We provide a survey of 31 quantitative measures of systemic risk in the economics and
finance literature, chosen to span key themes and issues in systemic risk measurement and …

As the total value of the global financial market outgrew the value of the real economy,
financial institutions created a global web of interactions that embodies systemic risks …

This paper argues that the extent of financial contagion exhibits a form of phase transition:
as long as the magnitude of negative shocks affecting financial institutions are sufficiently …

Competition policy in the banking sector is complicated by the necessity of maintaining
financial stability. Greater competition may be good for (static) efficiency, but bad for financial …

This paper develops an analytical model of contagion in financial networks with arbitrary
structure. We explore how the probability and potential impact of contagion is influenced by …

We review the extensive literature on systemic risk and connect it to the current regulatory
debate. While we take stock of the achievements of this rapidly growing field, we identify a …

Systemic risk is modeled as the endogenously chosen correlation of returns on assets held
by banks. The limited liability of banks and the presence of a negative externality of one …

The recent financial crisis has prompted much new research on the interconnectedness of
the modern financial system and the extent to which it contributes to systemic fragility …

This paper develops a network model of interbank lending in which unsecured claims, repo
activity and shocks to the haircuts applied to collateral assume centre stage. We show how …

Financial systemic risk is an important issue in economics and financial systems. Trying to
detect and respond to systemic risk with growing amounts of data produced in financial …