direction thought to be more valuable for society? Should ¡°big¡± banks be broken up? What are the welfare implications of the …

We study the effects of a bank’s engagement in trading. Traditional banking is relationship-based: not scalable, long … leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will …

We study the effects of a bank’s engagement in trading. Traditional banking is relationship-based: not scalable, long … leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will …

or shadow banks have limited or no prudential regulations. This paper studies the macroeconomic impact of household …

We exploit variation in the share of seniors across European banking markets to construct an IV for banks' dependence … funding via targeted longer-term refinancing operations (TLTRO). This effect is stronger when banks face less competition …. Long-term central bank funding further motivates banks to reduce their dependence on debt issuance and increase their money …

affected banks and by non-affected non-bank financial institutions (NBFIs)? To answer this question, we apply a difference … that insurance companies, financial enterprises, and factoring companies - but not leasing companies - and Non-EBA banks … expand their corporate lending relative to EBA banks. In particular, NBFIs use the opportunity to expand their credit …

insurance schemes; the double-edged sword nature of liquidity provision by central banks; the often misunderstood role of …

significant idiosyncratic elements, including the threat of an unprecedented involuntary "reintermediation" wave for banks and the …

banks play complex, long horizon games and face more than one tradeoff. We account for these issues in a simple infinite … central banks cannot attain both low inflation and financial stability. …

-bail-out world, the trade-off between financial stability and the cost of capital, the feasibility for central banks to manage their …