regulation, recovery and resolution, and risk culture. …

We integrate banks and the coexistence of bank and bond financing into an otherwise standard New Keynesian framework … moderate bank credit cycles, and to induce a more efficient allocation of resources across sectors. Moreover, we investigate … that the central bank should focus exclusively on price stability and the macroprudential policy-maker should react …

regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly … "missed the forest for the trees". As a result, the need for macroprudential aspects of regulation emerged, which has recently … macroprudential regulation in creating stable, yet effcient financial systems. At the same time, I emphasize the importance of …

about a stable bank capital coverage ratio (in addition to output stabilization and the costs of crisis), optimal policy may …

We study how supranational capital regulation incentivizes national authorities to exercise forbearance and how this …"--without a commensurate increase in book equity and without a reduction in bank risk. We show how national authorities forbear …

liquidity regulation. Our identification strategy uses a regression kink design that relies on the variation in a marginal high …

This paper investigates the costs and benefits of liquidity regulation. We find that liquidity tools are beneficial but … cannot completely remove the need for Lender of Last Resort (LOLR) interventions by the central bank. Full compliance with …

banks when term deposits qualify for the LCR. These results suggest that liquidity regulation affects bank demand in … banks submit in Term Deposit Facility operations, a Federal Reserve tool created to manage the quantity of central bank …