We introduce an innovative approach to measure bank integration, based on the corporate culture of multinational … financial reports of global banks. We employ a two-step approach: as a first step, we investigate whether parent-bank or parent …-country characteristics are more important for bank integration. In a second step, we analyze whether bank integration affects the …

as a store of value and heterogeneous beliefs about bank stability that accounts for this evidence. Only consumers who … are sufficiently pessimistic about bank stability hold cash. The introduction of a central bank digital currency (CBDC) as … a store of value lowers the storage cost of public money and induces partial bank disintermediation, which is …

policy shock) and interest rate movements driven by exogenous information about the economy from the central bank (the … that there is a prominent central bank information component in the widely used high-frequency policy rate surprise measure … that needs to be parsed out. When we remove this central bank information component, the estimated effects of monetary …

monetary disturbances as shocks to central bank gold demand. Based on a monetary DSGE model, the world gold reserve ratio (the … ratio of central bank gold holdings to monetary liabilities) is used to describe monetary conditions. This permits the use …

component and a central bank information shock component. We identify both components using changes in interest rate futures and …