Only the combined use of fiscal, monetary, and macroprudential tools can break the credit contraction loop and avoid a deeper global...

Most tools remain micro-oriented, systemic threats are poorly measured, and regulatory gaps persist.

Systemic risk occurs when liquidity shortages or solvency failures in some financial institutions spread through the system, causing...

Bank bailouts are often necessary to maintain financial stability while primarily benefiting ordinary depositors rather than wealthy...

Credit and liquidity risks are the major drivers of financial crises. Financial crises are complex and destructive events that occur when...

The pandemic can only be overcome with fiscal expansion and macroprudential measures, a reality shared by major global economies. During...

In unequal economies, banks become vectors for toxic debt.

Nonbank financial institutions (or shadow banks ) play a growing role in credit markets by securitizing debt and supplying liquidity...

Liquidity risk is intrinsic to banking due to the maturity mismatch between short-term deposits and long-term loans.

Since the 1980s, declining labor income shares (from 65% to 56% of GDP in advanced economies) have forced households to rely on debt to maintain consumption.