We examine the effects of too-big-to-fail reforms using ΔCoVaR and SRISK. These systemic risk measures suggest that i) the systemic risk contribution of global systemically important banks (G-SIBs) has declined to a larger extent than other banks following the reforms; and ii) the larger the...

This paper examines the driving effect of economic policy uncertainty on bank systemic risk with a distinction between systemic linkage and bank tail risk. Using bank-level data of 25 economies during the period 2010-2020, we find consistent and robust evidence that policy uncertainty is...

This paper examines the driving effect of economic policy uncertainty on bank systemic risk with a distinction between systemic linkage and bank tail risk. Using bank-level data of 25 economies during the period 2010-2020, we find consistent and robust evidence that policy uncertainty is...

This paper investigates the complementarity between the different macroprudential policies to contain bank systemic risk. We use a newly updated version of the IMF survey on Global Macroprudential Policy Instruments (GMPI). By disentangling the aggregate macroprudential policy index, we assess...