In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan …

expectations, challenge the Bank of Japan's efforts to reflate the economy. This paper uses a semi-structural model to estimate the …Japan's aging and shrinking population could lower the natural rate of interest and, together with low inflation … impact of demographics on the natural rate in Japan. We find that demographic change has a significantly negative impact on …

-run growth. The paper explores an additional challenge, for monetary policy. Although they expand bank balance sheets, providing …

We examine trends in bank competition since the early 2000s. The Lerner index-arguably the most commonly used measure …

We reconsider the design of welfare-optimal monetary policy when financing frictions impair the supply of bank credit …

The recent fnancial crisis highlighted the role of Bank Holding Companies (BHCs) in exacerbating the crisis and in … monetary policy and market innovations on bank behavior in the presence of Basel III type regulations. To our knowledge, this … trading business, and show that regulations that target bank governance can mitigate possible rogue trading and the …

in the GCC. We use bank-level panel data, exploiting variation across banks within countries, to isolate the impact of ….S. monetary policy to liability rates than to asset rates and bank profitability, largely reflecting funding structures. In … addition, we explore the role of shifts in the quantity of bank liabilities as policy rates change and the role of large banks …

This paper develops a model to assess how monetary policy rates affect bank risk-taking. In the model, a reduction in … bank extracts from borrowers. Under limited liability, this increased profitability affects only upside returns, inducing … the bank to take excessive leverage and hence risk. Excessive risk-taking increases as the interest rate decreases. At a …

activity is costly and the non-tradable sector is highly dependent on domestic bank credit, as in most emerging market …