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"Systemic Risk, Crises, and Macroprudential Regulation"

Xavier Freixas, José-Luis Peydró, and Luc Laeven

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.001.0001
Subject:
Economics and Finance, Public and Welfare

Macroprudential regulation is the latest buzzword in economics but it means different things to different people. This book offers a framework to operationalize macroprudential policy. It defines ... More


The Determinants of European Bank Exposure to Systemic Shocks

Jens Hagendorff

in Size, Risk, and Governance in European Banking

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199694891
eISBN:
9780191748820
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199694891.003.0005
Subject:
Business and Management, Finance, Accounting, and Banking

The purpose of this chapter is to analyse whether a European banking system, which consists of smaller and more specialised banking firms and is regulated with a larger set of prudential rules than ... More


A Primer on Systemic Risk

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0002
Subject:
Economics and Finance, Public and Welfare

This chapter gives a definition of systemic risk, describes the real consequences of systemic risk, and presents a taxonomy and illustration of systemic financial crises throughout history. It ... More


Measuring Systemic Risk

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0007
Subject:
Economics and Finance, Public and Welfare

This chapter gives an overview of existing methods to measure systemic risk. The objective of this chapter is to provide guidance on how one should measure systemic risk in practice, including in ... More


Taxation and Regulation of the Financial Sector

Ruud de Mooij and Gaëtan Nicodème (eds)

Published in print:
2015
Published Online:
May 2015
ISBN:
9780262027977
eISBN:
9780262321099
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027977.001.0001
Subject:
Economics and Finance, Financial Economics

The financial crisis has revealed many problems in the transparency and functioning of the financial sector. New debates on regulation and taxation of the financial sector have emerged as economists ... More


Systemic Risk and Macroprudential Regulation

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0009
Subject:
Economics and Finance, Public and Welfare

This chapter presents the “new” financial regulatory framework that relies on both microprudential and macroprudential policies to manage systemic risk. It gives an overview of macroprudential tools ... More


Taxation and Regulation of Banks to Manage Systemic Risk

Brian Coulter, Colin Mayer, and John Vickers

in Taxation and Regulation of the Financial Sector

Published in print:
2015
Published Online:
May 2015
ISBN:
9780262027977
eISBN:
9780262321099
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027977.003.0004
Subject:
Economics and Finance, Financial Economics

A natural economic response to systemic risk, as a form of negative externality, is to look attaxation to correct it. However, this chapter argues that systemic risk is not a standard externality. ... More


Monetary Policy and Systemic Risk

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0010
Subject:
Economics and Finance, Public and Welfare

This chapter analyzes monetary policy and systemic risk, and the interrelation with macroprudential policy. It analyzes the role of monetary policy to reduce ex-ante build-up of financial imbalances ... More


Systemic Risk: A Theoretical Framework

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0003
Subject:
Economics and Finance, Public and Welfare

This chapter presents a basic theoretical framework of systemic risk to explain its underlying drivers and to guide regulatory policy, in particular macroprudential regulation. The basic framework ... More


For Want of a Nail

Yossi Sheffi

in The Power of Resilience: How the Best Companies Manage the Unexpected

Published in print:
2015
Published Online:
May 2016
ISBN:
9780262029797
eISBN:
9780262330626
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262029797.003.0013
Subject:
Economics and Finance, Financial Economics

One of the major themes of the book, explored in Chapter 13, is the growing dependency of companies on deep-tier suppliers as well as on concentrations of supply sources that create fragile ... More


Systemic Risk and Microprudential Regulation

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0008
Subject:
Economics and Finance, Public and Welfare

This chapter presents the classical banking regulatory framework relying exclusively on microprudential policy and its relevance for future regulatory policy. It offers the rationale for ... More


Systemic Risk Potential and Opacity in European Banks

Jens Hagendorff

in Size, Risk, and Governance in European Banking

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199694891
eISBN:
9780191748820
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199694891.003.0008
Subject:
Business and Management, Finance, Accounting, and Banking

