Systemic risk refers to the risk of financial system breakdown due to linkages between institutions. This risk cannot … for the task of assessing systemic risk and the new European Systemic Risk Board needs to address this issue. There is a … lot of exciting ongoing research devoted to measuring systemic risk and providing signals to regulators as to when and …

Rather than taking on more risk, US insurers hit hard by the crisis pulled back from risk taking, relative to insurers … hit less hard by the crisis. Capital requirements alone do not explain this risk reduction: insurers hit hard reduced risk … within assets with identical regulatory treatment. State level US insurance regulation makes it unlikely this risk reduction …

We investigate the extent to which various structural risks exacerbate the materialization of cyclical risk. We use a … role in explaining the severity of cyclical and credit risk materialization during financial cycle contractions. Among …