crisis. We use bidding data from the European Central Bank's auctions for one-week loans, their main channel of monetary …

transmission chain by analysing the response of bank loans to the monetary tightening. Our experiment provides evidence on the … not find evidence of a significant response of bank loans to the monetary tightening, which occurred during 1992, in any …

-funded capital injections. However, on closer inspection the composition of bank capital shifted radically from one based on common …

We study information acquisition and dynamic withdrawal decisions when a spreading rumor exposes a solvent bank to a … run. Uncertainty about the bank's liquidity and potential failure motivates depositors who hear the rumor to acquire … additional noisy signals. Depositors with less informative signals may wait before gradually running on the bank, leading to an …

In 2011, Colombia instituted a tax on repayment of bank loans, thereby increasing the cost of short-term bank credit … firms from bank liquidity shocks …

their investors. We show the bank has to have a fragile capital structure, subject to bank runs, in order to perform these … functions. Far from being an aberration to be regulated away, the funding of illiquid loans by a bank with volatile demand … such as narrow banking and bank capital requirements …

market substitutes for bank liabilities do not escape from the cost of reserves since their issuers lean on banks to provide …, including non-bank intermediaries, reserves cannot represent a tax on the banking system alone …

simple model where, even ignoring interconnectedness issues, the failure of a bank causes a larger welfare loss than the … banks, and the size of this response should be larger if a bank, rather than a similarly-sized nonfinancial firm, fails …

process of interstate bank deregulation that lowered barriers to competition across U.S. states over the 1980s and 1990s with … facing each individual bank. We find that regulatory-induced competition reduced liquidity creation. Consistent with some …

system worse off. By contrast, constrained central bank intervention to lower rates maintains private discipline, while …