Central banks’ economic and political importance has grown in advanced economies since the start of the Great Financial … the only stabilization tool in town. However, much of the enhanced significance of central banks is due to their lender … and sovereigns. Supervisory and regulatory functions – often deeply political, have been heaped on central banks. Central …

supervise more banks. Both banks' risk profiles and their access to wholesale funding are endogenous, leading to rich …

default probabilities for both firms and banks, and allow for bank regulation and liquidity injection into the interbank …

We propose a theory of supervision with endogenous transaction costs. A principle delegates part of his authority to a …

Parliament) and aristocratic titles (e.g., lords)--on the boards of directors of English and Welsh banks from 1879-1909 to … corroborates this finding, showing that a bank’s shares exhibited negative abnormal returns when their directors were elected to …

and banks. Finally, we find spillover effects in particular from sovereigns in the euro area periphery to the core …