking entities. At the individual level, banks …

Persistent link: https://www.econbiz.de/10011976217

Short-selling bans and bank stability

Beber, Alessandro; Fabbri, Daniela; Pagano, Marco; … - 2018

In both the subprime crisis and the euro-area crisis, regulators imposed bans on short sales, aimed mainly at preventing stock price turbulence from destabilizing financial institutions. Contrary to the regulators' intentions, financial institutions whose stocks were banned experienced greater...

Persistent link: https://www.econbiz.de/10011978462