regulating systemic risk. First, it argues that systemic shocks are inevitable. Accordingly, regulation should be designed not …

information from trading the contract can improve conventional tools of financial regulation (e.g., bank examinations, capital …

the absence of regulation, market participants cannot be relied upon to disrupt or otherwise limit the transmission of … systemic risk. Finally, we advance an analytical framework to inform systemic risk regulation …

the absence of regulation, market participants are poorly situated to disrupt the transmission of systemic risk. Finally …

A decade after the financial crisis, regulators worry that the regulation enacted to help stabilize the financial … system may be insufficient to prevent another crisis. Examining that regulation with the benefit of hindsight, this Article … finds that much has been accomplished but much remains to be done. Most of the existing regulation is ad hoc, providing …

inefficiently low levels of macro-prudential regulation. A central regulator internalizes the systemic risk and thereby can improve … different levels of macro-prudential regulation when they act independently. Common central regulation will voluntarily emerge …