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Title
Author(s)
Year
2014
This paper develops a framework for measuring, allocating and managing systemic risk. SystRisk, our measure of total systemic risk, captures the a priori cost to society for providing tail-risk insurance to the financial system. Our allocation principle ...
Alan Blinder
2014
The worst financial crisis since the 1930s changed academic, financial, regulatory, and political thinking in many ways. One is the realization that we allowed (or maybe even enabled) financial market participants to construct a system that was amazingly ...