Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization …

We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where … caused by regulatory arbitrage on the capacity of regulators to use several regulatory instruments …

regulation, and not by price differences in line with the hypothesis of ‘regulatory arbitrage' … medicines conflicts with traditional sources of arbitrage (e.g., price and income differences) and instead is a form of … ‘regulatory arbitrage' that does not produce equivalent welfare effects. We draw upon a unique dataset that contains records of …

substantially, reflecting a change in the nature of the financial intermediation process. Together with increased securitization of … portfolio of assets, have also become more relevant. As a result, the volume of securitization, although traditionally … associated with credit markets, influences the outcomes of other asset markets. We investigate the link between securitization …

We develop a simple model of banking regulation with two policy instruments: minimum capital requirements and … regulation. Therefore, countries are better off by harmonising regulation on an international standard …