Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Discussion Papers
Aug 2016
DP 61
For a discounted stochastic game with an uncountable state space and compact metric action spaces, we show that if the measurable-selection-valued, Nash payoff selection correspondence of the underlying one-shot game contains a sub-...
Discussion Papers
Aug 2016
DP 60
We identify a new class of uncountable-compact discounted stochastic games for which existence of stationary Markov equilibria can be established and we prove two new existence results for this class. Our approach to proving existence in...
Opinion Pieces
Jun 2016
Balázs Csullag, Jon Danielsson and Robert Macrae
Investor demand for bonds is very high. This column argues that this is surprising because under almost any likely inflation scenario, including central banks merely hitting their target inflation rates, bondholders suffer large losses. The...
Opinion Pieces
Jun 2016
Brexit creates new opportunities and new risks for the British and EU financial markets. Both could benefit, but a more likely outcome is a fall in the quality of financial regulations, more inefficiency, more protectionism, and more systemic risk.
Opinion Pieces
Jun 2016
The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that almost all cyber risk is microprudential. For a cyber attack to lead to a systemic crisis, it would need to be...
Opinion Pieces
Jun 2016
The IMF’s latest Global Financial Stability Report devotes for the first time a chapter to the systemic risks potentially associated with the insurance sector and how regulatory bodies should respond. This column examines the key points and...
Opinion Pieces
May 2016
Since the onset of the Global Crisis in 2007-08, stress testing has emerged as a major component of the supervisory toolkit. This column introduces a new CEPR Press eBook that presents the perspectives of policymakers, stress test designers and...
Books
May 2016
This CEPR Press eBook presents the perspectives of policymakers, stress test designers and academics on the remarkable development of stress testing, a tool which ten years ago was little known but has now emerged as a major component of the...
Opinion Pieces
Mar 2016
Jon Danielsson and Andreas Tsanakas
Macroprudential policy has become increasingly popular in the aftermath of the Global Crisis, but it remains controversial. This column argues that vigorous disagreement is both inevitable and healthy, reflecting differing fundamental views of how...
Discussion Papers
Mar 2016
DP 59
Do Disaster risk and Fortune risk fetch a premium or discount in the pricing of individual assets? Disaster risk and Fortune risk are measures for the co-movement of individual stocks with the market, given that the state of the world is extremely...

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