Crisis. They tell a story of what went wrong and why. For instance, had mortgage contracts not been ill-designed in the sense … intermediation, the secured funding market might not have squeezed. Consequently, the investment bank Lehman Brothers would have …

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U … the public, long-term systemic risk among banks tends to increase. From the dynamic perspective, bank penalties represent … long-term. In this respect, bank penalties resemble still waters that run deep. In contrast, a settlement with regulatory …

We extend the monetary DSGE model by Gertler and Karadi (2011) with a non-bank financial intermediary to investigate … the impact of monetary policy shocks on aggregate loan supply. We distinguish between bank and non-bank intermediaries … automatically, bank reaction to shocks corresponds to the balance sheet channel. Non-banks are constrained by the available deposits …

We study the macroeconomic effects of bank capital requirements in an economy with two banking sectors. Banks are …-fulfilling wholesale funding rollover crises. Retail bank capital requirements can reduce the frequency and severity of banking crises …. Tightening retail bank capital requirements increases the size and leverage of the shadow banking sector through a novel channel …