view that monetary policy easing induces greater risk-taking by banks but also shows that the relationship between real … interest rates and banking risk is more complex. Ultimately, it depends on how much skin in the game banks have. The central …

’s survey of terms of business lending. We find that ex-ante risk taking by banks (as measured by the risk rating of the bank …We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data …

sector to the rest of the economy are limited. The high level of bank excess reserves in Paraguay reflects a mixture of … precautionary and involuntary factors. Large bank excess reserves weaken the monetary transmission channel, and cause inefficiency … costs. Bank reforms should be undertaken to preserve financial and macroeconomic stability. …

This Selected Issues paper focuses on financing constraints and productivity in Estonia. The paper examines two …-level total factor productivity (TFP)? These questions are particularly important in the current environment, in which credit …

This Selected Issues paper explores the question of what kind of structural policies could boost productivity growth in … trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the quality of their …

This paper describes determinants of Japan’s productivity growth, reform outputs, and speculation on future potential … Bank of Japan’s understanding of price stability and monetary policy; examines the impact of Japan’s inflation and …

framework for analyzing government measures aimed at reducing systemic risk. The analysis suggests that Chilean banks are …, there may be risk spillovers from other banks in the region and in advanced economies. The paper also presents options for …