This programme examines the internal workings and stability of the financial system. Is the financial system sufficiently stable or is it excessively prone to crises and systemic risk? What are desirable regulatory policies, and which policies can be counterproductive? Part of the research in this programme is conducted within the ESRC-funded Systemic Risk Centre (SRC). Research at the SRC studies financial, economic, legal and political structures, incentives, interdependencies, vulnerabilities and shocks which may trigger or amplify the next financial crisis, and seeks to develop tools to help policymakers and financial institutions become better prepared and increase resilience and effectiveness.
The Programme Directors are Martin Oehmke and Jean-Pierre Zigrand.
Systemic Risk Centre
Latest Publications
Phase transitions in debt recycling
Debt recycling is an aggressive equity extraction strategy that potentially permits faster repayment of a mortgage. While equity progressively builds...
Credibility, trust, and perception of authorities’ performance
The credibility of an institution is, almost, synonymous with how well it is trusted. This column uses survey data to examine how trust in various...
Latent fragility: Conditioning banks' joint probability of default on the financial cycle
Journal of International Money and Finance, 146, 103107
