This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It …

I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital … assets on behalf of households, but must retain an equity stake to align incentives. Financial regulation is necessary …

-16 basis points. We use a simple model to decompose the relative contribution of technology and regulation to the rise of …

factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of … that are more financially developed or have higher quality of institutions experience larger productivity growth responses …

productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … growth, far less attention has been paid to its effects on productivity growth. We provide a comprehensive analysis of the … relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various …

actual sign of the marginal effect of regulation on risk varies with ownership concentration. These findings have important … policy implications as they imply that the same regulation will have different effects on bank risk taking depending on the …