Author(s):Tommaso Gasparini, Vivien Lewis, Stéphane Moyen, Stefania Villa Date:March 2024 Abstract: Increases in firm default risk raise the default probability of banks while decreasing output and inflation in US data. To rationalize the empirical evidence, we analyse firm risk shocks in a New Keynesian model where entrepreneurs and banks engage in a loan contract and[…]
Author(s):Ezra Oberfield, Esteban Rossi-Hansberg, Nicholas Trachter & Derek T. Wenning Date:March 2024 Abstract: We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks[…]
CfP Deadline: April 15, 2024 Conference Event: July 29-30, 2024 Event Location: Luxembourg Organizer(s): University of LuxembourgESSEC Business SchoolCentre for Economic Policy Research (CEPR) Keynote Speaker(s): Adriano Rampini (Duke University) Description: The University of Luxembourg, together with ESSEC Business School and the Centre for Economic Policy Research (CEPR), is organising a conference on “Sustainable Financial[…]
Author(s):Victoria Ivashina, Ṣebnem Kalemli-Özcan, Luc Laeven, Karsten Müller Date:March 2024 Abstract: Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the period 1940–2014, we document the following evidence that corporate debt plays a key role in explaining boom-bust cycles, financial crises, and slow macroeconomic recoveries: (i) corporate[…]
CfP Deadline: April 15, 2024 Conference Event: July 31- August 1, 2024 Event Location: Luxembourg Organizer(s): University of Luxembourg Keynote Speaker(s): Josef Zechner (Vienna University of Economics and Business) Description: Submission: Submission Deadline: 15 April 2024 Interested authors should submit their papers as a pdf-file by filling in the following online form. There is no[…]