European Union countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the second world war. Financial regulatory and supervisory integration was a very slow process before 2008, despite...

This study examines the relationship between commodity futures and global stocks. For the first time, we examine the financialization of commodity futures by employing a quantile regression approach. From 2004-2013, we confirm a strong degree of dependence in energy commodities with moderate...

We address the problem of regulating the size of banks' macroprudential capital buffers by using market-based estimates of systemic risk and by developing a modeling mechanism through which capital buffers can be allocated efficiently across systemic banks. First, a Distance-to-Default type...

Approximately 3,000 lobbyists had swarmed the Capitol Hill in hopes of killing off pieces of the proposed Dodd-Frank Act — nearly six lobbyists for every member of Congress. Despite the onslaught, Dodd-Frank got stronger rather than weaker which is unusual