Systemic Risk Centre

This policy note summarizes the main empirical findings on the role of debt in financial crisis. Credit booms – on mortgage debt, debt to the non...

We study the evolution of pay in US bank holding companies since 1986. We first set out the main empirical characteristics in both cross-section and...

We show that all discounted stochastic games DSGs satisfying the usual assumptions have Nash payoff selection correspondences having fixed points. Our...

We develop a model in which long-term swap spreads are determined by end users’ demand for swaps, constrained dealers’ supply of swaps, and the risk...