financial stability. Our analysis suggests that, going into the financial crisis, banks' disclosures about relevant risk … exposures were relatively sparse. Such disclosures came later after major concerns about banks' exposures had arisen in markets …. Similarly, banks delayed the recognition of loan losses. Banks' incentives seem to drive this evidence, suggesting that …

levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more … banks' liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference …-in-differences approach we assess the impact of this tax levy on banks' participation in the syndicated loan market. We further investigate …

Credit affects individuals' perceptions and experiences of inequality. Having access to credit enables those in lower … in all, credit may help smooth out class and status differences. This article looks at the impact of credit on citizens … negative association between credit use and public support for redistribution …

This paper documents how traditional and shadow banks interacted with one another during the 2007 financial crisis …, when both assets and liabilities flew from shadow to traditional banks. To rationalize their behavior, we propose a simple … model which demonstrates the symbiotic coexistence and mutual reliance of traditional and shadow banks through their …

banks and less informational asymmetry. A large central supervisor can take advantage of economies of scale and scope in …