Stock Market - Nicholas Cappell from Unsplash

This programme examines the internal workings and stability of the financial system. Is the financial system sufficiently stable or is it excessively prone to crises and systemic risk? What are desirable regulatory policies, and which policies can be counterproductive? Part of the research in this programme is conducted within the ESRC-funded Systemic Risk Centre (SRC). Research at the SRC studies financial, economic, legal and political structures, incentives, interdependencies, vulnerabilities and shocks which may trigger or amplify the next financial crisis, and seeks to develop tools to help policymakers and financial institutions become better prepared and increase resilience and effectiveness. 

Systemic Risk Centre

Latest Publications

On the Fragility of DeFi Lending

We develop a dynamic model of DeFi lending that incorporates the following key features: 1) borrowing and lending are decentralized, anonymous...

DP 883