There is growing consensus that the conduct of monetary policy can have an impact on stability through the risk-taking incentives of banks. Falling interest rates might induce a “search for yield” and generate incentives to invest into risky activities. This paper provides evidence on the...

There is growing consensus that the conduct of monetary policy can have an impact on financial and economic stability through the risk-taking incentives of banks. Falling interest rates might induce a "search for yield" and generate incentives to invest into risky activities. This paper provides...

The half-century before World War I has been characterized as the first age of financial globalization. This paper focuses on the role and significance of the bondholders' organizations for the governance of this market. I argue that the outcome of these institutions depended on two dimensions:...