fluctuations generate a balance sheet channel, is used to rationalize the evidence. A monetary expansion increases bank leverage …

International financial linkages, particularly through global bank flows, generate important questions about the …. Empirical tests of the trilemma support this view that global bank effects are heterogeneous and that the primary drivers of …

framework in which fractional reserve banks emerge in equilibrium, where bank assets are funded with liabilities made demandable … in government money, where the terms of bank deposit contracts are affected by the liquidity insurance available in … financial markets, where banks are subject to runs, and where a central bank has a meaningful role to play, both in terms of …

This paper shows that bank competition has an intrinsically ambiguous effect on capital accumulation and economic … evidence gathered from recent empirical studies of how bank competition affects the real economy. Our results were obtained by … leads to higher capital accumulation. The opposite is true when entrepreneurs are innately of higher credit quality. -- Bank …