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
Of AI bubbles and crashes
Warnings of an AI stock market bubble abound. Should investors and policymakers be concerned? This column argues that innovation-driven bubbles can...
Talk and the City: How Far to Trust Bankers (Not) Calling for Bailouts?
To evaluate a bank’s resilience to financial stress, authorities often rely on private information from a peer institution, or counterparty. This...
Artificial intelligence and financial crises
The rapid adoption of artificial intelligence (AI) poses new and poorly understood threats to financial stability. We use a game-theoretic model to...
