We analyze the design of bailout regimes when investment is distorted by a toomany-to-fail problem. The first-best allocation equalizes benefits from more banks investing in high-return projects with endogenously higher systemic risk due to more banks failing simultaneously. A standard bailout...

This article delves into the diverse and complex nature of conceptualising misinformation as an object of research, highlighting the interdisciplinary scholarship in this field that results in varied and sometimes conflicting definitions. While a singular theory of misinformation is neither...

White et al. (2015) extend the vector autoregressive (VAR) for conditional mean to VAR for conditional quantiles (VAR-VaR) to capture the interdependencies among the quantiles of multiple time series. In this paper, we introduce a post-lasso estimator to extend VAR-VaR to the high-dimensional...