April 18, 2017
On The Financial Market Consequences Of Brexit
Abstract Brexit creates new opportunities and new risks for the British and EU financial markets. Both could benefit, but a more likely outcome is a…
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April 18, 2017
A Proposed Research And Policy Agenda For Systemic Risk
Abstract The long-running Greek crisis and China’s recent stock market crash are the latest threats to the stability of the global financial system. But as…
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April 18, 2017
Are Asset Managers Systemically Important?
Abstract Some financial authorities have proposed designating asset managers as systemically important financial institutions (SIFIs). This column argues that this would be premature and probably…
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April 18, 2017
Europe’s Proposed Capital Markets Union: Disruption Will Drive Investment And Innovation
Abstract The proposed EU capital markets union aims to revitalise Europe’s economy by creating efficient funding channels between providers of loanable funds and firms best…
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April 18, 2017
Systems And Systemic Risk In Finance And Economics
Abstract This paper examines the concept of systemic risk and provides an intuitive account of the economic thought on systems and the development of the…
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April 18, 2017
Walrasian Foundations For Equilibria In Segmented Markets
Abstract We show that the equilibrium of the arbitraged economy is asymptotically Walrasian in the sense that it converges to the equilibrium of an appropriately…
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April 18, 2017
Foresight: The Future Of Computer Trading In Financial Markets (2012) Final Project Report
Abstract SRC researchers were involved in a study that explores how computer generated trading in financial markets will evolve over the next 10 years. The…
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April 18, 2017
Everybody Right, Everybody Wrong: Plural Rationalities In Macroprudential Regulation
Abstract Macroprudential policy has become increasingly popular in the aftermath of the Global Crisis, but it remains controversial. This column argues that vigorous disagreement is…
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April 18, 2017
Why It Doesn’t Make Sense To Hold Bonds
Abstract Investor demand for bonds is very high. This column argues that this is surprising because under almost any likely inflation scenario, including central banks…
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April 18, 2017
Cyber Risk As Systemic Risk
Abstract The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that…
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