Welcome to International Financial Crises. This page is dedicated the study of financial crises, especially currency and banking crises. It is a part of the International Economics Network.
Since the 1980s, the march of globalisation and concomitant increases in flows of capital and trade have led to high volatility in international financial markets. Some of these have erupted into crises, in the form of runs on banks - both national and multinational - as well as attacks on currencies. Resultant effects have included the significant increase in contagion and the collapse of both venerable private banks as well as national institutions. Whereas research on specific episodes of currency crises are better found elsewhere, this page is more general in nature and collects research on the phenomenon of financial crises.
The literature is constantly expanding, and it can be impossible to maintain an updated list of all contributions in the field. Hence, I would appreciate any suggestions and/or nominations (drop the 'spam' at the end of the address), even if the work should be your own. Given variations in individual judgement and the difficulty in divorcing the different elements of the subject matter, there is necessary some overlap in the (admittedly) artificial taxonomy that has been applied to organise the various works into manageable headings.
Financial Crises in Emerging Markets
Theoretical Studies & Models of Currency Collapse
Financial Crises
The Golembe Reports Library
The Macroeconomics of Self-Fulfilling Prophecies, 2nd Edition
Abstract: For many years it was fashionable to treat macroeconomics and microeconomics as separate subjects without looking too deeply at the relationship between the two. But in the 1970s there occurred an episode of high inflation and high unemployment, which was inconsistent with orthodox theory. As a result, macroeconomists began to pay much greater attention to the microfoundations of their subject. In this book Roger E. A. Farmer takes a somewhat controversial point of view, arguing for the future of macroeconomics as a branch of applied general equilibrium theory. His main theme is that macroeconomics is best viewed as the study of equilibrium environments in which the welfare theorems break down. This approach makes it possible to discuss the role of government policies in a context in which policy may serve some purpose. Since the publication of the first edition in 1993, self-fulfilling prophecies has become a major competitor to the real business-cycle view of economic fluctuations. The second edition has been updated in three ways: (1) problems are included at the end of every chapter, and a study guide containing sample answers to all of the problems is available; (2) a new chapter discusses research from the past five years on business fluctuations in multisector models; and (3) the chapter on representative agent growth models now includes an appendix that explains the transversality condition.
In Defense of Free Capital Markets
Asset Price Bubbles: The Implications for Monetary, Regulatory, and International Policies
Financial Crises, Liquidity, and the International Monetary System
Abstract: Once upon a time, economists saw capital account liberalization--the free and unrestricted flow of capital in and out of countries--as unambiguously good. Good for debtor states, good for the world economy. No longer. Spectacular banking and currency crises in recent decades--from Latin America in the early 1980s to Scandinavia a decade later to Mexico, Southeast Asia, Russia, and, quite lately, Argentina--have shattered the consensus. In this remarkably clear and pithy volume, one of Europe's leading economists examines these crises, the reforms being undertaken to prevent them, and how global financial institutions might be restructured to this end. Jean Tirole first analyzes the current views on the crises and on the reform of the international financial architecture. Reform proposals often treat the symptoms rather than the fundamentals, he argues, and sometimes fail to reconcile the objectives of setting effective financing conditions while ensuring that a country "owns" its reform program. A proper identification of market failures is essential to reformulating the mission of an institution such as the IMF, he emphasizes. Next he adapts the basic principles of corporate governance, liquidity provision, and risk management of corporations to the particulars of country borrowing. Building on a "dual- and common-agency perspective," he revisits commonly advocated policies and considers how multilateral organizations can help debtor countries reap enhanced benefits while liberalizing their capital accounts.
Capital Flows and Crises
Abstract: The implications of capital mobility for growth and stability are some of the most contentious and least understood contemporary issues in economics. In this book Barry Eichengreen discusses historical, theoretical, empirical, and policy aspects of the effects, both positive and negative, of capital flows. He focuses on the connections between capital flows and crises as well as on those between capital flows and growth. Eichengreen argues that international financial liberalization, like other forms of economic liberalization, can positively affect the efficiency of resource allocation and the rate of economic growth. But analyses of both recent and historical experience also show an undeniable association between capital mobility and crises, especially when domestic institutions are weak and the harmonization of capital account liberalization and other policy reforms is inadequate. In his conclusion, Eichengreen makes suggestions for policy design to maximize the benefits of international financial liberalization while minimizing the risks of financial instability.
Turbulent Waters: Cross-Border Finance and International Governance
IMF Essays from a Time of Crisis: The International Financial System, Stabilization, and Development
Abstract: The first deputy managing director of the International Monetary Fund during the international crises of the last decade reflects on international monetary policy and the role of the IMF.
From Capital Surges to Drought: Seeking Stability for Emerging Economies
Abstract: This book analyzes the new trends in capital flows to emerging markets since the Asian crisis, their determinants and policy implications. It explains why such flows have declined so dramatically in recent years, emphasising both structural and cyclical factors. Senior bankers, regulators, and well-known academics explain the behaviour of different players. The book breaks new ground by showing in detail how such behaviour has contributed to the decline of flows and their volatility. The book suggests what coping mechanisms developing countries could adopt to deal with crisis situations; what measures should be taken at the national and international levels to make recipient countries less vulnerable to international financial instability; how such instability can be reduced; and what can be done on the source countries to encourage larger more stable capital flows to developing countries.
Bailouts or Bail-ins? Responding to Financial Crises in Emerging Economies
Abstract: Roughly once a year, the managing director of the International Monetary Fund, the U.S. treasury secretary and in some cases the finance ministers of other G-7 countries will get a call from the finance minister of a large emerging market economy. The emerging market finance minister will indicate that the country is rapidly running out of foreign reserves, that it has lost access to international capital markets and, perhaps, that is has lost the confidence of its own citizens. Without a rescue loan, it will be forced to devalue its currency and default either on its government debt or on loans to the country’s banks that the government has guaranteed. This book looks at these situations and the options available to alleviate the problem. It argues for a policy that recognizes that every crisis is different and that different cases need to be handled within a framework that provides consistency and predictability to borrowing countries as well as those who invest in their debt.
Crisis Prevention and Prosperity Management for the World Economy: Pragmatic Choices for International Financial Governance I
Financial Crises: Lessons from the Past, Preparation for the Future
Abstract: Throughout the 1990s, numerous financial crises rocked the world financial sector. The Asian bubble burst, for example; Argentina and Brazil suffered currency crises; and the post-Soviet economy bottomed out in Russia. In Financial Crises, a distinguished group of economists and policy analysts examine and draw lessons from attempts to recover from past crises. They also consider some potential hazards facing the world economy in the 21st century and discuss ways to avoid them and minimize the severity of any future downturn.
Emerging Capital Markets in Turmoil: Bad Luck or Bad Policy?
Abstract: Analysis of financial crises in emerging market economies, including Mexico, Argentina, and Russia; traces the evolution of crisis theory and challenges the conventional wisdom.
Banking crises in emerging economies: origins and policy options
Is our Current International Economic Environment Unusually Crisis Prone?
Transparency, Liberalization and Financial Crises
Who Recovers First? Banking Crisis Resolution in Developing Countries
Solvency Runs, Sunspot Runs, and International Bailouts | Published
Banking Crises and Exchange Rate Regimes: Is There a Link? | Published
Crises and Liquidity - Evidence and Interpretation
On the welfare gains of reducing the likelihood of economic crises
Development Financing during a Crisis: Securitization of Future Receivables
Currency Crises and the Real Economy - The Role of Banks
Has 1997 Asian Crisis Increased Information Flows Between International Markets?
Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia
The interbank market during a crisis
Financial Restructuring in Banking and Corporate Sector Crises: What Policies to Pursue?
Post-Resolution Treatment of Depositors at Failed Banks: Implications for the Severity of Banking Crises, Systemic Risk, and Too-Big-To-Fail
Labor, financial crises, and globalization
Financial Liberalization and Banking Crises in Emerging Economies | Published
The Market for Crash Risk
Financial Contagion Through Capital Connections: A Model of the Origin and Spread of Bank Panics
Abstract: Financial contagion is modeled as an equilibrium phenomenon in a dynamic setting with incomplete information and multiple banks. The equilibrium probability of bank failure is uniquely determined. We explore how the cross holding of deposits motivated by imperfectly correlated regional liquidity shocks can lead to contagious effects conditional on the failure of a financial institution. We show that contagious bank failure occurs with positive probability in the unique equilibrium of the economy and demonstrate that the presence of such contagion risk can lead to endogenously incomplete insurance against liquidity shocks.
Moral Hazard and International Crisis Lending: A Test
Financial Instability and Monetary Regulation
Systemic Financial Crises, Balance Sheets, and Model Uncertainity
Financial Institutions, Financial Contagion, and Financial Crises
Foreign Currency Credit Ratings for Emerging Market Economies
Financial Liberalization and Banking Crises in Emerging Economies
Banking Crises in Emerging Markets: Presumptions and Evidence
Corporate Governance in the Asian Financial Crisis
Financial Crises, Poverty, and Income Distribution
Managing the Real and Fiscal Effects of Banking Crises
Common determinants of bond and stock market liquidity: the impact of financial crises, monetary policy, and mutual fund flows
Banking, financial integration, and international crises : an overview
Financial Crises, Financial Dependence, and Industry Growth
Monetary Policy in a Financial Crisis
Excessive Risk-Taking, Banking Sector Fragility, and Banking Crises
Exchange rate regimes and financial dollarization: does flexibility reduce bank currency mismatches?
Web Resources
The NBER has gathered all material written by its associates into a convenient resource location. Many of these working papers have formed the basis for published papers in the field.
Part of the Global Macroeconomic and Financial Policy website: other related collections here are Empirical Papers on Crises, Crisis Resolution, Studies of Contagion, Capital Controls, and Banking Crises.
World Bank studies on financial crises. The Bank also researches on Contagion and International Capital Flows.
The focus of the Golembe Report is mainly on U.S. financial policy; occasional reports do address banking crises. Unfortunately, the library only contains summaries of the actual reports.
Print Resources
Farmer, R. (1999)
De Rosa, David (2000)
Hunter, W.C., G.G. Kaufman & M. Pomerleano (editors) (2003)
Tirole, J. (2002)
Eichengreen, B. (2003)
Bryant, R.C. (2003)
Fischer, S. (2004)
Ffrench-Davis, R. & S. Griffith-Jones (editors) (2004)
Roubini, N. & B. Setser (2004)
Bryant, R.C. (2004)
CONFERENCE VOLUME
Caprio, G., J.A. Hanson & R.E. Litan (editors) (2005)
Calvo, G.A. (2005)
Banking & Financial Crises
Goldstein, M. & P. Turner (1996)
Bordo, M. & B. Eichengreen (1999)
Mehrez, G. & D. Kaufmann (1999)
Montinola, G. (2000)
Spiegel, M.M. (2000)
Domac, I., M.S.M. Peria (2000)
Detragiache, E. & A. Spilimbergo (2001)
Chatterjee, S. & D. Corbae (2001)
Ketkar, S. & D. Ratha (2001)
Disyatat, P. (2001)
Climent, F.J. & V. Meneu (2001)
Dekle, R. & K.M. Kletzer (2001)
Furfine, C. (2001)
Claessens, S., D. Klingebiel & L. Laeven (2001)
Kaufman, G.G. & S.A. Seelig (2001)
Diwan, I. (2001)
Daniel, B.C. & J.B. Jones (2001/07)
Bates, D.S. (2001)
Dasgupta, A. (2001)
Dell'Ariccia, G., I. Gödde & J. Zettelmeyer (2001)
Aglietta , M. (2001)
Stone, M.R. & M. Weeks (2001)
Huang, H. & C. Xu (2001)
Mulder, C.B. & R. Perrelli (2001)
Daniel, B. & J.B. Jones (2001)
Eichengreen, B. & C. Arteta (2001)
Johnson, S., P. Boone, A. Breach & E. Friedman (2001)
Baldacci, E., L.R. De Mello Jr. & M.G. Inchauste Comboni (2002)
Claessens, S., D. Klingebiel, L. Laeven, P. Honohan & G. Caprio (2002)
Chordia, T., A. Sarkar & A. Subrahmanyam (2002)
SURVEY PAPER
Hernández, L. & K. Schmidt-Hebbel (2002)
Laeven, L., D. Klingebiel & R. Kroszner (2002)
Christiano, L.J., C. Gust & J. Roldos (2002)
Kibritcioglu, A. (2002)
Crisis Prevention and Crisis Management: The Role of Regulatory Governance
Das, U.S. & M.G. Quintyn (2002)
Bedfellows, Hostages, or Perfect Strangers? Global Capital Markets and the Catalytic Effect of IMF Crisis Lending
Cottarelli, C. & C. Giannini (2002)
Liquidity provision vs. deposit insurance: Preventing bank panics without moral hazard?
Martin, A. (2002)
Decentralized Creditor-Led Corporate Restructuring: Cross-Country Experience
Dado, M. & D. Klingebiel (2002)
"Original Sin," Balance Sheet Crises and the Roles of International Lending
Zettelmeyer, J. & O. Jeanne (2003)
Gaucho Banking Redux
della Paolera, G. & A.M. Taylor (2003)
Availability of Financial Soundness Indicators
SURVEY PAPER
Slack, G. (2003)
Financial Crises as Herds: Overturning the Critiques | Published
Chari, V.V. & P.J. Kehoe (2003)
Economic growth, liquidity, and bank runs
Ennis, H. & T. Keister (2003)
Bank Concentration and Crises | Alternative | Published
Beck, T., A. Demirgüç-Kunt, and R. Levine (2003/06)
Abstract: Motivated by public policy debates about bank consolidation and conflicting theoretical predictions about the relationship between the market structure of the banking industry and bank fragility, this paper studies the impact of bank concentration, bank regulations, and national institutions on the likelihood of suffering a systemic banking crisis. Using data on 70 countries from 1980 to 1997, we find that crises are less likely in economies with (i) more concentrated banking systems, (ii) fewer regulatory restrictions on bank competition and activities, and (iii) national institutions that encourage competition.
Transparency, Risk Management and International Finacial Fragility
Draghi, M., F. Giavazzi & R.C. Merton (2003)
Propping and Tunneling
Friedman, E., S. Johnson & T. Mitton (2003)
Debt maturity structure with pre-emptive creditors
Gai, P. & H.S. Shin (2003)
Liberalization, Growth and Financial Crises | Alternative
Tornell, A., F. Westermann & L. Martinez (2003)
Crisis in Competitive versus Monopolistic Banking Systems
Boyd, J.H., G. De Nicolo & B.D. Smith (2003)
Currency Mismatches, Debt Intolerance and Original Sin: Why They Are Not the Same and Why it Matters
Eichengreen, B., R. Hausmann & U. Panizza (2003)
On the welfare gains of eliminating a small likelihood of economic crises: A case for stabilization policies?
