by Isabel Schnabel Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Annual Congress of the European Economic Association (EEA). Link: The rise of non-bank finance and its implications for monetary policy transmission
CfP Deadline Date: October 31, 2021 Organizer(s): SUERF and UniCredit Foundation This call for papers invites original research – theoretical or empirical, academic or policy-oriented – which studies the interaction of COVID, government measures aiming to mitigate firm and household bankruptcies, and the development of non-performing loans; how banks have so far dealt with them;[…]
Authors: Kilian Rieder Date: August 2021 Abstract: I exploit a single natural experiment to estimate the comparative causal effects of different financial stability policies on bank-level credit. In 1920, four Federal Reserve Banks hiked their interest rate indiscriminately to safeguard financial stability. Another four Reserve Banks employed targeted rate action aimed at over-leveraged banks instead.[…]
Author(s): Shekhar Aiyar and Manasa Patnam Date: May 2021 Abstract: This paper examines whether IMF lending is associated with increases in outflows to offshore financial centers (OFCs), known for bank secrecy and asset protection, relative to other international destinations. Using quarterly data from the BIS on bilateral bank deposits, we are unable to detect any[…]