between cash and bank credit lines. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms … shorten. Also consistent with the mechanism in the model, we find that exposure to undrawn credit lines increases bank …

We analyze the transmission of bank-specific liquidity shocks triggered by a credit rating downgrade through the … lending channel. Using bank-level data for US Bank Holding Companies, we find that a credit rating downgrade is associated …

the endogeneity of analyst behaviour and the bank’s decision to provide analyst coverage. Contrary to recent allegations …, we find no evidence that aggressive analyst recommendations or recommendation upgrades increased a bank’s probability of …

bank strategies in terms of the quality of service they choose to offer, in terms of the number and locations of their …

liability of banks and the presence of a negative externality of one bank’s failure on the health of other banks give rise to a … risk. Regulatory mechanisms such as bank closure policy and capital adequacy requirements that are commonly based only on a … bank’s own risk fail to mitigate aggregate risk-shifting incentives, and can, in fact, accentuate systemic risk. Prudential …

The merit of having international convergence of bank capital requirements in the presence of divergent closure … policies of different central banks is examined. While the privately optimal level of bank capital decreases with regulatory … forbearance (they are strategic substitutes), the socially optimal level of bank capital increases with regulatory forbearance …

We study the determination of Irish inflation between 1926 and 2012. The difference between unemployment and the NAIRU … is a significant determinant of inflation in a simple backward-looking Phillips Curve that incorporates import prices …

regimes that are nested within this framework: inflation, output-gap growth and nominal income growth targeting; and inflation …