This chapter focuses on the relationship between systemic risk potential (measured via synchronicity in stock price movements) and opacity in European banks. Regulatory initiatives that enhance the ... More


Financial Activities Taxes, Bank Levies, and Systemic Risk

Giuseppina Cannas, Jessica Cariboni, Massimo Marchesi, Gaëtan Nicodème, Marco Petracco Giudici, and Stefano Zedda

in Taxation and Regulation of the Financial Sector

Published in print:
2015
Published Online:
May 2015
ISBN:
9780262027977
eISBN:
9780262321099
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262027977.003.0010
Subject:
Economics and Finance, Financial Economics

The question of additional taxes on banking institutions has recently been debated. At the same time, financial regulation in the banking sector is undergoing many changes aimed at strengthening ... More


Regulatory governance, risk, and the new security economies

Josef W. Konvitz

in Cities and Crisis

Published in print:
2016
Published Online:
May 2016
ISBN:
9781784992903
eISBN:
9781526103970
Item type:
chapter
Publisher:
Manchester University Press
DOI:
10.7228/manchester/9781784992903.003.0008
Subject:
Political Science, Political Economy

Governments regulate in response to crises of all kinds. Regulatory policy has emerged as a distinctive field of government in the past 25 years, with standards for cost-benefit analysis, impact ... More


Introduction

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0001
Subject:
Economics and Finance, Public and Welfare

The Introduction introduces the topic of the book, explains the rationale for writing the book, and gives an overview of the book. It explains how a call for macroprudential policy grew out of the ... More


Contagion

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0005
Subject:
Economics and Finance, Public and Welfare

This chapter gives an overview of the literature on financial contagion, with special emphasis on interconnectedness and liquidity risk. Not only direct contagion is analyzed, but also the so-called ... More


Systemic Risk and the Real Costs of Financial Crises

Xavier Freixas, Luc Laeven, and José-Luis Peydró

in "Systemic Risk, Crises, and Macroprudential Regulation"

Published in print:
2015
Published Online:
September 2016
ISBN:
9780262028691
eISBN:
9780262328609
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028691.003.0006
Subject:
Economics and Finance, Public and Welfare

This chapter describes the consequences of systemic risk for the economy at large. Financial crises are followed by strong and persistent negative effects in terms of aggregate output, as the history ... More


Panel Discussion on the Volcker Rule

Charles W. Calomiris and Matthew Richardson

in Perspectives on Dodd-Frank and Finance

Published in print:
2014
Published Online:
May 2015
ISBN:
9780262028035
eISBN:
9780262325929
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262028035.003.0008
Subject:
Economics and Finance, Financial Economics

Professor Matt Richardson argues that proprietary trading was a source of systemic risk because it allowed banks to take highly-levered directional bets. He discusses several criticisms of the ... More


A European Framework for Macro-Prudential Oversight

Chryssa Papathanassiou and Georgios Zagouras

in Financial Regulation and Supervision: A post-crisis analysis

Published in print:
2012
Published Online:
April 2015
ISBN:
9780199660902
eISBN:
9780191806902
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199660902.003.0006
Subject:
Law, Company and Commercial Law

This chapter discusses the new supervisory framework brought by the reforms of the EU after the 2008 financial crisis, focusing on the formation and duties of the European Systemic Risk Board (ESRB). ... More


China in the Global Economy: Encountering the Systemic Risks

Amiya Kumar Bagchi and Anthony P. D’Costa

in Transformation and Development: The Political Economy of Transition in India and China

Published in print:
2012
Published Online:
January 2013
ISBN:
9780198082286
eISBN:
9780199082377
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198082286.003.0008
Subject:
Political Science, Comparative Politics

China has become closely integrated with the outside world, not only with its huge exports and foreign direct investment (FDI) inflows but also in terms of short-term capital flows. The first two ... More


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