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Covered bonds, core markets, and financial stability
Anand, Kartik; Chapman, James; Gai, Prasanna - 2012
We examine the financial stability implications of covered bonds. Banks issue covered bonds by encumbering assets on their balance sheet and placing them within a dynamic ring fence. As more assets are encumbered, jittery unsecured creditors may run, leading to a banking crisis. We provide...
Persistent link: https://www.econbiz.de/10010318759
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The effect of the interbank network structure on contagion and financial stability
Georg, Co-Pierre - 2010
In the wake of the financial crisis it has become clear that there is a need for macroprudential oversight in addition to the existing microprudential banking supervision. One of the lessons from the crisis is that the network structure of the banking system has to be taken into account to...
Persistent link: https://www.econbiz.de/10010334482
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The dynamics of spillover effects during the European sovereign debt turmoil
Alter, Adrian; Beyer, Andreas - 2012
In this paper we develop empirical measures for the strength of spillover effects. Modifying and extending the framework by Diebold and Yilmaz (2011), we quantify spillovers between sovereign credit markets and banks in the euro area. Spillovers are estimated recursively from a vector...
Persistent link: https://www.econbiz.de/10010311789
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Finding communities in credit networks
Bargigli, Leonardo; Gallegati, Mauro - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-17, pp. 1-39
In this paper the authors focus on credit connections as a potential source of systemic risk. In particular, they seek to answer the following question: how do we find densely connected subsets of nodes within a credit network? The question is relevant for policy, since these subsets are likely...
Persistent link: https://www.econbiz.de/10010312011
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A network model of financial system resilience
Anand, Kartik; Gai, Prasanna; Kapadia, Sujit; Brennan, Simon - 2011
We examine the role of macroeconomic fluctuations, asset market liquidity, and network structure in determining contagion and aggregate losses in a financial system. Systemic instability is explored in a financial network comprising three distinct, but interconnected, sets of agents - domestic...
Persistent link: https://www.econbiz.de/10010281490
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Explaining bank failures in the United States: The role of self-fulfilling prophecies, systemic risk, banking regulation, and contagion
Herger, Nils - 2008
Using count data on the number of bank failures in US states during the 1960 to 2006 period, this paper endeavors to establish how far sources of economic risk (recessions, high interest rates, inflation) or differences in solvency and branching regulation can explain some of the fragility in...
Persistent link: https://www.econbiz.de/10011430078
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Contagion effects of the Silicon Valley Bank run
Choi, Dong Beom; Goldsmith-Pinkham, Paul; Yorulmazer, Tanju - 2023
This paper analyzes the contagion effects associated with the failure of Silicon Valley Bank (SVB) and identifies bank-specific vulnerabilities contributing to the subsequent declines in banks' stock returns. We find that uninsured deposits, unrealized losses in held-to-maturity securities, bank...
Persistent link: https://www.econbiz.de/10014540982
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Migration as an adjustment mechanism in the crisis? A comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2014
new light on this question by comparing pre- and post-crisis migration movements at the regional level in both Europe and … in Europe. Indeed, in contrast to the pre-crisis situation and the findings of previous empirical studies, there is … tentative evidence that the migration response to the crisis has been considerable in Europe, in contrast to the United States …
Persistent link: https://www.econbiz.de/10010478924
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Migration as an adjustment mechanism in the crisis? A comparison of Europe and the United States
Jauer, Julia; Liebig, Thomas; Martin, John P.; Puhani, … - 2014
new light on this question by comparing pre- and post-crisis migration movements at the regional level in both Europe and … in Europe. Indeed, in contrast to the pre-crisis situation and the findings of previous empirical studies, there is … tentative evidence that the migration response to the crisis has been considerable in Europe, in contrast to the United States …
Persistent link: https://www.econbiz.de/10010484712
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Is religiosity of immigrants a bridge or a buffer in the process of integration? A comparative study of Europe and the United States
García-Muñoz, Teresa; Neuman, Shoshana - 2012
sides of the Atlantic - Europe and the United States. Based on the existing literature and on a statistical analysis of … religious landscape of Europe and of the United States and projections for the future; (ii) religiosity of immigrants (in Europe … religiosity and integration different in Europe and in the United States, due to historical differences in the state …
Persistent link: https://www.econbiz.de/10010282226