Narrow search
Showing 1 - 10 of 4,456
Cover Image
Policy Packages and Policy Space : Lessons from COVID-19
Bergant, Katharina; Forbes, Kristin - National Bureau of Economic Research - 2023
This paper uses the onset of COVID-19 to examine how countries construct their policy packages in response to a severe negative shock. We use several new datasets to track the use of a large variety of policy tools: announced fiscal stimulus (both above- and below-the-line), monetary policy...
Persistent link: https://www.econbiz.de/10014287372
Cover Image
Ethical Foundations of Financial Regulation
Kane, Edward J. - 1997
Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness and efficiency across society as a whole....
Persistent link: https://www.econbiz.de/10012472798
Cover Image
Durable Financial Regulation : Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
Nakamura, Leonard - 2011
This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically describes a potentially large macro-micro database for the U.S. based on an extended version of the Flow of Funds. I argue that such a database would have been of...
Persistent link: https://www.econbiz.de/10012461652
Cover Image
Assessing the Emerging Global Financial Architecture : Measuring the Trilemma's Configurations over Time
Aizenman, Joshua - 2008
stability, all reflecting the introduction of the euro. In contrast, emerging market countries pursued exchange rate stability … monetary independence can dampen output volatility while greater exchange rate stability implies greater output volatility … inflation while greater exchange rate stability and greater financial openness could lower the inflation level; (iii) a policy …
Persistent link: https://www.econbiz.de/10012464115
Cover Image
Financial Repression and Capital Mobility : Why Capital Flows and Covered Interest Rate Differentials Fail to Measure Capital Market Integration
Dooley, Michael P. - 1995
Required reserves on banks' deposit liabilities have been utilized by both industrial and developing countries to discourage and sterilize international capital flows. In this paper we utilize an open economy macro model incorporating bank credit to evaluate this policy. The model suggests that...
Persistent link: https://www.econbiz.de/10012473522
Cover Image
U.S. Banks and Global Liquidity
Correa, Ricardo - 2020
We characterize how U.S. global systemically important banks (GSIBs) supply short-term dollar liquidity in repo and foreign exchange swap markets in the post-Global Financial Crisis regulatory environment and serve as the "lenders-of-second-to-last-resort". Using daily supervisory bank balance...
Persistent link: https://www.econbiz.de/10012481346
Cover Image
The Spillovers, Interactions, and (Un)Intended Consequences of Monetary and Regulatory Policies
Forbes, Kristin - 2016
Have bank regulatory policies and unconventional monetary policies--and any possible interactions--been a factor behind the recent "deglobalisation" in cross-border bank lending? To test this hypothesis, we use bank-level data from the UK--a country at the heart of the global financial system....
Persistent link: https://www.econbiz.de/10012456368
Cover Image
Financial Regulation in General Equilibrium
Goodhart, Charles A.E. - 2012
This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a "shadow banking system" that each help...
Persistent link: https://www.econbiz.de/10012460749
Cover Image
Big bad banks? : the impact of u.s. branch deregulation on income distribution
Beck, Thorsten - 2007
"Policymakers and economists disagree about the impact of bank regulations on the distribution of income. Exploiting cross-state and cross-time variation, we test whether liberalizing restrictions on intra-state branching in the United States intensified, ameliorated, or had no effect on income...
Persistent link: https://www.econbiz.de/10010521579
Cover Image
Let the Worst One Fail : A Credible Solution to the Too-Big-To-Fail Conundrum
Philippon, Thomas; Wang, Olivier - National Bureau of Economic Research - 2021
We study time-consistent bank resolution mechanisms. When interventions are ex post efficient, a government cannot commit not to inject capital into the banking system. Contrary to common wisdom, we show that the government may still avoid moral hazard and implement the first best allocation by...
Persistent link: https://www.econbiz.de/10012794588