Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of … document the limits of the shadow bank substitution margin: shadow banks substitute for traditional--deposit-taking--banks in … quantitative consequences of several policies on lending volume and pricing, bank stability, and the distribution of consumer …

and central bank conservatism on economic performance. Several striking conclusions emerge. In relatively centralized … of central bank conservatism. A radical-populist central banker who cares not at all about inflation (alternatively, who …

The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and … political history: creating a supranational central bank and leaving eleven countries without national currencies of their own …

from the central bank's role as a monopolist over the supply of bank reserves. Several trends already visible in the … efficacy of monetary policy. These developments include the erosion of the demand for bank-issued money, the proliferation of … nonbank credit, and aspects of the operation of bank clearing mechanisms. What to make of these threats from a public policy …

Central bank credibility plays a pivotal role in much of the modern literature on monetary policy, yet it is difficult … particularly united in their evaluations of ways to make a central bank credible -- assigning high ratings to the central bank …

effects of the monetary policies of the US Federal Reserve, the European Central Bank and of the People's Bank of China on the …