{"title":"Abbreviations and Acronyms","authors":"","doi":"10.2307/j.ctvqmp0vn.3","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.3","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128729953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Activities Are Not Enough!","authors":"Jeremy C. Kress, P. McCoy, D. Schwarcz","doi":"10.2307/j.ctvqmp0vn.14","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.14","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121705431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Clearing Houses and Systemic Risk","authors":"Paolo Saguato, G. Ferrarini","doi":"10.2307/j.ctvqmp0vn.10","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.10","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133772461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Toward a Better Bail-in Tool:","authors":"Tobias H.Tröger","doi":"10.2307/j.ctvqmp0vn.15","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.15","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"77 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114547751","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Back Matter","authors":"","doi":"10.2307/j.ctvqmp0vn.21","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.21","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129050548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bank Resolution a Decade after the Global Financial Crisis:","authors":"Aimilios Avgouleas, C. Goodhart","doi":"10.2307/j.ctvqmp0vn.6","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.6","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132098394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Leverage Caused the 2007-2009 Crisis","authors":"J. Geanakoplos","doi":"10.2307/j.ctvqmp0vn.18","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.18","url":null,"abstract":"There are two standard explanations of the cause of the 2007-09 crisis. The first is greed, greed that overtook the banks, then the mortgage brokers, then the rating agencies, then the bondholders, and then the borrowers. One can see these forces at work in the movie The Big Short. A second explanation is that a panic exploded in 2008 and 2009, causing a run on banks, on money markets, and on collateral. According to the second theory, the only way to stem the panic was to restore confidence, as former Fed chairman Ben Bernanke explained in his book The Courage to Act, and as Treasury Secretary Timothy Geithner argued in his book Stress Test. Greed and panic cannot be legislated away, or prevented by macroprudential policy. At the World Econometric Sociey Congress of 2000, long before the crisis of 200709, I proposed another theory of booms and crashes: the leverage cycle, caused by a build-up of too much leverage and then a faster de-leveraging.1 Rising leverage leads to rising asset prices, making the economy progressively more vulnerable, so that eventually a little bit of \"scary bad news’can trigger a great crash. If the asset prices end up far enough below the debts, then a failure to partially forgive underwater debtors can create more losses.2 Between 2000 and the 20007-09 crisis, leverage did indeed rise in the banks and in households, and so did housing and mortgage backed securities prices. Then leverage and asset prices collapsed. Eventually leverage and asset prices recovered. The failure to forgive a nonnegligible amount of mortgage debt did delay the recovery, and stirred resentment that lingers today. Unlike greed and panics, the leverage cycle crash can be prevented by wise public policy. The conventional view in macroeconomics had long been that cycles are caused by fluctuations in aggregate demand. These can be smoothed over by raising the interest rate when demand is too high, and lowering the interest rate when demand is too low. The trouble with this interest rate centric view of macroeconomics is","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130420112","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Tackling Systemic Risk for Banks and Countries:","authors":"Ron J. Feldman, P. Hiebert","doi":"10.2307/j.ctvqmp0vn.11","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.11","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"27 8","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132546821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Three Major Financial Crises:","authors":"Ross P. Buckley, E. Avgouleas, D. Arner","doi":"10.2307/j.ctvqmp0vn.7","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.7","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121922191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Bank Leverage, Welfare and Regulation","authors":"Anat R. Admati, M. Hellwig","doi":"10.2307/j.ctvqmp0vn.17","DOIUrl":"https://doi.org/10.2307/j.ctvqmp0vn.17","url":null,"abstract":"","PeriodicalId":277046,"journal":{"name":"Systemic Risk in the Financial Sector","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123327205","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}