-sector-time panels to assess how different funding structures are related to financial stress. A higher share of funding from non-bank …

repayments (default). Firms in Italy defaulted more against banks with high levels of past losses. We control for borrower … fundamentals with firm-quarter fixed effects; thus, identification comes from a firm's choice to default against one bank versus … bank relationships comes into doubt …

Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions …

We show that financial sector bailouts and sovereign credit risk are intimately linked. A bailout benefits the economy …-financial sector to fund the bailout may be inefficient since it weakens its incentive to invest, decreasing growth. Instead, the … sovereign may choose to fund the bailout by diluting existing government bondholders, resulting in a deterioration of the …

unprecedented government bailout of the central bank, and resulted in loss of shareholder control over the central bank …Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand …

Now in prospect is a major revision of international bank capital regulations that would embody recent advances in … increase in bank failure rates over time …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …