We examine the consequences of imposing higher capital requirements on banks (as under Basel III or, recently, in the case of large banks in the European context) for bank dynamics in complying with the new standards and for the long-term effects on bank lending rates and the demand for bank...

El documento desarrolla un modelo teórico de contratos en donde los bancos financian las necesidades de liquidez de las empresas a través de líneas de crédito utilizando financiación previa y ex post a la utilización de las líneas de crédito. Cuando las necesidades de liquidez son...

The 1980s and 1990s have been marked with a series of financial and banking crises all over the world. This turned the attention of economists to such questions as how a financial system should be structured in order to reduce the vulnerability of an economy to the risk of a crisis, or what...