address the following questions. How are macroeconomic shocks transmitted to bank risk and other banking variables? What are … the sources of bank heterogeneity, and what explains differences in individual banks' responses to macroeconomic shocks …? Our paper has two main findings: (i) Average bank risk declines, and average bank lending increases following expansionary …

The European Central Bank (ECB) took many measures to combat the eurozone's rolling financial crisis. For providing …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure … clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the …

be associated with greater resort to informal financial services compared with formal, bank-based access. This highlights …