countries, central bank holdings of dollar reserves are significantly correlated with the dollar-denominated bank borrowing of … model in which the central bank can deal with private-sector mismatch, and the associated risk of a domestic financial … crisis, in two ways: (i) by imposing ex ante financial regulations such as bank capital requirements; or (ii) by building a …

anticipation of this bailout undermines a bank's private incentive to impose a bail-in. In the resulting equilibrium, bail-ins are …

Foreign currency borrowing is perceived as a source of financial instability in emerging markets. We propose a theory …

Foreign currency borrowing is perceived as a source of financial instability in emerging markets. We propose a theory …