2007, and especially in the euro area after 2010. That crisis triggered major changes to European financial regulation and …

This chapter of the forthcoming Oxford Handbook of Financial Regulation considers, in broad historical perspective and … financial crises and regulation. It begins with an overview of financial crises generally, and then considers both the … historical and potential future role of regulation in financial crises. It discusses various theories of the roots of financial …

Bank regulation is based on the premise that risks spill over more easily from large banks to the banking system than … vice versa. On the contrary, we document that risk transmission is stronger in the system-to-bank direction. We term this … banks with positive net exposure to the system had higher default risk during the 2008 crisis, and that bank size and …