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Capital Adequacy in Insurance and Reinsurance

Scott E. Harrington

in Capital Adequacy beyond Basel: Banking, Securities, and Insurance

Published in print:
2005
Published Online:
January 2007
ISBN:
9780195169713
eISBN:
9780199783717
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195169713.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter considers capital adequacy and capital regulation of insurers and reinsurers. A basic theme is that capital standards should be less stringent for financial sectors characterized by ... More


The Economics of Systemic Risk in International Settlements

Kern Alexander, Rahul Dhumale, and John Eatwell

in Global Governance of Financial Systems: The International Regulation of Systemic Risk

Published in print:
2005
Published Online:
September 2007
ISBN:
9780195166989
eISBN:
9780199783861
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195166989.003.0009
Subject:
Economics and Finance, Financial Economics

This chapter examines the extent to which different settlement systems affect the nature of systemic risks and the potential vulnerability of the financial system to such problems. It considers ... More


Regulation and Taxation: Economics and Politics

Donato Masciandaro and Francesco Passarelli

in Taxation and the Financial Crisis

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199698165
eISBN:
9780191738630
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199698165.003.0011
Subject:
Economics and Finance, Financial Economics

We describe systemic financial risk as a negative externality. Free riding leads to excess risk production. We consider two instruments usually adopted to tackle this problem: financial regulation ... More


Systemic Risk in Global Banking

Roy C. Smith, Ingo Walter, and Gayle Delong

in Global Banking

Published in print:
2012
Published Online:
May 2012
ISBN:
9780195335934
eISBN:
9780199932146
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195335934.003.0014
Subject:
Economics and Finance, Economic Systems

This chapter discusses essential regulatory principles for controlling systemic risk: Systemic financial intermediaries like large and complex financial institutions (LCFIs), which are thought to be ... More


The Economic Theory of Systemic Risk

E. Philip Davis

in Debt, Financial Fragility, and Systemic Risk

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.003.0006
Subject:
Economics and Finance, Financial Economics

Turning from financial fragility to systemic risk, the next two chapters seek to make an initial assessment of the causes, nature, and consequences of financial instability in contemporary financial ... More


Debt, Financial Fragility, and Systemic Risk

E. Philip Davis

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.001.0001
Subject:
Economics and Finance, Financial Economics

A remarkable feature of the period since 1970 has been the patterns of rapid and turbulent change in financing behaviour and financial structure in many advanced countries. These patterns have, 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


How Should Market Infrastructure Institution Governance Be Regulated?

Ruben Lee

in Running the World's Markets: The Governance of Financial Infrastructure

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691133539
eISBN:
9781400836970
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691133539.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explores what regulatory intervention in the governance of market infrastructure institutions is optimal. Attention is focused on how such intervention can enhance the realization of the ... 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


Systemic Risk and Financial Market Structure

E. Philip Davis

in Debt, Financial Fragility, and Systemic Risk

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.003.0008
Subject:
Economics and Finance, Financial Economics

Chapters 5 and 6 identified a number of features common to most periods of financial instability in recent decades; these observations were felt to validate to some extent the various theories of ... 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


The Role of Policy and Banking Supervision in the Light of the Credit Crisis

Avinash D. Persaud

in Time for a Visible Hand: Lessons from the 2008 World Financial Crisis

Published in print:
2010
Published Online:
February 2010
ISBN:
9780199578801
eISBN:
9780191723285
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199578801.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

Persaud provides in his chapter complementary analysis on the design of banking regulation and supervision in the light of the credit crisis. In the author's view, two fundamental flaws in financial ... 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


How to Calculate Systemic Risk Surcharges

Viral V. Acharya, Lasse H. Pedersen, Thomas Philippon, and Matthew Richardson

in Quantifying Systemic Risk

Published in print:
2013
Published Online:
September 2013
ISBN:
9780226319285
eISBN:
9780226921969
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226921969.003.0007
Subject:
Economics and Finance, Econometrics

This chapter analyzes a scheme to charge financial firms for their systemic risk contributions, based on the price of their contingent capital insurance. It provides an explicit calculation formula ... 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


Systemic Risk: The Dynamics of Modern Financial Systems

Prasanna Gai

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199544493
eISBN:
9780191747175
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199544493.001.0001
Subject:
Economics and Finance, Financial Economics

This book opens new ground in the study of financial crises. It treats the financial system as a complex adaptive system and shows how lessons from network disciplines—such as ecology, epidemiology, ... More


Debt

E. Philip Davis

in Debt, Financial Fragility, and Systemic Risk

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.003.0002
Subject:
Economics and Finance, Financial Economics

This section offers an essential background for the analysis of the rest of the book. It outlines the nature of the debt contract; aspects of the economics of debt; theories of credit rationing and ... 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


Economic Effects of Financial Fragility

E. Philip Davis

in Debt, Financial Fragility, and Systemic Risk

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198233312
eISBN:
9780191596124
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198233310.003.0005
Subject:
Economics and Finance, Financial Economics

Chapters 2 and 3 focused largely on the direct costs of financial fragility, namely increased business failures, household bankruptcies, and mortgage foreclosures. It was noted (Ch. 2, Sect. 3) that ... More


"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


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