Whether and when does banking serve to stabilize the economy? Caprio and Honohan view the banking system as a filter through which foreign and domestic shocks feed through to the domestic economy. The filter can dampen or amplify the shocks through various credit market channels, including...

This work examines the impacts which the Covid-19 pandemic brought to the stability of the European financial sector. Lockdowns, businesses unable to operate and uncertainty about how the pandemic would evolve fueled a sharp recession. From the lessons learned in the global financial crises and...

Rezension: Bezüglich des letzten Werks "Markt ohne Moral" (BA 6/10) der Volkswirtschaftlerin und Ex-Bankerin ist nochmal eine Steigerung bezüglich klarer Darstellung und Verständlichkeit festzustellen. Die Autorin - weit davon entfernt, eine Euro- oder gar Europaskeptikerin zu sein -...

Financial regulation is harmonized across countries even though countries vary in their ability to bail-out their banking sector in the event of a crisis. This paper addresses the question of whether countries with different fiscal capacity should optimally have different bank capital...

Implicit government guarantees to bail out troubled banks can produce a sizable fiscal contingent liability. Drawing on a rich history of various forms of staggered bailouts, this paper studies the link between bank bailouts and fiscal contingent liabilities using bank-level data for...