. In particular, high Northern interest rates are strongly associated with the onset of banking crises in developing …We analyse banking crises using a panel of macroeconomic and financial data for more than 100 developing countries from … 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions …

Regressions of ex-post changes in floating exchange rates on appropriate interest differentials typically imply that … the high interest rate currency tends to appreciate - the `forward discount puzzle'. Using data from the European Monetary …, deviations from uncovered interest parity appear to vary in a way that is dependent upon the exchange rate regime. By using the …

implications in rural Pakistan taking into account the heterogeneity of households' preferences. Our results show that exogenous …

public finances and banking systems heavily exposed to southern Europe and Ireland benefited, as evidenced by lower sovereign …

Europe is not only driven by borrowers who try to benefit from lower interest rates but also by banks hesitant to lend long …

experiment – the change in the English usury laws in 1714 – to analyse the effects of interest rate restrictions. Based on a … sample of individual loan transactions, we demonstrate how the reduction of the legal maximum rate of interest affected the …

imperfectly, we find evidence of these informational improvements. Mergers lead to a closer correspondence between interest rates … and individual default risk: after a merger, risky borrowers experience an increase in the interest rate, while non …-risky borrowers enjoy lower interest rates. These informational benefits appear to derive from improvements in information processing …