Chatterjee, S. & D. Corbae (2003)
Financial Instability under Floating Exchange Rates
Vranceanu, R. & D. Besancenot (2003)
Liquidity Shortages and Banking Crises
Diamond, D.W. & R.G. Rajan (2003)
Crises and Growth: A Re-Evaluation
Ranciere, R., A. Tornell & F. Westermann (2003)
Systematic Financial Distress: Containment and Resolution
CONFERENCE VOLUME
Various Authors (2003)
Abstract: The resolution of a systemic financial crisis involves many policy choices ranging from macroeconomic (including monetary and fiscal policy) to microeconomic (including recapitalization of financial institutions, closure, capital adequacy rules and corporate governance requirements), with reforms varying in depth. These choices involve tradeoffs, including the amount of government resources needed to resolve the crisis, the speed of recovery, and the recovery’s sustainability. Despite considerable analysis, these tradeoffs are not well known—an oversight that leads to conflicting policy advice and larger than necessary economic costs. Even less is known about the political economy factors that make governments choose certain policies. Policies enacted during crises importantly shape the financial sector and have important long-term impact on financial sector development. The objective of this conference on “Systemic Financial Distress: Containment and Resolution” is to discuss and add to existing knowledge about the tradeoffs involved in policies related to systemic financial restructuring and to review how policies have been used. The conference complements the World Bank’s Global Bank Insolvency Initiative where the focus is more on the legal and institutional aspects of bank insolvency, not necessarily being of systemic importance. The conference proceedings will be published in a book.
Bank Portfolio Restrictions and Equilibrium Bank Runs | Published
Shell, K. & J. Peck (2003)
International Financial Crises
Dornbusch, R. & S. Fischer (2003)
Abstract: Our friend and colleague Rudiger Dornbusch passed away before he was able to complete his book based on the Munich Lectures in Economics that he gave in November 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universitaet. The lectures contain a fascinating overview of the mechanics and history of international financial crises showing the breadth and ingenuity of this eminent scholar. The lectures were lively and provocative, full of important insights and observations. Interestingly enough, Dornbusch expressed a substantial mistrust in the actions of political decision makers, supervisory agencies and central banks in the game that leads to the crisis and even collapse of financial systems, and he advocated supranational supervisory actions as a remedy. CES has decided to prepare a transcript of the lectures, which are also available in the Internet as full length-videos. I am grateful to Paul Kremmel for his assistance.
Government Guarantees, Investment, and Vulnerability to Financial Crises
Irwin, G. & D. Vines (2003)
Banks, Liquidity Crises and Economic Growth
Gaytan, A. & R. Ranciere (2003)
Balance Sheet Effects, Bailout Guarantees and Financial Crises | Published
Schneider, M. & A. Tornell (2003)
Improving the Availability of Trade Finance during Financial Crises
Auboin, M. & M. Meier-Ewert (2003)
Distributional Effects of Crises: The Role of Financial Transfers
Halac, M. & S. Schmukler (2003)
The Effects of Financial Crises on International Trade
Ma, Z. & L. Cheng (2003)
Financial Crises and the Presence of Foreign Banks
Tschoegl, A.E. (2003)
Characterizing Global Investors' Risk Appetite for Emerging Market Debt During Financial Crises
Dungey, M., R. Fry, B. Gonzalez-Hermosillo & V. Martin (2003)
Fundamentals, Panics, and Bank Distress During the Depression
Calomiris, C.W. & J.R. Mason (2004)
Lending booms, sharp reversals and real exchange rate dynamics
Gopinath, G. (2004)
Currency crises and contingent liabilities
Burnside, C. (2004)
Financial Development and the Instability of Open Economies | Published
Aghion, P., P. Bacchetta & A. Banerjee (2004)
Abstract: This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital and a country-specific factor. We also assume that firms face credit constraints, with the constraint being tighter at a lower level of financial development. A basic implication of this model is that economies at an intermediate level of financial development are more unstable than either very developed or very underdeveloped economies. This is true both in the sense that temporary shocks have large and persistent effects and also in the sense that these economies can exhibit cycles. Thus, countries that are going through a phase of financial development may become more unstable in the short run. Similarly, full capital account liberalization may destabilize the economy in economies at an intermediate level of financial development: phases of growth with capital inflows are followed by collapse with capital outflows. On the other hand, foreign direct investment does not destabilize.
Timing of International Bailouts
Kim, S-J. (2004)
Liquidity and Financial Market Runs
Bernardo A.E. & I. Welch (2004)
Rational Speculation, Financial Crises, and Optimal Policy Responses
Surti, J. (2004)
Slow Recoveries
Bergoeing, R., N. Loayzaw & A. Repetto (2004)
Abstract: Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics through its effect on productivity: the entry and exit of firms and the reallocation of resources from less to more efficient firms explain a relevant part of transitional productivity dynamics. In this paper we use a stochastic general equilibrium model with heterogeneous firms to study the effect on aggregate short-run growth of policies that distort the process of birth, growth and death of firms, as well as the reallocation of resources across economic units. Our findings show that indeed policies that alter plant dynamics can explain slow recoveries. We also find that output losses associated to delayed recoveries are large.
Liquidity, Efficiency, and Bank Bailouts
Gorton, G. & L. Huang (2004)
Bank Runs and Investment Decisions Revisited | Published
Keister, T. & H.M. Ennis (2004/06)
Currency mismatch, uncertainty and debt maturity structure
Bussière, M., M. Fratzscher & W. Koeniger (2004)
Abstract: The academic literature has so far little to say about the underlying causes of the large structural asset and liability imbalances of emerging markets that frequently contributed to financial crises. The aim of the paper is to contribute to filling this gap by proposing a theoretical model that links currency and maturity mismatches with real volatility in the economy. We show that if (i) a significant share of the debt is denominated in foreign currency-creating a currency mismatch- and (ii) borrowing is constrained by solvency, then currency mismatch can create and exacerbate a maturity mismatch. An important feature of the model is that higher economic or political uncertainty tightens solvency constraints and tilts the debt profile towards short term debt, thereby increasing the volatility of output. Taking the model implications to the data, we find empirical support for the model’s predictions using data for 28 emerging market economies.
Market imperfections and the instability of open economies
Meng, Q. & A. Velasco (2004)
Resolving Systemic Financial Crises: Policies and Institutions
Klingebiel, D., S. Claessens & L. Laeven (2004)
Why Do Emerging Economies Borrow Short Term?
Broner, F., G. Lorenzoni & S. Schmukler (2004)
Bailouts and Bank Runs in a Model of Crony Capitalism
Femminis, G. & L. Ruggerone (2004)
Market Discipline under Systemic Risk: Evidence from Bank Runs in Emerging Economies
Levy Yeyati, E., M.S.M. Peria & S. Schmukler (2004)
Money Market Pressure and the Determinants of Banking Crises
Ho, T-K. & J. von Hagen (2004)
The efficient resolution of capital account crises: how to avoid moral hazard
Irwin, G. & D. Vines (2004)
Financial Liberalization, Banking Crises and Growth: Assessing the Links
Bonfiglioli, A. & C. Mendicino (2004)
Crises and Prices: Information Aggregation, Multiplicity and Volatility
Angeletos, G-M. & I. Werning (2004)
Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change
Angeletos, G-M., C. Hellwig & A. Pavan (2004)
Managing Confidence in Emerging Market Bank Runs
Kim, S-J. & A. Mody (2004)
Systemic Crises and Growth
Ranciere, R., A. Tornell & F. Westermann (2005)
Policies for Banking Crises: A Theoretical Framework
Repullo, R. (2005)
Financial Crises, 1880-1913: The Role of Foreign Currency Debt | Published
Bordo, M. & C. Meissner (2005/06)
The Real Effect of Banking Crises
Dell'Aricia, G., E. Detragiache & R. Rajan (2005)
Aftermath of banking crises: Effects on real and monetary variables
Gupta, P. (2005)
Abstract: This paper models the effects of a banking crisis, and in particular distinguishes between a short-term crisis, such as a banking panic, and a longer-term crisis, such as a banking insolvency. Using an optimizing framework, it shows that depositors shift from deposits into cash in both types of crises, which results in an increase in the interest rates on deposits and loans, and a contraction in output and consumption. However, when the crisis is resolved in a finite time period, there is an intertemporal substitution of consumption, and consumption is postponed until the crisis is resolved. This in turn results in a further decline in the demand for money, availability of credit and output.
