We study robust/adversarial information design in global games, with an application to
stress testing. We show that the optimal policy coordinates all market participants on the …

We examine the impact of Federal Reserve stress tests from 2009 to 2016 on US bank
liquidity creation. Empirical results show that regulatory stress tests have a negative effect on …

We study robust/adversarial information design in global games, with an application to
stress testing. We show that the optimal policy coordinates all market participants on the …

In the wake of the financial crisis of 2007-2009, academics and policymakers have worked
to empirically quantify macro-financial linkages. This dissertation contributes to this debate …

Abstract Information disclosure has become a prominent tool in banking supervision since
the global financial crisis. Since their introduction, stress tests and asset quality reviews …

This paper examines how fair value accounting can create financial contagion among banks
and therefore increase bank regulators' costs of protecting insured depositors. Prior …