The textbook view of the monetary transmissionmechanism rests on the central bank’s ability tomanipulate the overnight … overnight rate reverberateinto longer maturity rates. However, while few dispute the factthat the central bank controls the …

It is my pleasure to join President McDonough and our colleaguesfrom the Bank of Japan and the Bank of England ….Moreover, this conference comes at a most critical andopportune time. As you are aware, the current structure ofregulatory bank …

A large literature studies bank regulatory policies intendedto control moral hazard problems associated with … depositinsurance and optimal regulatory design. Much of theanalysis has focused on uniform bank capital requirements,risk-based capital ….All formal analyses employ highly simplifiedtreatments of an individual bank or banking system. Thisstudy is concerned with the …