<> "The repository administrator has not yet configured an RDF license."^^ . <> . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes"^^ . "In addition to constraining bilateral exposures of financial institutions, there exist essentially two options for future financial regulation of systemic risk: First, regulation could attempt to reduce the financial fragility of global or domestic systemically important financial institutions (G-SIBs or D-SIBs), as for instance proposed by Basel III. Second, it could focus on strengthening the financial system as a whole by reducing the probability of large-scale cascading events. This can be achieved by re-shaping the topology of financial networks. We use an agent-based model of a financial system and the real economy to study and compare the consequences of these two options. By conducting three computer experiments with the agent-based model we find that re-shaping financial networks is more effective and efficient than reducing financial fragility. Capital surcharges for G-SIBs could reduce systemic risk, but they would have to be substantially larger than those specified in the current Basel III proposal in order to have a measurable impact. This would cause a loss of efficiency."^^ . "2017-04" . . . "77" . . "Elsevier"^^ . . . "Journal of Economic Dynamics and Control"^^ . . . "18791743" . . . . . . . . . . . . . "S."^^ . "Thurner"^^ . "S. Thurner"^^ . . "S."^^ . "Poledna"^^ . "S. Poledna"^^ . . "O."^^ . "Bochmann"^^ . "O. Bochmann"^^ . . . . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Text)"^^ . . . . "Basel III capital surcharges .pdf"^^ . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Other)"^^ . . . . . . "lightbox.jpg"^^ . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Other)"^^ . . . . . . "preview.jpg"^^ . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Other)"^^ . . . . . . "medium.jpg"^^ . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Other)"^^ . . . . . . "small.jpg"^^ . . . "Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes (Other)"^^ . . . . . . "indexcodes.txt"^^ . . "HTML Summary of #14429 \n\nBasel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes\n\n" . "text/html" . .