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The papers in this volume were commissioned with the aim of exploring the significant structural changes in the financial system over the past decade or so and the implications for policy-makers charged with the responsibility of maintaining financial system stability
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"During extreme financial crises, all of a sudden, the financial world that was once rife with profit opportunities for financial institutions (banks, for short), becomes exceedingly complex. Confusion and uncertainty follow, ravaging financial markets and triggering massive flight-to-quality...
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The measurement of bank output, a difficult and contentious issue, has become even more important in the aftermath of … information and transactions imply a quantity measure of bank service output based on transaction counts instead of balances of … on balances, this implies a potentially considerable bias in the estimate of bank output growth in Europe vis-à-vis that …
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