Author(s): Andrew Metrick and Paul Schmelzing Date: September 2021 Abstract: We present a new database of banking-crisis interventions since the 13th century. The database includes 1886 interventions in 20 categories across 138 countries, covering interventions during all of the crises identified in the main banking-crisis chronologies, while also cataloguing a large number of interventions outside[…]
Author(s): Galina Hale and Luciana Juvenal Date: September 2021 Abstract: At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of “safe haven” currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using[…]
By Catherine Casanova, Bryan Hardy and Mert Onen In the wake of the Covid-19 fallout, policymakers enacted a wide range of measures to support the flow of credit. Some measures strengthened banks’ lending capacity by preserving their capital and encouraging flexibility in loss accounting. Others, such as state-backed loan guarantees or funding for lending programmes,[…]
CfP Deadline Date: October 31, 2021 Conference Event: April 8, 2022 Event Location: Zurich, Switzerland Organizer(s): Martin Brown, Roland Fuss and Markus Schmid (University of St.Gallen, Swiss Institute of Banking and Finance) SUBMISSION OF PAPERS The 2022 Annual Meeting of the Swiss Society for Financial Market Research (SGF Conference 2022) will be held in Zurich[…]
CfP Deadline Date: October 31, 2021 Conference Event: April 8, 2022 Event Location: Zurich, Switzerland Organizer(s): Martin Brown, Roland Fuss and Markus Schmid (University of St.Gallen, Swiss Institute of Banking and Finance) SUBMISSION OF PAPERS The 2022 Annual Meeting of the Swiss Society for Financial Market Research (SGF Conference 2022) will be held in Zurich[…]
CfP Deadline Date: October 29, 2021 Conference Event: April 3-6, 2022 Event Location: Lenzerheide, Switzerland Organizer(s): University of Zurich, Swiss Finance Institute, KU Leuven, Goethe University Frankfurt, Bank for International Settlements (BIS), Swiss Finance Institute @ EPFL HOW TO APPLY Authors who are CEPR affiliated or already have a CEPR profile can upload their submission[…]
CfP Deadline Date: October 29, 2021 Conference Event: April 3-6, 2022 Event Location: Lenzerheide, Switzerland Organizer(s): University of Zurich, Swiss Finance Institute, KU Leuven, Goethe University Frankfurt, Bank for International Settlements (BIS), Swiss Finance Institute @ EPFL HOW TO APPLY Authors who are CEPR affiliated or already have a CEPR profile can upload their submission[…]
Author(s): Elsa Allman and Joonsung Won Date: March 2021 Abstract: This paper examines the effects of environmental, social and governance (ESG) disclosure on investment efficiency, using the adoption of Directive 2014/95/EU as a quasi-natural shock on disclosure quality. We document a significant and robust reduction of underinvestment for U.S. firms with significant activities in the[…]
Author(s): M. Ayhan Kose, Franziska L. Ohnsorge, Carmen M. Reinhart and Kenneth S. Rogoff Date: September 2021 Abstract: Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is higher now than it was in 2010 and, in half of[…]
Author(s): Hans Degryse, Roman Goncharenko, Carola Theunisz, Tamas Vadasz Date: September 2021 Abstract: We investigate whether and how the environmental consciousness (greenness for short) of firms and banks is reflected in the pricing of bank credit. Using a large international sample of syndicated loans over the period 2011-2019, we find that firms are indeed rewarded[…]