European economies have been plagued by successive crises, from the Global Financial Crisis (GFC) to the COVID-19 pandemic, through to the economic and geopolit

Contributions from Viral Acharya, Joshua Aizenman, Franklin Allen, Thorsten Beck, Erik Bergl f, Claudia Buch, Elena Carletti, Ralph de Haas, Luis Garicano, Andr

The next few years will be critical for Europe's banking industry. It faces a number of financial sector reforms that will have a decisive impact on the dominan

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? Wh

A framework for macroprudential regulation that defines systemic risk and macroprudential policy, describes macroprudential tools, and surveys the effectiveness