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propose a new bank systemic risk measure to consider the two components of systemic risk: cross-sectional and time dimension …. The aim is to highlight the “time-space dynamics” of contagion, i.e., if the CDS spread of bank i depends on the CDS …. Moreover, we analyse the role of the European Central Bank in managing contagion risk. We find that monetary policy has been …
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Although a large series of papers have been concerned with macroeconomic issues such as price stability or employment, very few studies have discussed the impact of the euro on the competitive structure of European banking markets. Two questions are being addressed in this paper: How does the...
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