Results 11 to 20 of about 2,603,502 (346)
Review of Financial Studies, 2010 We present a simple model of systemic risk and we show that each financial institution's contribution to systemic risk can be measured as its systemic expected shortfall (SES), i.e., its propensity to be undercapitalized when the system as a whole is undercapitalized.
Viral V. Acharya +3 more
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Systemic Risk Contributions [PDF]
Finance and Economics Discussion Series, 2010 We adopt a systemic risk indicator measured by the price of insurance against systemic financial distress and assess individual banks' marginal contributions to the systemic risk. The methodology is applied using publicly available data to the 19 bank holding companies covered by the U.S.
Xin Huang, Hao Zhou, Haibin Zhu
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Perspectives on transformational change in climate risk management and adaptation
Environmental Research Letters, 2021 In the context of strong evidence on mounting climate-related risks and impacts across the globe, the need for ‘transformational change’ in climate risk management and adaptation responses has been brought forward as an important element to achieve the ...
Teresa Maria Deubelli, Reinhard Mechler
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Economic Modelling, 2023 Political risk impacts firm-level risk, influencing funding costs, cash holdings, and capital structure choices. Traditional approaches to political risk rely on aggregate indicators, like economic policy uncertainty proxies. In contrast, our study examines how political risk spreads among individual US firms and sectors using network analysis and ...
Chuliá, Helena +2 more
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Risk-Sharing and the Creation of Systemic Risk [PDF]
SSRN Electronic Journal, 2020 We address the paradox that financial innovations aimed at risk-sharing appear to have made the world riskier. Financial innovations facilitate hedging idiosyncratic risks among agents; however, aggregate risks can be hedged only with liquid assets. When risk-sharing is primitive, agents self-hedge and hold more liquid assets; this buffers aggregate ...
Acharya, Viral V. +2 more
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Determinants of construction sector profitability in Croatia [PDF]
Zbornik radova Ekonomskog fakulteta u Rijeci : časopis za ekonomsku teoriju i praksu, 2018 This paper examines the determinants of profitability for construction companies in Croatia. Sample includes more than 8678 construction companies covering the period from 2003 to 2014 what present 11 years of observation including Croatian milestone ...
Lorena Škuflić +2 more
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Monitoring Vulnerabilities in the Residential Real Estate Sector in Poland
Gospodarka Narodowa. The Polish Journal of Economics, 2020 This paper applies a framework for monitoring vulnerabilities in the residential real estate sector to the case of Poland. The framework considers indicators across three dimensions of real estate-related vulnerabilities, i.e.
Magdalena Grothe
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On the Origin of Systemic Risk
SSRN Electronic Journal, 2020 Systemic risk in the banking sector is usually associated with long periods of economic downturns and very large social costs. On one hand, shocks coming from correlated exposures towards the real economy may induce correlation in banks’ default probabilities thereby increasing the likelihood for systemic-tail events like the 2008 Great Financial ...
Montagna, Mattia +2 more
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Frontiers in Climate, 2022 Physical tipping points have gained a lot of attention in global and climate change research to understand the conditions for system transitions when it comes to the atmosphere and the biosphere.
Sirkku Juhola +5 more
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EU banks after the crisis: sinners in the hands of angry markets
Journal of Banking and Financial Economics, 2018 European Union banks were severely hit by the global fi nancial crisis in 2008 and their stock prices and returns have generally not recovered since then, differently to what has been observed in other sectors (i.e., non-fi nancial corporations) and ...
Antonio Sánchez Serrano
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