Theory suggests both resilience and fragility in banking networks. This paper finds both, exploiting a new database of …

What are the quantitative effects of countercyclical capital buffers (CCyB)? I study this question in the context of a … raising capital buffers during leverage expansions can reduce the frequency of crises by more than half. Second, I show that … lowering capital buffers during a panic can moderate the intensity of the resulting crisis. A quantitative application to the …

led to a dramatic expansion in the number of non-traditional credit intermediaries, but the macroeconomic and credit …-market implications of this rapid growth of fintech are not known. We build a model with a traditional banking system and endogenous … fintech credit by smaller, unbanked firms. Decreasing entry costs for fintech intermediaries alone has only marginal effects …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking …