the global financial crisis. This is due in part to the fact that many small economies continue to use hard exchange rate … hard fixers have been similar to those for inflation targeters during the Global Financial Crisis and its aftermath. …

Systemic risk is modeled as the endogenously chosen correlation of returns on assets held by banks. The limited … systemic risk-shifting incentive where all banks undertake correlated investments, thereby increasing economy-wide aggregate … risk. Regulatory mechanisms such as bank closure policy and capital adequacy requirements that are commonly based only on a …

respective major crisis triggers (Lehman’s collapse in the US and the 2009 admission by Papandreou, that Greece’s deficit was … those widely observed crisis triggers is similar in the EA and in the US, the behavior of their reserves is quite different …

financial crisis of 2007-09, they raised substantial amounts of new capital, both from private investors and through government …

crisis since mid-2007. We also find that there is some tendency of the yield movements to be larger when the demand for the … dealers require compensation for inventory risk and this compensation needs to be higher when market uncertainty is larger. We … explanation of yield movements based on the behaviour of primary dealers with limited risk-bearing capacity. …

relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis … firms in a crisis. Using detailed credit register information for Italian banks before and after the Lehman Brothers …' default, we are able to study how relationship and transaction-banks responded to the crisis and we test existing theories of …

are not stronger during the 2008-2009 crisis; if anything, the opposite is true. We then show that this weaker resilience …