Search Results - subject_exact:"Financial stability"

Regulatory responses to the financial stability implications of stablecoins

Bindseil, Ulrich - 2026 - Final version: 11 February 2026

In essence, the currently large stablecoins are electronic money issued by narrow balance sheet vehicles into a distributed ledger (or a "programmable platform"). Many believe that they will have significant success as a new form of money. Members of the current US administration expect that US...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015610715

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Regulatory responses to the financial stability implications of stablecoins

Bindseil, Ulrich - 2026

Book / Working Paper

Designing a Central Bank Digital Currency (CBDC) Framework for Pakistan: A Delphi Study Approach

Raza, Hassan; Siddiqui, Danish Ahmed - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015640923

Effects of financial inclusion on financial stability : evidence from SSA countries

Damane, Moeti; Ho, Sin-yu - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015654418

The resilience of banks' exposure to the commercial real estate market in Slovenia

Ćirjaković, Jelena - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015608986

Survivorship bias in systemic risk estimation

Skouralis, Alexandros - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611084

Evaluation and prediction of stock market crash risk in Mexico using log-periodic power-law modeling

Sunil, Suryansh; Goyal, Amit Kumar; Mahadeva, Rajesh; … - 2026

This study applies the Log-Periodic Power-Law (LPPL) framework to three major equity markets-Mexico (IPC), Brazil (IBOVESPA), and the United States (NYSE Composite)-using daily closes from 8 November 1991-30 January 2025 for IPC and NYSE, and 3 May 1993-30 January 2025 for IBOVESPA. Multi-window...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611246

Role of artificial intelligence in finance : selective literature review and implications for Asia's financial stability

Zhang, Yang; Qiu, Ziang; Park, Donghyun; Tian, Shu - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611634

Financial stability under climate stress : empirical evidence from Namibia

Kaune, Jaungura; Esterhuizen, Andy; Undji, Valdemar J. - 2026

Climate change has emerged as one of the defining risks in recent years. These risks are associated with economic losses and, ultimately, the stability of the financial system. This study examines the impact of climate change on financial stability in Namibia using quarterly data spanning from...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614178

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Financial stability under climate stress : empirical evidence from Namibia

Kaune, Jaungura; Esterhuizen, Andy; Undji, Valdemar - 2025

Book / Working Paper

Systemic cyber risk

Baker, Steven D.; Lee, Michael Junho - 2026

We propose a quantitative framework to track systemic risk arising from cyber vulnerabilities of the U.S. financial system. Synthesizing financial, economic, cyber, and network data that covers thousands of financial institutions and technological firms, we develop an index that tracks...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614725

Climate change, bank liquidity and systemic risk

Giuzio, Margherita; Kahraman, Bige; Knyphausen, Jasper - 2026

This paper examines the relevance of banks' exposure to climate transition risk in the interbank lending market. Using transaction-level data on repo agreements, we first establish that banks with higher exposure to transition risk face significantly higher borrowing costs. This premium is a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592352

Private money and public debt. U.S. Stablecoins and the global safe asset channel

Ferrari, Massimo Minesso; Siena, Daniele - 2026

This paper studies the international macro-financial implications of U.S. dollar-backed payment stablecoins. These digital assets create a new global safe asset channel that links private money creation and global payment needs directly to U.S. public debt. By reshaping the demand for safe...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592687

Central bank digital currency, flight-to-quality, and bank-runs in an agent-based model

Barucci, Emilio; Gurgone, Andrea; Iori, Giulia; Azzone, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591185

Systemic operational risk in Morocco's banking sector : an empirical analysis using panel VAR

El Khadi, Kawtar; Firano, Zakaria - 2026

This study examines the systemic operational risk in Morocco's banking sector using a Panel VAR model based on data from three banks over ten years. The model includes real GDP, interbank rate (TMP), and bank credit, alongside indicators of operational, credit, and liquidity risks. The Impulse...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591384

A simple prudential-effort foundation for the financial trilemma

Nolan, Charles - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015604813

Digital pathways to stability : a cross-country analysis of the fintech-inclusion-stability nexus across selected countries

Saidi, Hichem - 2026

This paper examines the impact of fintech adoption and financial inclusion on financial stability in selected countries. Using panel data from 30 countries spanning 2011-2024, the study employs an empirical strategy based on Two-Way Fixed Effects, a dynamic two-step System GMM estimator, and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625821

Synthetic, but how much risk transfer?

