Firm political contributions are associated with lower credit default swap spreads for contributing firms. To address endogeneity, we employ novel instruments and use a set of exogenous events on campaign contribution restrictions: (a) the passage of the Bipartisan Campaign Reform Act (BCRA)...

We conduct a systematic literature review on environmental and climate related risk management in the financial sector. The systematic literature review identified a total of 36 relevant articles. A formal coding leads to the aggregation and classification of papers to three main categories that...

In a 1999 paper, Freeman proposes a model in which discount window lending and open market operations have different outcomes - an important development because in most of the literature the results of these policy tools are indistinguishable. Freeman's conclusion that the central bank should...

This paper sheds light on the linkages between banking crises and the effectiveness of short-run loans in reducing bank failure, bank runs, and potential looting by bankers. It develops an overlapping generations framework which incorporates the possibility that an anticipating liquidity...

An important, emerging literature suggests that the proximate cause of the recent financial crisis was an old-fashioned bank run of the sort that was common prior to the Great Depression. But instead of individuals converging on the local savings and loan, this bank run involved investment...