do they mitigate, and how large are these effects? We show that by purchasing government bonds, central banks induce …

largest banks are dropped from the sample. Results indicate that it is transitory. We also find a large effect of the crisis …

monopoly and its impact on the note issuing chartered banks. Between 1935-1950, Canadian chartered banks had to gradually … withdraw their notes from circulation. In a difference-in-differences analysis, I show that chartered banks constrained by new … the longer horizon, suggesting that note issuance was an important source of revenue for private banks and allowed them to …

banks play complex, long-horizon games and face more than one tradeoff. We account for these issues in a simple infinite …, independent central banks cannot in general attain both low inflation and financial stability. …

-interest rate environment, which fundamentally changed the business environment for the Japanese commercial banks. On the income … side, with interest margins becoming increasingly depressed, net interest revenues declined, which forced the banks to … expand revenues from fees and commissions. The banks had to cut costs by reducing the number of employees, closing branches …

to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers … banks to nonbank financial institutions. In a specialized financial system, which the GSA had helped create, the use of the … lender-of-last-resort safety net could be more comfortably limited to commercial banks. However, the elimination of GSA …