Osberghaus, Alex; Schepens, Glenn - 2026

Banks use synthetic risk transfers (SRTs) to offload potential losses in their loan portfolios to non-bank investors while retaining the loans on their balance sheets. We investigate this trillion-euro market using transaction-level data from the euro area, the largest SRT market, and highlight...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626666

Does digital finance foster financial stability? : empirical evidence from cross-country analysis

Siddik, Md. Nur Alam; Habibullah, Muzafar Shah; … - 2026

The World Bank asserts that reducing extreme poverty and achieving shared prosperity are both made possible through financial inclusion. Digital finance may enhance financial stability, thereby supporting more inclusive and sustainable economic growth. Despite its potential benefits, the link...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628582

At cross-purposes : how prudential and monetary rate policies create asymmetric frictions in the banking sector

Widiyanti, Shandra; Siregar, Hermanto; Ratnawati, Anny; … - 2026

Indonesia's financial system is bank-centric, with banks managing approximately 78% of the nation's financial assets; therefore, the effectiveness of monetary policy transmission depends on banks' responsiveness to the central bank's interest rate policy (the BI Rate). However, a policy-relevant...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639037

Explosive price dynamics in global REIT markets : evidence from developed regions

Iancu, Laura Andreea - 2026

This paper investigates the presence and timing of explosive price dynamics in major listed real estate markets over the period 04 January 2011 - 11 February 2026. The analysis focuses on four benchmark indices: the FTSE EPRA Nareit Developed Europe Index, the FTSE Nareit All Equity REITs Index...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639899

Words that move markets : ECB presidential tone and euro area bank CDS spreads

Anastasiou, Dimitrios; Bratis, Theodoros; Katsafados, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015640044

Physical climate risk, credit risk and lending activity

Albertazzi, Ugo; Djekic, Davor; Marques, Aurea Ponte - 2026

We study how physical climate risk shapes bank lending activity and credit quality by combining high-resolution Copernicus flood geospatial maps with loan-level AnaCredit data. We exploit four major European floods (2021-2024) in a spatial regression discontinuity design comparing firms located...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641341

Ex machina: financial stability in the age of artificial intelligence

Anand, Kartik; Kazinnik, Sophia; Leonello, Agnese; … - 2026

Does artificial intelligence (AI) pose a threat to financial stability? We study AI investor behavior, specifically Q-learning and large language model (LLM) investors, in a mutual fund redemption problem with economic and strategic uncertainty. Different AI architectures generate systematically...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641349

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Ex machina : financial stability in the age of artificial intelligence

Anand, Kartik; Kazinnik, Sophia; Leonello, Agnese; … - 2025

Book / Working Paper

The role of biodiversity risk in shaping bank lending decisions

Bax, Karoline; Ćehajić, Aida - 2026

We examine whether banks incorporate firm-level biodiversity risk into their lending decisions. Using a large sample of syndicated loans matched to firm-level biodiversity risk measures, we document that borrowers with higher biodiversity risk face significantly higher loan spreads. Evidence on...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641461

Financial stability : unfinished business

Berner, Richard - 2026

Global financial stability is critical for sustainable economic growth. The post-global financial crisis reform program strengthened the banking system, and, despite several shocks, the global economy and financial system appear relatively resilient. But vulnerabilities persist in banks, are...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643930

Global banking with a Latin American rhythm

Berger, Allen N.; Karlström, Peter; Karolyi, Stephen A.; … - 2026

How does global banking impact financial stability and the real economy, particularly in emerging market economies? This paper revisits this question through the lens of new data and recent empirical findings in the banking literature. Considering this evidence, we illustrate how global banks...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643931

CBDC’s design implications for financial stability

Ponce, Jorge; Taroco, Santiago - 2026

This paper investigates the financial stability implications of introducing a central bank digital currency (CBDC) using an extension of the classical Diamond and Dybvig (1983) model. We analyze two key concerns associated with CBDCs: their potential to foster disintermediation of commercial...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643938

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CBDC's design implications for financial stability

Ponce, Jorge; Taroco, Santiago - 2025

Book / Working Paper

Paying a high premium : how climate change is crippling homeowner's insurance and fueling a housing crisis

Semenova, Alla - 2026

This paper examines the growing impacts of climate change in the US homeowner's insurance industry. As climate change-driven weather extremes and natural disasters have accelerated in their frequency and severity, they have inflicted increasingly more residential property damage and destruction,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644047

Household debt, the real economy, and financial stability : a literature review

Nyholm, Juho; Silvo, Aino - 2026

The Global Financial Crisis of 2007-2009 moved research on household debt and its aggregate implications to the forefront of macroeconomics. In this review, we offer a synthesis of this large body of both empirical and theoretical research, and an overview of the most important themes for future...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644270

The bank leverage response to tax shield changes

Ward, Felix; Vries, Casper G. de - 2026

Does the preferential tax treatment of debt over equity cause banks to increase their leverage? We construct a novel dataset tracing the evolution of the debt tax shield for banks in advanced economies from 1870 to 2020. Exploiting variation from nearly all changes in banking-sector tax shields...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644862

Economic stability and central banking in Nepal : achievements and future directions

Rajan Krishna Panta - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655752

Understanding systemic risks in the Canadian financial system

Bruneau, Gabriel; Clazie-Thomson, Sascha; Duprey, Thibaut; … - 2026 - Last updated: June 11, 2026

This paper reviews recent efforts to monitor and assess systemic risk in the Canadian financial system and outlines a framework for future system-wide stress testing. We examine how perceived and actual interconnections-across banks and non-bank financial institutions, domestic and foreign...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015661657

Reserve requirement ratio and capital flows : a regime-switching DSGE estimation for China

Hu, Ruopu - 2026 - This version: March 31, 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015647392

Climate change and financial stability : evidence from Southern Africa

Ntsaila, Mapaseka J.; Hloele, Moleboheng F. - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015652085

The fragility of perfectly safe digital money

Klee, Elizabeth; Lubis, Arazi; Ross, Chase P.; Ross, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653237

From nature shocks to financial stability : incorporating nature physical risks - in particular water-related risks - into banks' credit risk models and insurers' market risk models

Gallet, Sébastien; Prodani, Julja; Rang, Kitty - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015632814

Artificial intelligence and monetary policy : a framework and perspective on cyclical transmission, structural transition, and financial stability

Lenzu, Simone - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015617229

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Artificial intelligence and monetary policy : a framework and perspective on cyclical transmission, structural transition, and financial stability

Lenzu, Simone - 2026

Book / Working Paper

Growth-at-risk under climate change stress : empirical insights from Albania

Shijak, Gerti - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015637430

Interest rate risk and cross-sectional effects of micro-prudential regulation

Begenau, Juliane; Elenev, Vadim; Landvoigt, Tim - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015666285

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Interest Rate Risk and Cross-Sectional Effects of Micro-Prudential Regulation

Begenau, Juliane; Elenev, Vadim; Landvoigt, Tim - 2026

Book / Working Paper

Determinants of insurance distress recovery

Beyer, Marcel - 2026 - This version: June 2026

This paper investigates the determinants of distress recovery of insurance companies. I develop three complementary distress definitions capturing market-based signals. To address model uncertainty and heterogeneity across firms and states of the world, I apply a mixture-ofexperts framework to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015665547

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Determinants of insurance distress recovery

Beyer, Marcel - 2026

Book / Working Paper

From synchronicity to fragility : how corporate ESG performance reshapes systemic risk

Shao, Zhiquan; Yu, Bo - 2026

Building on a framework in which firms are interconnected through fire-sale spillover mechanisms, we argue that strong ESG performance acts as a protective buffer for firms with weak financial performance against stock price declines. This reduces the dispersion of asset returns, thereby...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015666470

Yet another estimate of the consequences of the bank levy for the credit market in Poland

Kapuściński, Mariusz - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015665302

Stock market return, market capitalization and financial stability in the Middle East and North Africa region : the moderating role of renewable energy

Ben M’Barek, Hassene - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015665436

The international exposure of the Canadian banking system

Friedrich, Christian; Friedrich, Hanno; Lawrence, Nick; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015209708

Federal Reserve communication and the COVID‐19 pandemic

Benchimol, Jonathan; Kazinnik, Sophia; Saadon, Yossi - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015440951

Technical development of countercyclical capital buffer implementation in Mongolia's banking sector

Oyungerel, Enkhbaatar; Erdenebileg, Urangoo - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015444435

Targeted but (not) toxic? : TLTRO and financial stability

Barmeier, Marcel - 2025

As TLTRO programs provide a direct incentive to increase lending, investigating the level of prudence applied by banks in making lending decisions is of high relevance. Relying on loan-level data, I evaluate the riskiness of lending by applying estimations in a difference-in-differences setting...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015333726

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