Raykov, Radoslav; Silva-Buston, Consuelo - 2022 - Last updated: May 2, 2022
asymmetric systemic risk, measure it with net exposure metrics, and explore the consequences and channels behind it. We show that … vice versa. On the contrary, we document that risk transmission is stronger in the system-to-bank direction. We term this … banks with positive net exposure to the system had higher default risk during the 2008 crisis, and that bank size and …