Do Risk Premia Protect from Banking Crises?
Gersbach, H. & J. Wenzelburger (2005)
Private sector involvement in the resolution of financial crises: How do markets react?
Tillmann, P. (2005)
Globalization and Emerging Markets: With or Without Crash?
Martin, P. & H. Rey (2005)
Banking Sector Crisis and Inequality
Honohan, P. (2005)
Maturity Matches and Financial Crises: Evidence from Emerging Market Corporations
Bleakley, H. & K. Cowan (2005)
Synchronization of Financial Crises
Dungey, M., J.P.A.M. Jacobs & Lestano (2005)
The 35 Most Tumultuous Years in Monetary History: Shocks, the Transfer Problem, and Financial Trauma
Aliber, R.Z. (2005)
Banking Sector Strength and the Transmission of Currency Crises
Bruinshoofd, A., B. Candelon & K. Raabe (2005)
Trade Credit and Bank Credit: Evidence from Recent Financial Crises
Preve, L.A., I. Love & V. Sarria-Allende (2005)
Corporate bankruptcies and official bail-outs: A cost–benefit analysis
Kenca, T., A. Ozkanb & F.G. Ozkan (2005)
The Effect of Banking Crisis on Bank-Dependent Borrowers | Published
Chava, S. & A.K. Purnanandam (2005/10)
Cash-in-the-Market Pricing and Optimal Bank Bailout Policy
Acharya, V.V. & T. Yorulmazer (2005)
Financial crashes as endogenous jumps: estimation, testing and forecasting
Fernandes, M. (2005)
Crises and Capital Requirements in Banking
Morrison, Alan D.; White, Lucy (2005)
The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997
Bordo, M.D. & C.M. Meissner (2005)
Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises | Published
Calvo, G.A., A. Izquierdo & E. Talvi (2006)
Money and Modern Banking without Bank Runs
Skeie, D.R. (2006)
Abstract: In the literature, bank runs take the form of withdrawals of real demand deposits that deplete a fixed reserve of goods in the banking system. However, in a modern banking system, large withdrawals take the form of electronic payments that shift balances among banks within a clearinghouse system, with no analog of a depletion of a scarce reserve. In a model of nominal demand deposits repayable in money within a clearinghouse, the author shows that interbank lending and monetary prices imply that traditional bank runs do not occur. This finding suggests that deposit insurance may not be needed to prevent bank runs in a modern economy.
Flight to Quality and Collective Risk Management
Caballero, R. & A. Krishnamurthy (2006)
Banking Crises, Financial Dependence and Growth | Published
Kroszner, R.S., L.A. Laeven & D. Klingebiel (2006/07)
Inside the crisis: An empirical analysis of banking systems in distress
Demirgüç-Kunt, A., E. Detragiache & P. Gupta (2006)
Bank panics and the endogeneity of central banking
Gorton, G. & L. Huang (2006)
Distance-to-Default in Banking: A Bridge Too Far?
Chan-Lau, J.A. & A.N.R. Sy (2006)
Decomposing the effects of financial liberalization: Crises vs. growth
Ranciere, R., A. Tornell & F. Westermann (2006)
Can Good Events Lead to Bad Outcomes? Endogenous Banking Crises and Fiscal Policy Responses
Feltenstein, A. & C. Rochon (2006)
Trade credit and bank credit: Evidence from recent financial crises
Love, I., L.A. Preve & V. Sarria-Allende (2007)
A Cardan's discriminant approach to predicting currency crashes
Koh, S.K., W.M. Fong & F. Chan (2007)
Responding to Financial Crises
Frankel, J.A. (2007)
Exchange rate regimes, banking and the non-tradable sector
Kawamura, E. (2007)
Suspension of payments, bank failures, and the nonbank public's losses
Dwyer Jr., J.P. & I. Hasan (2007)
Fetters of Debt, Deposit, or Gold during the Great Depression? The International Propagation of the Banking Crisis of 1931
Richardson, G. & P. Van Horn (2007)
Crises and Growth: A Latin American Perspective
Edwards, S. (2007)
Re-Accessing International Capital Markets after Financial Crises: Some Empirical Evidence
Zanforlin, L. (2007)
Stiglitz Versus the IMF on the Asian Debt Crisis: An Intertemporal Model with Real Exchange Rate Overshooting
Kirsanova, T., G. Menzies & D. Vines (2007)
Emerging Market Liquidity and Crises
Levy Yeyati, E., S. Schmukler & N. Van Horen (2007)
Optimal Portfolio Liquidation for CARA Investors
Schied, A. & T. Schöneborn (2007)
The Everyday Social Sources of Economic Crises: From "Great Frustrations" to "Great Revelations" in Interwar Britain
Seabrooke, L. (2007)
Quantifying and understanding the economics of large financial movements
(2007)
Gabaix, X., P. Gopikrishnan, V. Plerou & H.E. Stanley (2007)
GDP at risk in a DSGE model: an application to banking sector stress testing
Jokivuolle, E., J. Kilponen & T. Kuusi (2008)
Financial Innovation, Macroeconomic Stability and Systemic Crises
Gai, P., S. Kapadia, S. Millard & A. Perez (2008)
This Time is Different: A Panoramic View of Eight Centuries of Financial Crises
Reinhart, C.M. & K.S. Rogoff (2008)
The Anatomy of Banking Crises | Published
Duttagupta, R. & P. Cashin (2008/11)
Reserve Requirements, the Maturity Structure of Debt, and Bank Runs
Al-Zein, Eza (2008)
Macroeconomic Crises since 1870
Barro, R.J. & J.F. Ursúa (2008)
Financial constraints on investment in an emerging market crisis
Blalock, G., P.J. Gertler & D.I. Levine (2008)
Liquidity runs with endogenous information acquisition
Zwart, S. (2008)
An Anatomy Of Credit Booms: Evidence From Macro Aggregates And Micro Data
Mendoza, E.G. & M.E. Terrones (2008)
Bank incentives, economic specialization, and financial crises in emerging economies
Gande, A., K. John & L.W. Senbet (2008)
Bank incentives, contract design and bank runs
Andolfatto, D. & E. Nosal (2008)
Injecting rational bubbles
Kocherlakota, N. (2008)
Bank runs, foreign exchange reserves and credibility: When size does not matter
Miller, V. (2008)
Systemic Banking Crises: A New Database
Laeven, L. & F. Valencia (2008)
A Model of Capital and Crises
He, Z. & A. Krishnamurthy (2008)
The Use of Blanket Guarantees in Banking Crises | Published
Laeven, L. & F. Valencia (2008/12)
Banks' Precautionary Capital and Credit Crunches
Valencia, F. (2008)
Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market
Khwaja, A.I. & A. Mian (2008)
Borrower runs
Bond, P. & A.S. Rai (2008)
The anatomy of financial crises: Evidence from the emerging ADR market
Pasquariello, P. (2008)
What Happens During Recessions, Crunches, and Busts? | Published
Claessens, S., M.A. Kose & M. Terrones (2008/10)
Banking Crises: An Equal Opportunity Menace | Published
Reinhart, C.M. & K.S. Rogoff (2008/13)
Deciphering the Liquidity and Credit Crunch 2007-08
Brunnermeier, M.K. (2008)
Financial Globalization and Banking Crises in Emerging Markets
Joyce, J.P. (2008)
Banking regulation and the output cost of banking crises
Angkinand, A.P. (2008)
Banking industry volatility and banking crises
Moshirian, F. & Q. Wu (2008)
The Aftermath of Financial Crises
Reinhart, C.M. & K.S. Rogoff (2009)
External constraint and financial crises with balance sheet effects
Dai, M. (2009)
Fiscal Trends and Self-Fulfilling Crises
Doblas-Madrid, A. (2009)
Deleveraging After Lehman--Evidence from Reduced Rehypothecation
Singh, M. & J. Aitken (2009)
Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation
Aizenman, J. & G.K. Pasricha (2009)
The Revenge of Purchasing Power Parity on Carry Trades during Crises
Brière, M. & B. Drut (2009)
The Crisis: Basic Mechanisms and Appropriate Policies
Blanchard, O.J. (2009)
Complexity and Financial Panics
Caballero, R.J. & A. Simsek (2009)
Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
Obstfeld, M., J.C. Shambaugh & A.M. Taylor (2009)
Information, Liquidity, and the (Ongoing) Panic of 2007
Gorton, G. (2009)
Is Monetary Policy Effective during Financial Crises?
