We measure the impact of bank capital requirements on corporate borrowing and business activity. We use loan-level data … firms, under Basel 2, it depends in a predictable way on both the bank's model and the firm's risk. We exploit this two …-way variation to empirically estimate the semi-elasticity of bank lending to capital requirement. This rich identification allows us …

information-sharing between the central bank and the macro-prudential authority. Indeed, as shown in our model-based simulation …, the better informed the central bank about macro-prudential policy, the more likely it is to be able to preserve price …

We exploit a unique monthly dataset of bank balance sheets to document the lending behaviour of euro area banks that … against exposure to sovereign debt. Controlling for bank characteristics and demand at the level of country of residence, we …

leverage of the financial system, and prompted proposals by bank supervisors to significantly tighten bank capital requirements … new approach based on a data-rich environment at both the micro (bank) level and the macro level, using a combination of … bank panel regressions and macroeconomic factor models. We first identify bank leverage shocks at the micro level and …

importance of some non-dealer/non-bank participants belonging to the shadow banking system. …

This paper examines the art of central banking as practised by the European Central Bank (ECB) through the prism of … Goodfriend's (2009) determination of the three policies that fall within the remit of a central bank: monetary policy, which … interbank money market. This paper shows in particular that a central bank not only has the capacity but indeed must strive to …