The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

macroprudential regulation and policy in Seoul, Korea, on 16-18 January 2011. The conference aimed to bring academics together with …

gains in the longer term) with due consideration being given to initial conditions concerning regulation, taxes and exchange …

performance under a fragmented financial regulatory structure is not worse than under integrated regulation. This implies that …

, when Paris was the second financial centre in the world. In 1893, a law threatened the existing two-exchanges equilibrium …

The recent financial crisis has highlighted the need to go beyond a purely micro approach to financial regulation and … financial regulation has grown considerably. The policy debate is focusing in particular on macroprudential tools and their …

regulation limits the banks’ ratio of FX derivatives positions to capital. By using cross-bank variation in the tightness of the … regulation, I show that the regulation causes a reduction in the supply of FX derivatives. Controlling for hedging demand, I find …-standard-deviation increase in a firm’s exposure to the regulation shock transmitted by banks, exports fall by 17.1% for high-hedge firms and rise …