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Lessons from international central counterparties : benchmarking and analysis
Lazarow, Alexandre - 2011
Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a … risk. -- Financial system regulation and policies ; Financial stability ; Payment, clearing, and settlement systems …
Persistent link: https://www.econbiz.de/10009130555
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On collateral : implications for financial stability and monetary policy
Corradino, Stefano; Heider, Florian; Hoerova, Marie - 2017
This paper examines the role of collateral in the financial system, with special emphasis on the implications for financial stability and the conduct of monetary policy. First, we review what drives the demand and supply for both real and financial collateral assets. Then we examine financial...
Persistent link: https://www.econbiz.de/10011745798
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When 'No News' is Bad News : Complexity and Uncertainty in the Global Crisis of 1914
Fohlin, Caroline - 2016
I use the global crisis of 1914 as a window onto the phenomenon of investor reaction to complex news — such as sudden political upheaval. Based on a novel database of all stocks traded on the NYSE during 1914, along with “real-time” news accounts from major newspapers, I show that NYSE...
Persistent link: https://www.econbiz.de/10012978570
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Contagion and spillovers : new insights from the crisis : a joint publication with the Austrian Society for Bank Research
Backé, Peter (ed.); Gnan, Ernest (ed.);  … - Contagion and Spillovers – New Insights from the …; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011706561
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Will financial liberalization trigger the first crisis in the People's Republic of China? : lessons from cross-country experiences
Gou, Qin; Huang, Yiping - 2018
The People's Republic of China (PRC) is beginning a new wave of financial liberalization, which is necessary to support strong economic growth, but will financial liberalization lead to major financial crises, as happened in many middle-income countries? The empirical examinations conducted in...
Persistent link: https://www.econbiz.de/10011804485
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LIBOR : origins, economics, crisis, scandal, and reform
Hou, David; Skeie, David - 2014
The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to trillions more in variable-rate mortgage and student loans....
Persistent link: https://www.econbiz.de/10010393220
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Dealing with financial crises : how much help from research?
Pagano, Marco - 2014
Has economic research been helpful in dealing with the financial crises of the early 2000s? On the whole, the answer is negative, although there are bright spots. Economists have largely failed to predict both crises, largely because most of them were not analytically equipped to understand...
Persistent link: https://www.econbiz.de/10010413174
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Systemic Risk : The Impact of COVID-19
Rizwan, Muhammad Suhail - 2020
pressure. This study examines the impact of COVID-19 on the systemic risk in eight of the most affected countries. Results … indicate a significant increase in systemic risk during the pandemic. All the sample countries exhibit stagnancy (at an … elevated level) in systemic risk during April 2020 except for China which has shown some recovery. By using the spillover …
Persistent link: https://www.econbiz.de/10012832481
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Has Financial Innovation Made the World Riskier? CDS, Regulatory Arbitrage and Systemic Risk
Yorulmazer, Tanju - 2013
systemic risk. Equity capital acts as a buffer against losses, and reduces incentives for excessive risk taking. Basel capital … lower capital requirements resulting in excessive risk taking. Furthermore, the bank and the CDS seller (insurer) prefer … high correlation in their returns and jointly shift the risk to the regulator. CDS can be traded at a price higher than its …
Persistent link: https://www.econbiz.de/10013089650
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Contagion and Spillovers: New Insights from the Crisis
Backé, Peter; Feldkircher, Martin; Gnan, Ernest; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011689946