This paper (i) reviews the different channels of transmission of prudential policy highlightedin the literature and (ii) provides a quantitative assessment of the impact of Basel III reforms using "off-the-shelf" DSGE models. It shows that the effects of regulation are positive on GDP whenever...

The paper studies a possibility of creation of structure interbank cooperative arrangements with the goal to cut down a risk of failure. An attention concentrates on mutually ex-post help among banks which applies for deposit but faced the risk of portfolio that is not exante diversified. An...

To explain the existence of "stop-loss" rules in financial institutions, we develop a principal/agent model, where an investment firm relies on a trader to invest in a risky asset like a future contract. When the trader faces a limited liability constraint, the investment firm may increase its...

The paper investigates, from the welfare and growth point of view, the determination of the optimal capacity of the banking system. For that purpose, we consider an overlapping generation model with endogenous growth. There is horizontal differentiation and imperfect competition in the banking...

Cet article propose un modèle de croissance endogène dans lequel on introduit des intermédiaires financiers en concurrence imparfaite et une rémunération du capital soumise à un choc macroéconomique. Les anticipations rationnelles des ménages sur le risque de faillites bancaires (dont...

This article reports on a round table panel discussion entitled « Sovereign Debt Crisis and the Future of the Eurozone », which took place at the 29th International Symposium on Money, Banking and Finance, at the University of Nantes, June 28-29, 2012. The panel was chaired by Andy Mullineux...

[eng] Monetary policy, bank capital and market liquidity . The implementation of the Basel II Capital Accord highlights the role of bank capital in the conduct of monetary policy. The paper studies the three types of instances that central banks may face. In normal times, the distribution of...