Can consolidation policy be made consistent with macro-prudential supervision? In this study, we seek to provide new insights on this key-question using a network approach. We study how the resilience of a banking network evolves as we shock an initially homogenous competitive market with a...

This paper employs panel techniques to empirically examine the link between the competitiveness of the banking sector and real economic growth, using data from a sample of OECD economies during 1997-2010. We employ a dynamic GMM model to find that an increase in the efficiency of banks driven by...

The likelihood of success of grantmaking on large scale projects depends in general on pieces of information widely dispersed and privately held by recipients, public agencies, nongovernmental organizations and other interested parties. In this paper we discuss how philanthropists could...

The bilateral netting of mutual obligations is an institutional arrange- ment usually employed in payment systems to reduce settlement risks. In this paper we explore its advantages and pitfalls when applied to an inter- bank lending market, in which banks extend credit to nÃÉand borrow from...

This paper o¬¨√üers additional evidence on the structure of the international financial network as emerging from the Coordinated Portfolio Investment Survey (CPIS) dataset collected by the IMF. Making use of blockmodeling techniques which allow us to ‚àöñt a given...

This paper formulates a bio-economic model that specifies the sequentiality of allocative choice on a migratory beekeeping farm in discrete form. It is assumed that the modeled farm operates in conditions of certainty and, allocating an apiary to forage sites, produces only two marketable...

Why did some countries in the Euro Zone between 2010 and 2012 - until the European Central Bank stepped in - experience a dramatic vicious circle between hard austerity plans and rising default risk premia? Were such plans too small, and hence non credible, or too large, and hence non...

Maximum likelihood estimation of spatial models based on weight matrices typically requires a sizeable computational capacity, even in rel- atively small samples. The unilateral approximation approach to spatial models estimation has been suggested in Besag (1974) as a viable alternat- ive to...

The link between specialization and resilience in the organizational design literature is oftentimes characterized as a trade-off: either organizations attune their structures to a narrow class of external stimuli, or they choose the ability to manage a wide variety of inputs, thus increasing...