, for example the case of Vietnamese banks before 2000. It showed that this performance is on a decreasing trend (although a …

-going financial disintegration and to break the vicious circle that ties up banks and governments in a death grip (liquidity ring …, leaving a significant funding gap for Southern European banks. To break this circle and re-establish a healthy flow of funds … healthy flow of funds among banks. These measures can be split in two complementary interventions: a monetary policy …

central bank's reaction to liquidity stress gives banks incentives to invest in excessive liquidity transformation, triggering …

-crisis mandates" in Lucerne, Switzerland. The event brought together senior representatives of central banks and academic institutions …

. Central banks face a threefold challenge: economic, intellectual and institutional. This essay puts forward a compass to help … central banks sail in the largely uncharted waters ahead. The compass is based on tighter integration of the monetary and …

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

institutions: banks, the shadow banking system and insurance companies. It concludes that, while substantial progress has been made …