We investigate the recent financial crisis with an emphasis on the interlock among housing, mortgage, and credit markets. Following Geanakoplos (Econometric Society Monographs 2:170–205, <CitationRef CitationID="CR5">2003</CitationRef>, <CitationRef CitationID="CR6">2010</CitationRef>), we develop a model in which both prices of the mortgage and its collateral are simultaneously...</citationref></citationref>

This paper examines the impact of financial market development, financial crises and deposit insurance on bank risk based on macro data of 86 countries during the period 1998-2014. The results show that banking sector development and stock market development have opposing effects on bank risk...