Systemic risk has been one of the most interesting issues in banking and financial literature during the last years, particularly in evaluating its effects on the stability of the whole financial system during crises. Differently from other studies which analyze systemic risk focusing on...

Electronic money (e-money), as a network good, could become an important form of currency in the future. Such a development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central bank reserves, this limitation would require changes...

This paper examines the relationship between the quality of banking supervision and governance of the supervisory agency. The analysis is based on indices constructed from the assessment of the Basel Core Principles for Effective Banking Supervision that measure the quality of banking...