ECB Working Paper: Bank to sovereign risk spillovers across borders: evidence from the ECB’s Comprehensive Assessment

Authors: Johannes Breckenfelder, and Bernd Schwaab Date: November 2018 Abstract: We study spillovers from bank to sovereign risk in the euro area using difference specifications around the European Central Bank’s release of stress test results for 130 significant banks on October 26, 2014. We document that following this information release bank equity prices in stressed[…]

ECB Working Paper: Monetary policy and bank equity values in a time of low interest rates

Authors: Miguel Ampudia and Skander Van den Heuvel Date: November 2018 Abstract: This paper examines the effects of monetary policy on the equity values of European banks. We identify monetary policy shocks by looking at changes in the EONIA one-month and two-year swap contract rates during narrow windows around the press statements and press conferences[…]

BIS Working Paper: The effects of prudential regulation, financial development and financial openness on economic growth

Authors: Pierre-Richard Agénor, Leonardo Gambacorta, Enisse Kharroubi and Luiz Awazu Pereira da Silva Date: October 2018 Abstract: This paper studies the effects of prudential regulation, financial development, and financial openness on economic growth. Using both existing models and a new OLG framework with banking and prudential regulation in the form of capital requirements, the first[…]

CEPR Discussion Paper: Are Banking and Capital Markets Union Complements? Evidence from Channels of Risk Sharing in the Eurozone

Authors: Mathias Hoffmann, Egor Maslov, Bent E Sørensen and Iryna Stewen Date: October 2018 Abstract: The interplay of equity market and banking integration is of first-order importance for risk sharing in the EMU. While EMU created an integrated interbank market, “direct” banking integration (in terms of direct cross-border bank-to-real sector flows or cross-border banking-consolidation) and[…]

12th Annual Conference – The Paul Woolley Centre for the Study of Capital Market Dysfunctionality

CfP Deadline Date: March 15, 2019 Conference Event: June 6-7, 2019 Event Location: London School of Economics, Houghton Street, London WC2A 2AE, UK Keynote Speaker(s): tba Organizer(s): London School of Economics (LSE) and Bank for International Settlements (BIS) The twelfth annual conference of the Paul Woolley Centre for the Study of Capital Market Dysfunctionality in[…]