This article suggests that current forms of crypto currencies will fail to complement or replace
fiat money. We show that fixed-supply coins like bitcoin suffer from an inherently speculative …

This paper provides evidence on the impact of European Banking Union (BU) and the
associated Single Supervisory Mechanism (SSM) on the risk disclosure practices of …

Liquidity shocks transmitted through interbank connections contributed to bank distress
during the Great Depression. New data on interbank connections reveal that banks were …

The ramifications of the Global Financial Crisis, which erupted in 2007, continue to surprise
not only the general public but also finance professionals, economists, and journalists …

Central banks provide public liquidity to traditional (regulated) banks with the intention of
stabilizing the financial system. Shadow banks are not regulated, yet they indirectly access …

How do banks respond to asset booms? This paper examines (i) how US banks responded
to the World War I farmland boom;(ii) the impact of regulation; and (iii) how bank closures …

We exploit a fixed rule constraining central bank credit provision in a regression
discontinuity framework to analyse counterparties' behavioural responses to the (non-) …

Financial network structure is an important determinant of systemic risk. This article
examines how the US interbank network evolved over a long and important period that …

The interbank financial networks literature has been gaining ground since the 2007–2008
global financial crisis. This paper contributes to the literature of interbank financial networks …

We assess systemic risk in the US banking system before and after the Panic of 1873, using
a combination of linear programming and computational optimization to estimate the …