The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

Game theory is the pocket knife of conflict modelling: it has tools, models for practically all strategic conflicts, be that two- or multiplayer, complete or incomplete information and so on. In this study we have collected relevant tools for young lawyers. Since this is an introductory text we...

Game theory is the pocket knife of conflict modelling: it has tools, models for practically all strategic conflicts, be that two- or multiplayer, complete or incomplete information and so on. In this study we have collected relevant tools for young lawyers. Since this is an introductory text we...

The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

We provide an introduction to optimal fiscal and monetary policy using the primal approach to optimal taxation. We use this approach to address how fiscal and monetary policy should be set over the long run and over the business cycle. We find four substantive lessons for policymaking: Capital...