1. Discussion and Working Paper // 2016

    Syndication, Interconnectedness, and Systemic Risk

    Syndication increases the overlap of bank loan portfolios and makes them more vulnerable to contagious effects. We develop a novel measure of bank interconnectedness using syndicated corporate loans.…

  2. Discussion and Working Paper // 2016

    Government Guarantees and Bank Risk Taking Incentives

    This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of guarantees for German Landesbanken which results in lower credit ratings, higher funding…