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share the burden of the default with peso depositors. The incentive to dollarize is reinforced by common banking system …
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A recent influential paper (O'Connell 1998) argues that panel data evidence in favor of purchasing power parity disappears once test procedures are altered to accommodate heterogeneous cross-sectional dependence among real exchange rate innovations. We present evidence to the contrary. First, we...
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Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.
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area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with … area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with … returns for bank advisors when they advise their own loan customers in acquiring other firms. -- Relationship banking …
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-taking incentive prevailed during 1986-92, a period characterized by serious banking problems and financial turmoil. We find that …
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