, eventually, greater reliance on liquidity support from the European Central Bank …

When a bank experiences a negative shock to its equity, one way to return to target leverage is to sell assets. If … asset sales occur at depressed prices, then one bank's sales may impact other banks with common exposures, resulting in … explains how the distribution of bank leverage and risk exposures contributes to a form of systemic risk. We compute bank …

We show that Eurozone bank risks during 2007-2012 can be understood as a "carry trade" behavior. Bank equity returns … exploit government guarantees, arbitrage regulatory risk weights, and access central-bank funding, we find that this carry …-GIPSI countries' banks, but not so for similar banks in other Western economies or for non-bank firms …

taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price … reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in … that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration …

. Finally, for Europe we assess the relative importance of cross-border bank spillovers as compared to domestic bank spillovers …

one large, universal bank remained. We explore the extent to which that merger resulted in monopoly rents for the combined …