This paper investigates the impact of Contingent Convertible (CoCo bonds) on systemic risk. Based on the network and liquidity channel, we compare the differences in default contagion and clearing payment between financial systems with and without CoCo bonds. By analyzing the sensitivity of...

This paper investigates the impact of Contingent Convertible (CoCo) bonds on systemic risk using Eisenberg-Noe's financial network method, where the network is linked by debt relationship. The default contagion and loss amplification due to network linkage measure the systemic risk, from which...

Following the order of events, this paper makes a systematic and comprehensive summary of how the global financial crisis of 2008 affected China. It includes an econometric assessment using by-industry and by-region data, and describes the role of government regulation from a new perspective....