International Banking Library

The International Banking Library is a web-based platform for the exchange of research on cross-border banking. It provides access to data sources, academic research, both theoretical and empirical on cross-border banking, as well as information on regulatory initiatives. The International Banking Library is associated with the International Banking Research Network (IBRN), a research network of Central Banks worldwide. The International Banking Library addresses researchers, policymakers, and students of international banking and economics in search of comprehensive information on international banking issues.

At the research frontier

NBER Working Paper: A Macroprudential Theory of Foreign Reserve Accumulation

Author(s):Fernando Arce, Julien Bengui, Javier Bianchi Date:September 2019 Abstract: This paper proposes a theory of foreign reserves as macroprudential policy. We study an open economy model of financial crises, in which pecuniary externalities lead to overborrowing, and show that by accumulating international reserves, the government can achieve the constrained-efficient allocation. The optimal reserve accumulation policy[…]

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September 2019: the ECB Occasional Paper – Macroprudential policy at the ECB: Institutional framework, strategy, analytical tools and policies

This occasional paper describes how the financial stability and macroprudential policy functions are organised at the ECB. Financial stability has been a key policy function of the ECB since its inception. Macroprudential policy tasks were later conferred on the ECB by the Single Supervisory Mechanism (SSM) Regulation. The paper describes the ECB’s macroprudential governance framework[…]

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CEPR Working Paper: Macroprudential Policy with Leakages

Author(s): Julien Bengui, Javier Bianchi Date: August 2019 Abstract: The outreach of macroprudential policies is likely limited in practice by imperfect regulation enforcement, whether due to shadow banking, regulatory arbitrage, or other regulation circumvention schemes. We study how such concerns affect the design of optimal regulatory policy in a workhorse model in which pecuniary externalities[…]

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CEPR Working Paper: A Macroprudential Theory of Foreign Reserve Accumulation

Author(s): Fernando Arce, Julien Bengui, Javier Bianchi Date: August 2019 Abstract: This paper proposes a theory of foreign reserves as macroprudential policy. We study an open economy model of financial crises, in which pecuniary externalities lead to overborrowing, and show that by accumulating international reserves, the government can achieve the constrained-efficient allocation. The optimal reserve[…]

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NBER Working Paper: The Natural Level of Capital Flows

Authors: John D. Burger, Francis E. Warnock, Veronica Cacdac Warnock Date: August 2019 Abstract: We put forward the notion that capital flows—specifically, gross portfolio flows—fluctuate around some natural level. Our particular measure of the natural level of capital flows, denoted by KF*, is a theory-based time-varying supply-side factor, much like potential GDP is a theory[…]

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Hannes Böhm
Hannes Böhm
Economist in the Department of Financial Markets
Matias Ossandon Busch
Matias Ossandon Busch
Economist in the Department of Financial Markets
Lena Tonzer
Lena Tonzer
Assistant Professor at Martin Luther University Halle-Wittenberg