Financial Intermediation, Systemic Risk and Financial Cycles Summer School


Summer School

Aims

To understand

  • why are banks and financial institutions regulated,
  • why has the focus shifted to systemic risk,
  • what is the financial cycle and how does it interact with the business cycle?

Information

“Why are banks and financial institutions regulated? Why has the focus shifted to systemic risk? What is the financial cycle and how does it interact with the business cycle? This course discusses the main issues highlighted in the theoretical literature, reviews whether these are empirical relevant and draws the link to policy actions.

The course starts from bank specific frictions and micro-prudential regulation. We will then broaden the focus to systemic risk as the robustness of individual institutions does not guarantee the robustness of the financial system. The second part will discuss the financial cycle, explore how it differs from the business cycle and how it impacts on the real economy. The last section studies the effects of macroprudential regulation and monetary policy on financial stability.

Throughout, the course will highlight “hot” policy topics and how they link to the literature, such as issues in Basel III, how to operationalise macroprudential policies and whether low interest rates create financial stability risks.

Assessment

Preparation and active participation in the discussion

Materials

Reading list will be available online

Additional info

For the timetable of this course, please click here.

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ERIM participants can register through SIN Online Registrations.

External (non-ERIM) participants are welcome to this course. To register, please fill in the registration form and e-mail it to summerschool@erim.eur.nl by 4 weeks prior to the start of the course. Please note that the number of places for this course is limited.

This course is free of charge for ERIM members (faculty members, PhD candidates and Research Master students). For external participants, the course fee is 250 euro per ECTS credit.