a large amount of bank loans to local governments through the local government financing vehicles (LGFVs). This allows … us to construct a new and better financial development index which measures the level of loans extended by banks to … form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing …

by banks, and stockmarket capitalization have similar effects in terms of magnitude. …

about the pass-through of monetary policy. On the one hand, negative rates could lead to declining bank profitability making … interest rates per se. This paper uses a large micro level data set of the German bank universe to examine how banks behave in … this uncharted territory. The evidence found suggests that bank’s business model, i.e. the share of overnight deposits …

bias in corporate taxation. It is well known that this reform reduces bank leverage. This paper analyzes a novel …, complementary channel: risk taking. We model banks’ portfolio choice under moral hazard and emphasize the ‘incentive function’ of …