We argue that the fundamental cause of the financial crisis of 2007–2009 was that large, complex financial institutions ("LCFIs") took excessive leverage in the form of manufacturing tail risks that were systemic in nature and inadequately capitalized. We employ a set of headline facts about...

Purpose – The research question which this paper aims to address is: To what extent does (labour) flexibility contribute to crisis resistance at establishment level? More specifically, the authors seek to analyse the determinants of variation in the extent to which establishments showed...

Purpose – The research question which this paper aims to address is: To what extent does (labour) flexibility contribute to crisis resistance at establishment level? More specifically, the authors seek to analyse the determinants of variation in the extent to which establishments showed...