Despite repeated calls for fintech regulations, the impact of looming fintech regulations is still unclear. This paper uses the event of uniformly implementing registration requirements in Chinese peer-to-peer (P2P) industry to answer this question. The results show that, even though the...

This paper develops and calibrates a structural model of contingent capital. The model can be calibrated to specific institutions and used to provide quantitative guidance on important practical issues. For instance this paper appears to be the first to consider the problem of empirically...

This paper is about investigating how different bank liquidity creation activities affect housing markets. Using data of 401 metropolitan statistical areas/divisions (MSAs/MSADs) of the US between 1990 and 2018, we show that not all bank liquidity creation activities boost housing markets. In...