The Homogenization of the Financial System and Financial Crises

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Banking risk and regulation: Does one size fit all? (2012, unknown): “Wagner (2008) finds that an increase in the homogeneity of banks’ balance sheets decreases the financial soundness due to the joint exposure to liquidity problems in other banks at the interbank market caused by, for example, fire sales.”
The Impact of Off-Balance-Sheet Activities on Banks Returns: An Application of the ARCH-M to Canadian Data (2010, background): “This risk-return worsening is also partly 3 See also Wagner 2006, Wagner 2009, Coval 2009a, and Coval 2009b. Note, however, that these authors do not necessarily refer to the correlation of the share of noninterest income with aggregate shocks (both macroeconomic and financial) but rather to bank…”
CEO pay incentives and risk-taking: Evidence from bank acquisitions (2011, unknown): “For instance, Wagner (2008) suggests that”