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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Too Big to Fail and Systemic Risk |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Date | 2011 |
| Abstract Text | This thesis discusses the problem of too big to fail in the context of the recent financial crisis. Building upon research from Billio et al.(2010), it contributes to the growing literature on systemic risk by proposing a risk contribution measure. Moreover, a comparison between Bear Stearnsâ and Lehman Brothersâ relative systemic importance is undertaken. Empirical results provide some evidence on the validity of the indicator in respect to the identification of systemically important institutions. Still, some limitations concerning measure precision and robustness emerge. Moreover, no clear conclusion can be drawn on the relative importance of the aforementioned investmentbanks. |
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