should be injected during a default episode or to evaluate the impact of raising capital before the occurrence of default …

This paper analyzes the contagion effects associated with the failure of Silicon Valley Bank (SVB) and identifies bank …

economy. Our framework incorporates the interactions between the network of banks (exhibiting contagion mechanisms among them …) and the network of firms (transmitting shocks to each other along the supply chain) which systems are linked together via …

We propose an algorithm to model contagion in the interbank market via what we term the credit quality channel. In … existing models on contagion via interbank credit, external shocks to banks often spread to other banks only in case of a … default. In contrast, shocks are transmitted via asset devaluations and deteriorations in the credit quality in our algorithm …

securities that were hard to value. These securities created concerns about counterparty risk and ultimately created substantial …

We examine sources of systemic risk (threshold size, complexity, and interconnectedness) with factors constructed from … equity returns of large financial firms, after accounting for standard risk factors. From the factor loadings and factor … returns, we estimate the implicit government subsidy for each systemic risk measure, and find that, from 1963 to 2006, only …

-2007), crisis (2008-2010), post-crisis (2011-2013) and normalcy (2014-2016). We find that risk metrics such as leverage and …