Too-connected-to-fail Institutions and Payments System?s Stability: Assessing Challenges for Financial Authorities

Borradores de Economia
Number: 
644
Published: 
Classification JEL: 
E58, E44, C63, G21, D85
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

The most recent

The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fai