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

CEPR Discussion Paper – Macroprudential policy with earnings-based borrowing constraints

Author(s): Thomas Drechsel and Seho Kim Date: October 2022 Abstract: A large literature has studied optimal regulatory policy in macroeconomic models with collateral constraints. A common conclusion is that agents `over-borrow’ and optimal policy reduces debt positions through taxes. The reason is that agents do not internalize the effects of their choices on asset prices.[…]

NBER Working Paper: Five Facts about the UIP Premium

Author(s): Ṣebnem Kalemli-Özcan and Liliana Varela Date: May 2022 Abstract: We document five novel facts about Uncovered Interest Parity (UIP) deviations vis-à-vis the U.S. dollar for 34 currencies, during 1996-2018. 1) The UIP premium co-moves with global risk perception (VIX) for all currencies, whereas only for emerging market currencies there is a negative comovement between[…]

CEPR Discussion Paper – Measuring openness

Author(s): Jean Imbs, Laurent Pauwels Date: April 2022 Abstract: We introduce a measure of exposure to foreign shocks -openness- that computes the fraction of output subjected to foreign shocks at any order. The measure is easy to obtain for any sector with input-output data; It implies that openness is much more prevalent than often thought,[…]

SSRN Working Paper – Trade Uncertainty and U.S. Bank Lending

Author(s): Ricardo Correa , Julian di Giovanni, Linda S. Goldberg, and Camelia Minoiu Date: September 2022 Abstract: When trade uncertainty directly affects credit supply it can amplify other contractionary impulses from a deterioration in the international trade environment. Exploiting heterogeneity in banks’ ex-ante exposure to trade uncertainty and loan-level data for U.S. banks, we show[…]

NBER Working Paper – A Portfolio Approach to Global Imbalances

Author(s): Zhengyang Jiang, Robert J. Richmond and Tony Zhang Date: July 2022 Abstract: We use a portfolio-based framework to understand what drives the decline of the U.S. net foreign asset (NFA) position and the reversal in returns earned on the US NFA (exorbitant privilege). We show that global savings gluts and monetary policies widened the[…]

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Matias Ossandon Busch
Matias Ossandon Busch
Senior Economist at the Center for Latin American Monetary Studies
Lena Tonzer
Lena Tonzer
Assistant Professor at VU Amsterdam
ELEONORA SFRAPPINI
ELEONORA SFRAPPINI
Economist in the Department of Financial Markets