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 …

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 …

We address two questions: (i) Are bank capital structure and value correlated in the cross section, and if so, how? (ii …) If bank capital does affect bank value, how are the components of bank value affected by capital? We first develop a … dynamic model with a dissipative cost of bank capital that is traded off against the benefits of capital: strengthened …

regulated institutions such as bank holding companies and insurance companies, thus creating a source of systemic risk for the …

intermediation through MMFs allows investors to limit their exposure to a given bank (i.e., reap gains from diversifi cation … an MMF-intermediated financial system is the release of private information on bank assets, which is aggregated by MMFs … and could lead them to withdraw en masse from a bank. In addition, we show that MMF intermediation can also be a channel …

developing a new methodology to separate firms' credit shocks from loan supply shocks, using a vast sample of matched bank …-firm lending data. We decompose loan movements in Japan for the period 1990 to 2010 into bank, firm, industry, and common shocks … economy, which creates a role for granular shocks, as in Gabaix (2011). As a result, idiosyncratic bank shocks - movements in …

. The complex bank holding companies of today are the best example of hybrid intermediaries, but I argue that financial … become significant intermediaries and that turned into bank holding companies post-Lehman are, from an organizational …