Housing

• Recommendations from the disability royal commission and the NDIS review were released late last year.
• In this series, experts examine what new proposals could mean for people with disability.
• Recent media coverage about the National Disability Insurance Scheme (NDIS) frames the choices of people with disability as threats to their safety or the safety of others.

Choosing services and who provides them

• Research indicates people with disability are more likely to be safe and free from abuse when they have choice over what services they receive and who provides them.
• Previous research by one of us (Sophie) also found some people feel safe as a result of having more choice.
• They may be dependent upon one provider for essential services.
• Read more:
  Unregistered NDIS providers are in the firing line – but lots of participants have good reasons for using them

There is more than one way to support safety

• It did make other quality and safety recommendations that have not received the same degree of attention as the controversial recommendation on mandatory provider registration.
• There are also recommendations to help all people with disability to navigate NDIS, foundational and other services and increase decision-making support.
• The recommendations to diversify housing and living supports are critical for expanding both choice and safety.

What about worker safety?

• These workers experience different pay and working conditions depending on the provider they work for and industrial award they are employed under.
• NDIS participants can use online platforms to employ sole-trader support workers rather than going through agencies.
• That said, workers employed by disability service organisations also report low levels of confidence in organisational safety and reporting systems.

What could support safety for everyone?

Rather than assuming choice and safety are in opposition to each other and further restricting choice, our research suggests the following priorities:

• Safety is about being connected and embedded within the community, where many people are looking out for you, checking in on you and noticing if you don’t show up to your usual activities.
• Ultimately, a scheme where people with disability are empowered to make meaningful decisions between quality services, and workers are valued and supported in their roles, will promote safety for everyone.
• Read more:
  States agreed to share foundational support costs.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

• The ECB Consumer Expectations Survey shows that housing cost dynamics vary across households depending on the type of ownership, with the highest cost increases being borne by those who do not own their home outright (mortgage and renter households).
• Since 2022 rising housing costs have, on average, largely been offset by growth in household income, leading to stable housing cost to household income ratios.

• Abstract
  We evaluate the effects of contagion and common exposure on banks? capital through
  a regression design inspired by the structural VAR literature and derived from the balance
  sheet identity.
• Contagion can occur through direct exposures, fire sales, and market-based
  sentiment, while common exposures result from portfolio overlaps.
• First, we document that contagion varies in time, with the highest levels
  around the Great Financial Crisis and lowest levels during the pandemic.
• Our new framework complements
  traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
• While existing literature presents various contagion narratives, empirical findings on
  distress propagation - a precursor to defaults - remain scarce.
• We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
• The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
  aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
• Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
• In conclusion, our model offers a comprehensive lens for policy intervention analysis and
  scenario evaluations on contagion and systemic risk in banking.
• This
  notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
  to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
  more widespread throughout the financial system) (see Caruana, 2010).
• In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
• First, we include contagion in three forms: sentiment-based contagion, contractual-based
  contagion, and price-mediated contagion.
• In this context,
  portfolio overlaps create common exposures, implying that bigger overlaps make systematic
  shocks more systemic.
• With the COVID-19 pandemic starting
  in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
  supports.
• That is, our
  structural model provides a framework for analyzing the impact of policy interventions and
  scenarios on different levels of contagion and systemic risk in the banking system.
• This provides a complementary approach to
  seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
• More generally, the literature on networks and systemic risk started with Allen and Gale
  (2001) and Eisenberg and Noe (2001).
• The matrix is structured as follows:
  1

  In our model, we do not distinguish between interbank liabilities and other types of liabilities.

• In other words, we can and aim to estimate different degrees
  of contagion per asset class, i.e., potentially distinct parameters ?Ga .
• For that, we build three major
  metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
• N i j

  et ,
  Further, we define the (N ?K) common exposure matrix as Commt = [A

  (20)

  et ]diag (?C
  ?L

  such that average common exposure reads,
  average common exposure =

  1 XX
  Commik,t .

• N i j

  (22)

  20

  ? c ),

  The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.

• Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
• Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
  (Equation (22)).
• The market-based contagion is the contagion due to
  investors? sentiment, and the network is an estimate FEVD on volatility data.
• For most of
  the sample, we find that contagion had a bigger impact on the variance than common exposures.

• Starring Bill Nighy as coach Mal, it follows the England team as they prepare for the Homelessness World Cup in Rome.
• The Homelessness World Cup is a real football tournament and the film was made by the foundation responsible for the annual games.
• We did so by focusing on how the Homeless World Cup and Street Soccer (Scotland) have affected the lives of some people.
• Football can contribute to non-football outcomes, such as reducing homelessness and building other skills such as team work and communication.