We analyze the effect of bank capital requirements on the structure and risk of a financial system where markets …

Pigouvian tax on shadow bank profits …

Macroprudential policies are often aimed at the commercial banking sector, while a host of other non-bank financial … institutions, or shadow banks, may not fall under their jurisdiction. We study the effects of tightening commercial bank regulation … requirements on commercial banks increase shadow bank lending, which may have adverse financial stability effects. Coordinating …

Europe's financial structure has become strongly bank-based – far more so than in other economies. We document that an … paper concludes by discussing policy solutions to Europe's “bank bias”, which include reducing regulatory favouritism …