dynamic pricing regulation lowers social welfare as the benefit from improved premium stability is outweighed by the cost of … reduced insurer participation. The welfare loss from stricter dynamic pricing regulation could be mitigated if the government …

important are the distortions in the greater regulation of banks that differentially limit risk-taking across alternative … COVID-19 pandemic shock. We argue that tighter bank regulation has created incentives for nonbanks to increase their …

, and discusses their implications for the financial system and regulation. We document that the balance sheet share of … how these shifts impact the financial sector's sensitivity to macroprudential regulation. While raising capital … undergone significant transformation, with implications for macroprudential policy and financial regulation …

substitutes, performing substantially similar activities, with banks inside and NBFIs outside the perimeter of banking regulation … regulation and are such that banks remain special as both routine and emergency liquidity providers to NBFIs. We support this …