Mishkin, F.S. (2009)
The Credit Crisis: Conjectures about Causes and Remedies
Diamond, D.W. & R.G. Rajan (2009)
A Model of a Systemic Bank Run | Published
Uhlig, H. (2009/10)
Bank runs as coordination failures: An experimental study
Garratt, R. & T. Keister (2009)
Risk Allocation, Debt Fueled Expansion and Financial Crisis
Beaudry, P. & A. Lahiri (2009)
Banking Crises and Crisis Dating: Theory and Evidence
Boyd, J.H., G. De Nicoló & E. Loukoianova (2009)
Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts | Published
Farhi, E. & J. Tirole (2009/12)
The Impact of Credit Protection on Stock Prices in the Presence of Credit Crunches
Hale, G., A. Razin & H. Tong (2009)
The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds
Cassola, N., A. Hortacsu & J. Kastl (2009)
How Effective is Fiscal Policy Response in Systemic Banking Crises?
Baldacci, E., S. Gupta & C. Mulas-Granados (2009)
A Monetary Model of Banking Crises
Kobayashi, K. (2009)
Securitized Banking and the Run on Repo | Published
Gorton, G.B. & A. Metrick (2009/12)
Banking crises and exports: lessons from the past |
Iacovone, L. & V. Zavacka (2009/19)
Haircuts
Gorton, G.B. & A. Metrick (2009)
When Everyone Runs for the Exit
Pedersen, L.H. (2009)
Bank Runs and Institutions: The Perils of Intervention
Ennis, H.M. & T. Keister (2009)
Credit Crises, Money and Contractions: an historical view | Published
Bordo, M.D. & J.G. Haubrich (2009/10)
Accounting Discretion of Banks During a Financial Crisis | Published
Huizinga, H. & L. Laeven (2009/12)
Growth After the Crisis
Rodrik, D. (2009)
Banking Crises and the Rules of the Game
Calomiris, C. (2009)
Optimal taxation in the presence of bailouts | Published
Panageas, S. (2009/10)
Crises and Liquidity in Over-the-Counter Markets | Published
Lagos, R., G. Rocheteau & P-O. Weill (2009/11)
Financial Crises and Economic Activity
Cecchetti, S.G., M. Kohler & C. Upper (2009)
Predicting recoveries and the importance of using enough information
Cai, X. & W. Den Haan (2009)
The Global Financial Crisis and Offshore Dollar Markets
Coffey, N., W.B. Hrung, H-L. Nguyen & A. Sarkar (2009)
Efficient Recapitalization
Philippon, T. & P. Schnabl (2009)
Gini’s Transvariation Analysis: An Application on Financial Crises in Developing Countries
Bragoli, D., P. Ganugi & G. Ianulardo (2009)
What's the Damage? Medium-term Output Dynamics After Banking Crises
Abiad, A., R. Balakrishnan, P. Koeva Brooks, D. Leigh & I. Tytell (2009)
Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008 | Published
Schularick, M. & A.M. Taylor (2009/12)
Trade Finance in a Liquidity Crisis
Ellingsen, T. & J. Vlachos (2009)
The Heavenly Liquidity Twin: The Increasing Importance of Liquidity Risk
Montes-Negret, F. (2009)
Are Financial Crises Alike?
Dungey, M., R. Fry, B. González-Hermosillo, V. Martin & C. Tang (2010)
Financial crisis, exchange rate and stock market integration
Yoshida, Y. (2009)
Credit Crunch in a Small Open Economy
Brzoza-Brzezina, M. & K. Makarski (2009)
Deposit insurance and money market freezes
Bruche, M. & J. Suarez (2010)
Responding to Banking Crises: Lessons from Cross-Country Evidence
Detragiache, E. & G. Ho (2010)
Bailouts, the incentive to manage risk, and financial crises
Panageas, S. (2010)
Recovery Determinants of Distressed Banks: Regulators, Market Discipline, or the Environment?
Koetter, M., T. Kick & T. Poghosyan (2010)
The lender of last resort: liquidity provision versus the possibility of bail-out
Eijffinger, S.C.W. & R. Nijskens (2010)
How Debt Markets Have Malfunctioned in the Crisis
Krishnamurthy, A. (2010)
When Safe Proved Risky: Commercial Paper during the Financial Crisis of 2007-2009
Kacperczyk, M. & P. Schnabl (2010)
The Failure Mechanics of Dealer Banks
Duffie, D. (2010)
Credit Default Swaps and the Credit Crisis
Stulz, R.M. (2010)
Did Fair-Value Accounting Contribute to the Financial Crisis?
Laux, C. & C. Leuz (2010)
Central Bank Dollar Swap Lines and Overseas Dollar Funding Costs
Goldberg, L.S., C. Kennedy & J. Miu (2010)
Lessons and Policy Implications from the Global Financial Crisis
Claessens, S., G. Dell'Ariccia, D. Igan & L. Laeven (2010)
This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises
Reinhart, C.M. (2010)
Abstract: This Chartbook provides a pictorial history, on a country-by-country basis, of public debt and economic crises of various forms. It is a timeline of a countrys creditworthiness and financial turmoil. The analysis, narrative, and illustrations in Reinhart and Rogoff (2009), This Time is Different: Eight Centuries of Financial Folly, were primarily organized around themes (serial default, inflation, etc.), although detailed tables in the book chronicled country-specific information on the dating, frequency, incidence, etc. of specific crises episodes by country. The Chartbook compliments the thematic analysis with individual country histories, and provides the grounds for a systematic analysis of the temporal patterns of debt cycles, banking and sovereign debt crises, hyperinflation, and, for the post World War II period, the reliance on IMF programs.
Optimal Interventions in Markets with Adverse Selection
Philippon, T. & V. Skreta (2010)
Credit Conditions and Recoveries from Recessions Associated with Financial Crises | Published
Kannan, P. (2010/12)
The role of household and business credit in banking crises
Büyükkarabacak, B. & N.T. Valev (2010)
The intraday interest rate under a liquidity crisis: The case of August 2007
Baglioni, A. & A. Monticini (2010)
Financial crises and interacting heterogeneous agents
Huang, W., H. Zheng & W-M. Chia (2010)
Gold and the U.S. Dollar: Tales from the Turmoil
Marzo, M. & P. Zagaglia (2010)
Repo runs
Martin, M., D. Skeie & E-L. von Thadden (2010)
Banking crises, Output Loss and Fiscal Policy
Röger, W., I. Székely & A.A. Turrini (2010)
Banking panics and policy responses
Ennis, H.M. & T. Keister (2010)
Could making banks hold only liquid assets induce bank runs?
Peck, P. & K. Shell (2010)
Liquidity problems in the FX liquid market: Ask for the "BIL"
Borgy, V., I. Idier & G. Le Fol (2010)
Self-Fulfilling Credit Market Freezes
Bebchuk, L.A. & I. Goldstein (2010)
Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis
Frankel, J.A. & G. Saravelos (2010)
Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets
Chari, V.V., A. Shourideh & A. Zetlin-Jones (2010)
Resolution of Banking Crises: The Good, the Bad, and the Ugly
Laeven, L. & F. Valencia (2010)
Overborrowing, Financial Crises and 'Macro-prudential' Taxes | Optimal Time-Consistent Macroprudential Policy | Published
Bianchi, J. & E.G. Mendoza (2010/14/18)
Banking Crises and Short and Medium Term Output Losses in Developing Countries: The Role of Structural and Policy Variables | Published
Furceri, D. & A. Zdzienicka (2010/12)
Portfolio manager behavior and global financial crises
Feldman, T. (2010)
Self-Fulfilling Risk Panics
Bacchetta, P., C. Tille & E. van Wincoop (2010)
Managing Markets for Toxic Assets
House, C.L. & Y. Masatlioglu (2010)
Is the Distance to Default a Good Measure in Predicting Bank Failures? Case Studies
Harada, K., T. Ito & S. Takahashi (2010)
Amplification Mechanisms in Liquidity Crises
Krishnamurthy, A. (2010)
Self-Fulfilling Risk Panics
Bacchetta, P., C. Tille & E. van Wincoop (2010)
The Impact of Financial Crises on Trade Flows: A Developing Country Perspective
Macias, J.B., I. Massa & M.J. Salois (2010)
Maturity mismatch and financial crises: Evidence from emerging market corporations
Bleakley, H. & K. Cowan (2010)
Are Banks Too Big to Fail or Too Big to Save? International Evidence from Equity Prices and CDS Spreads
Demirguc-Kunt, A. & H. Huizinga (2010)
The size of banking crises in credible fixed exchange rate regimes
Miller, V. & L. Vallée (2010)
Restoring Debt Sustainability After Crises: Implications for the Fiscal Mix
Baldacci, E., S. Gupta & C. Mulas-Granados (2010)
Larger crises cost more: Impact of banking sector instability on output growth
Serwa, D. (2010)
What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks? | Published
Kalemli-Ozcan, S., H. Kamil & C. Villegas-Sanchez (2010/16)
Inequality, Leverage and Crises | Published
Kumhof, M., R. Ranciere & P. Winant (2010/15)
Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons
Jorda, O., M. Schularick & A.M. Taylor (2010)
How Does Trade Evolve in the Aftermath of Financial Crises?
Abiad, A., P. Mishra & P. Topalova (2010)
The term structure of banking crisis risk in the United States: A market data based compound option approach
Eichler, S., A. Karmann & D. Maltritz (2011)
Currency and Financial Crises of the 1990s and 2000s
Razin, A. & S. Rosefielde (2011)
The Real Effects of Financial Sector Interventions During Crises
Laeven, L. & F. Valencia (2011)
Creditless Recoveries
Abiad, A., G. Dell'Ariccia & B. Li (2011)
A Bad-Asset Theory of Financial Crises
Kobayashi, K. (2011)
Leverage as a Predictor for Real Activity and Volatility
Kollmann, R. & S. Zeugner (2011)
Where It All Began: Lending of Last Resort and the Bank of England during the Overend, Gurney Panic of 1866
Flandreau, M. & S. Ugolini (2011)
The Diamond-Rajan Bank Runs in a Production Economy
Kobayashi, K. (2011)
Time series analysis for financial market meltdowns
Kim, Y.S., S.T. Rachev, M.L. Bianchi, I. Mitov & F.J. Fabozzi (2011)
Global Liquidity: Availability of Funds for Safe and Risky Assets
Matsumoto, A. (2011)
Credit Ratings and Security Prices in the Subprime MBS Market
Ashcraft, A., P. Goldsmith-Pinkham, P. Hull & J. Vickery (2011)
Credit Ratings and the Evolution of the Mortgage-Backed Securities Market
He, J., J. Qian & P.E. Strahan (2011)
Why Does the Economy Fall to Pieces after a Financial Crisis?
Hall, R.E. (2011)
Illiquidity and All Its Friends
Tirole, J. (2011)
Government, taxes and banking crises
Hasman, A., A.L. López & M. Samartin (2011)
Stories of the Twentieth Century for the Twenty-First | Published
Gourinchas, P-O. & M. Obstfeld (2011/12)
The Bright and the Dark Side of Cross-Border Banking Linkages
Cihák, M. & S. Muñoz (2011)
Repo Runs: Evidence from the Tri-Party Repo Market
Copeland, A., A. Martin & M. Walker (2011)
Bailout Uncertainty in a Microfounded General Equilibrium Model of the Financial System | Published
Cukierman, A. & Y. Izhakian (2011/15)
House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis
Mian, A. & A. Sufi (2011)
International Financial Crises and the Multilateral Response: What the Historical Record Shows
Barkbu, B., B. Eichengreen & A. Mody (2011)
On the impact of fundamentals, liquidity, and coordination on market stability
Daníelsson, J. & F. Peñaranda (2011)
Banking Flows and Financial Crisis—Financial Interconnectedness and, Basel III Effects
Ghosh, S.R., N. Sugawara & J. Zalduendo (2011)
Do Phoenix Miracles Exist? Firm-Level Evidence from Financial Crises
Ayyagari, M., A. Demirguc-Kunt & V. Maksimovic (2011)
Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
Benmelech, E. & E. Dvir (2011)
Financial Sector Ups and Downs and the Real Sector: Big Hindrance, Little Help
Aizenman, J., B. Pinto & V. Sushko (2011)
Financial Flows, Financial Crises, and Global Imbalances
Obstfeld, M. (2011)
Complementing Bagehot: Illiquidity and insolvency resolution
Eijffinger, S.C.W. & R. Nijskens (2011)
The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis
Sandleris, G. & M.L.J. Wright (2011)
Contingent convertibles. Solving or seeding the next banking crisis?
Koziol, C. & J. Lawrenz (2011)
Financial crises in efficient markets: How fundamentalists fuel volatility
Szafarz, A. (2011)
When bigger isn't better: bailouts and bank behavior
Li, H.H., M. Miller & L. Zhang (2011)
Crises, rescues, and policy transmission through international banks
Buch, C.M.. C.T. Koch & M. Koetter (2011)
Incentives to innovate and financial crises
Thakor, A.V. (2011)
What is really common in the run-up to banking crises?
Roy, S. & D.M. Kemme (2011)
Private sector risk and financial crises in emerging markets
Daniel, B.C. (2011)
When Credit Bites Back: Leverage, Business Cycles, and Crises
Jorda, O., M.H.P. Schularick & A.M. Taylor (2011)
Credit Crises, Precautionary Savings, and the Liquidity Trap | Published
Guerrieri, V. & G. Lorenzoni (2011/17)
The impact of financial crises and tolerance for uncertainty
Inklaar, R. & J. Yang (2012)
Aggregate Implications of a Credit Crunch | Published
Buera, F.J. & B. Moll (2011/15)
Liquidity when it matters: QE and Tobin’s q
Driffill, J. & M. Miller (2011)
Fiscal Policy in a Financial Crisis: Standard Policy vs. Bank Rescue Measures
Kollmann, R., W. Roeger & J. in't Veld (2012)
Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates
Matvos, G. & A. Seru (2012)
Fiscal Policy in a Financial Crisis: Standard Policy vs. Bank Rescue Measures
Kollmann, R., R. Werner & J. in't Veld (2011)
Financial flows, financial crises, and global imbalances
Obstfeld, M. (2012)
The flight home effect: Evidence from the syndicated loan market during financial crises
Giannetti, M. & L. Laeven (2012)
Tranching, CDS, and Asset Prices: How Financial Innovation Can Cause Bubbles and Crashes
Fostel, A. & J. Geanakoplos (2012)
Abstract: We show how the timing of financial innovation might have contributed to the mortgage bubble and then to the crash of 2007-2009. We show why tranching and leverage first raised asset prices and why CDS lowered them afterward. This may seem puzzling, since it implies that creating a derivative tranche in the securitization whose payoffs are identical to the CDS will raise the underlying asset price, while the CDS outside the securitization lowers it. The resolution of the puzzle is that the CDS lowers the value of the underlying asset since it is equivalent to tranching cash.
Financial crises and liquidity shocks a bank-run perspective
Calvo, G. (2012)
Getting Up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
SURVEY PAPER
Reading about the Financial Crisis: A Twenty-One-Book Review
SURVEY PAPER
Optimal banking contracts and financial fragility
Efficient Bailouts? | Published
Financial Frictions and Total Factor Productivity: Accounting for the Real Effects of Financial Crises | Published
Fire-Sale FDI? The Impact of Financial Crisis on Foreign Direct Investment
Liquidity Hoarding
Financial crises and regime-dependent dynamics
Illiquidity or credit deterioration: A study of liquidity in the US corporate bond market during financial crises
Rollover risk, network structure and systemic financial crises
Global Banks and Crisis Transmission | Published
What causes banking crises? An empirical investigation
Do Surges in International Capital Inflows Influence the Likelihood of Banking Crises? Cross-Country Evidence on Bonanzas in Capital Inflows and Bonanza-Boom- Bust Cycles | Published
Financial crisis and extreme market risks: Evidence from Europe
Financial Crisis Resolution
A bank runs model with a continuum of types
Systemic Banking Crises Database: An Update
Monetary policy under financial uncertainty
Circuit Theory Extended: The Role of Speculation in Crises
Models of Speculative Attacks and Crashes in International Capital Markets
Do Social Networks Prevent Bank Runs? | Published
Reserve Accumulation, Growth and Financial Crises
Runs, Panics and Bubbles: Diamond Dybvig and Morris Shin Reconsidered
Financial crisis, structure and reform
Fiscal Policy, Banks and the Financial Crisis
Liquidity, Monetary Policy, and the Financial Crisis: A New Monetarist Approach
Individual investor perceptions and behavior during the financial crisis
Macroeconomic Adjustment and the History of Crises in Open Economies
Credit Shocks Harm the Unprepared - Financing Constraints and the Financial Crisis
Self-fulfilling credit cycles | Published
Understanding Bank Runs: The Importance of Depositor-Bank Relationships and Networks
Credit information sharing and banking crises: An empirical investigation
The effect of financial crises on potential output: New empirical evidence from OECD countries
Asymmetric Information in Credit Markets, Bank Leverage Cycles and Macroeconomic Dynamics
The Role of Consumer Leverage in Generating Financial Crises
Market concentration and the likelihood of financial crises
On the Real Effects of Bank Bailouts: Micro Evidence from Japan
A Model of Moral-Hazard Credit Cycles
Review of Theories of Financial Crises
SURVEY PAPER
Macroprudential Regulation Versus Mopping Up After the Crash | Published
TFP during a credit crunch
Sunspot bank runs in competitive versus monopolistic banking systems
Rescue packages and bank lending
Financial Crises Explanations, Types, and Implications
SURVEY PAPER
The effects of financial crisis on fiscal positions
Predicting financial crises: the (statistical) significance of the signals approach
The Real Effect of Banking Crises: Finance or Asset Allocation Effects? Some International Evidence
Speculative Runs on Interest Rate Pegs | Published
IMF Lending and Banking Crises
Understanding Financial Crises: Causes, Consequences, and Policy Responses
Equilibrium Unemployment during Financial Crises
Does inequality lead to a financial crisis?
How central banks prepare for financial crises - An empirical analysis of the effects of crises and globalisation on international reserves
The Macroeconomics of Modigliani-Miller
The Consequences of Banking Crises for Public Debt
Balance Sheet Strength and Bank Lending During the Global Financial Crisis
Market liquidity in the financial crisis: The role of liquidity commonality and flight-to-quality
External Liabilities and Crises | Published
Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare
Credit and growth after financial crises
Rapid Credit Growth and Current Account Deficit as the Leading Determinants of Financial Crises
Banking, Liquidity and Bank Runs in an Infinite-Horizon Economy | Published
Experimental evidence of bank runs as pure coordination failures
A macroeconomic model of liquidity crises
Bank leverage cycles | Published
Booms and systemic banking crises
Post-mortem examination of the international financial network
Financial crisis risk, ECB "non-standard" measures, and the external value of the euro
Trust and Financial Crisis Experiences
How do global banks scramble for liquidity? Evidence from the asset-backed commercial paper freeze of 2007
Relationship and Transaction Lending in a Crisis | Published
Credit Crunches as Markov Equilibria
Leveraged borrowing and boom-bust cycles
A Model of Slow Recoveries from Financial Crises | Published
Abstract: This paper documents highly persistent effects of financial crises on output, labor productivity and employment in a sample of emerging economies. To address these facts, it introduces a quantitative macroeconomic model that includes endogenous TFP growth through firm creation. Firm creators obtain funding from a financial intermediation sector which is subject to frictions. These frictions become especially severe in a financial crisis, increasing the cost of credit for firm creators and thereby lowering the growth rate of aggregate TFP. As a consequence, the model produces medium-run dynamics following crises that are in line with the data.
Efficient Financial Crises
Recessions, growth and banking crises
Managing Financial Crises: Lean or Clean?
Banking crises, labor reforms, and unemployment
On the welfare equivalence of asset markets and banking in Diamond Dybvig economies
Financial Crises and Economic Growth
Inequality, Leverage and Crises: The Case of Endogenous Default
Does Financial Connectedness Predict Crises?
Vulnerability, Crises and Debt Maturity: Do IMF Interventions Increase Reliance on Short-Term Debt?
Banking, Liquidity and Bank Runs in an Infinite Horizon Economy
Optimal Diamond-Dybvig mechanism in large economies with aggregate uncertainty
What factors drive systemic risk during international financial crises?
Systemic risk and bank consolidation: International evidence
Recovery from Financial Crises: Evidence from 100 Episodes
Financial Crises and Exchange Rate Policy | Published
Social Implications of Fiscal Policy Responses During Crises
Crises and Confidence: Systemic Banking Crises and Depositor Behavior
Collateral Crises
Leverage, Default, and Forgiveness: Lessons from the American and European Crises
Anatomy of a Credit Crunch: From Capital to Labor Markets
Financial Crises in DSGE Models: Selected Applications of MAPMOD
Financial Crises in DSGE Models: A Prototype Model
Correlated Bank Runs, Interbank Markets and Reserve Requirements
The Flight from Maturity
Monetary Policy in a Downturn: Are Financial Crises Special?
Reserve Accumulation and Financial Crises: From Individual Protection to Systemic Risk
A theoretical model of bank lending: Does ownership matter in times of crises?
Liquidity, Leverage, and Lehman: A Structural Analysis of Financial Institutions in Crisis
Credit booms, banking crises, and the current account
Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops | Published
House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again
Abstract: The Great American Recession resulted in the loss of eight million jobs between 2007 and 2009. More than four million homes were lost to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession-that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as the current economic malaise in Europe, were caused by a large run-up in household debt followed by a significantly large drop in household spending.
How does macroprudential regulation change bank credit supply?
The Effect of Ecuador's 1999 Economic Crisis on Early Childhood Development
Gates, Fees, and Preemptive Runs
Equilibrium Bank Runs Revisited
Determinants of stock returns: Factors or systematic co-moments? Crisis versus non-crisis periods
Accounting for Crises
Financial liberalization, disaggregated capital flows and banking crisis: Evidence from developing countries
Bank Risk Within and Across Equilibria
The effect of the financial crisis on TFP growth: a general equilibrium approach
Drivers of Systemic Banking Crises: The Role of Financial Account Structure and Financial Integration
Banking crises: Identifying dates and determinants
Preventing bank runs
The risk of financial crises: Is it in real or financial factors? | Published
Determinants of the real impact of banking crises: A review and new evidence
Banking crises and sovereign defaults in emerging markets: exploring the links
How to foresee banking crises? A survey of the empirical literature
The Great Mortgaging: Housing Finance, Crises, and Business Cycles
Financial crises and the composition of cross-border lending | Published
Financial Business Cycles
Bank lending procyclicality and credit quality during financial crises
Too Correlated to Fail
Banking risk and macroeconomic fluctuations
Time to produce and emerging market crises
Financial globalization or great financial expansion? The impact of capital flows on credit and banking crises
Liquidity Traps and Monetary Policy: Managing a Credit Crunch | Published
The financial meltdown: a model with endogenous default probability
Cross-hedging strategies between CDS spreads and option volatility during crises
Endogenous Uncertainty and Credit Crunches
Debt-Overhang Banking Crises
Financial globalization or great financial expansion? The impact of capital flows on credit and banking crises
Banks, Capital Flows and Financial Crises
Systematic Bailout Guarantees and Tacit Coordination
Correlated observations, the law of small numbers and bank runs
A network view on interbank market freezes
Banking panics and protracted recessions
Financial Crises and Systemic Bank Runs in a Dynamic Model of Banking
A Note on Banking and Housing Crises and the Strength of Recoveries
Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries | Published
Curbing The Credit Cycle
Banking crises and financial integration: Insights from networks science
IMF Lending and Banking Crises
Post-Crisis Slow Recovery and Monetary Policy
Bank competition and crises revisited: New results
Rare Events, Financial Crises, and the Cross-Section of Asset Returns
New Evidence on the Impact of Financial Crises in Advanced Countries
The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the United States in the 1920s
Cross-border resolution of global banks
Banking crises and the lender of last resort: How crucial is the role of information?
Are Foreign Banks a 'Safe Haven'? Evidence from Past Banking Crises
International Financial Shocks in Emerging Markets
Banking panics and deflation in dynamic general equilibrium
Private Sector Deleveraging and Growth Following Busts
The effects of systemic banking crises in the inter-war period
An Assessment of TARP Assistance to Financial Institutions
Legal, Political, and Institutional Constraints on the Financial Crisis Policy Response
The Dynamics of Business Investment Following Banking Crises and Normal Recessions
Assessing emerging markets' vulnerability to financial crisis
The finance-growth nexus in crisis
Securities Transactions Taxes and Financial Crises
The impact of financial crises on the risk-return tradeoff and the leverage effect
A New History of Banking Panics in the United States, 1825-1929: Construction and Implications
Fire-Sale FDI or Business as Usual?
Financialization and the Financial and Economic Crises: The Case of Greece
Capital stock management during a recession that freezes credit markets
The Antecedents and Aftermath of Financial Crises as told by Carlos F. Diaz Alejandro
Too Unexpected to Fail: Bail-Out Policy and Sudden Freezes
From Systemic Banking Crises to Fiscal Costs: Risk Factors
Economic Effects of Runs on Early "Shadow Banks": Trust Companies and the Impact of the Panic of 1907
Financial Crises and Labor: Does Tight Money Loosen Labor Rights?
Why are bank runs sometimes partial?
Bank Sovereign Bond Holdings, Sovereign Shock Spillovers, and Moral Hazard durning the European Crisis
Identifying banking crises using money market pressure: New evidence for a large set of countries
How does financial market structure affect the impact of a banking crisis?
Characterising the financial cycle: a multivariate and time-varying approach
Are Islamic Banks More Resilient during Financial Panics?
Capital Unemployment, Financial Shocks, and Investment Slumps
Inequality Indebtedness and Financial Crises
Shadow economies at times of banking crises: Empirics and theory
Bank runs and self-insured bank deposits
Bank Profitability and Risk-Taking
Financial crises, unconventional monetary policy exit strategies, and agents? expectations
Credit booms, financial fragility and banking crises
Selling Failed Banks
Credit supply disruptions: from credit crunches to financial crisis
Insecure debt
Saving and the long shadow of macroeconomic shocks
Identifying early warning indicators for real estate-related banking crises
Global banking, global crises? The role of the bank balance-sheet channel for the transmission of financial crises
The Persistence of a Banking Crisis
How Central Banks End Crises
Double Bank Runs and Liquidity Risk Management | Published
Financial crisis begets financial reform? The origin of the crisis matters
Bureaucratic corruption and the dynamic interaction between monetary and fiscal policy
Political economy of fiscal unions
Financialisation and crisis in an agent based macroeconomic model
Financial Cycles and Fiscal Cycles
What do we Learn from the Financial Flows of the 2008-2009 Crisis?
On Zombie Banks and Recessions after Systemic Banking Crises
Financial liberalization, insurance market, and the likelihood of financial crises
Banking Crisis, Moral Hazard and Fiscal Policy Responses
Good Booms, Bad Booms | Published
Do Surges in International Capital Inflows Influence the Likelihood of Banking Crises?
Booms and Banking Crises
How Did Pre-Fed Banking Panics End?
The early warnings of banking crises: Interaction of broad liquidity and demand deposits
Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises
Labour reallocation and productivity dynamics: financial causes, real consequences
The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles
Corporate Resilience to Banking Crises: The Roles of Trust and Trade Credit | Published
Can a bank run be stopped? Government guarantees and the run on Continental Illinois
Inequality and Financial Fragility | Published
Predicting bank failures: The leverage versus the risk-weighted capital ratio
A Blessing in Disguise? Banking Crises and Institutional Change
CEO overconfidence and financial crisis: Evidence from bank lending and leverage
Bank opacity and financial crises
Breaking the spell with credit-easing: self-confirming credit crises in competitive search economies | Published
Too-Big-to-Fail before the Fed
Long Term Debt and Credit Crisis in a Liquidity Constrained Economy
Expectations vs. fundamentals-driven bank runs: When should bailouts be permitted?
Reallocation effects of recessions and financial crises: an industry-level analysis
Taming the Basel leverage cycle
Does one size fit all at all times? The role of country specificities and state dependencies in predicting banking crises
Leverage dynamics and the burden of debt
On the Economics of Crisis Contracts
Financial Crises and the Role of Debt Maturity for Emerging Economies
A Quantitative Model of "Too Big to Fail,"' House Prices, and the Financial Crisis
Saving Wall Street or main street
The Aftermath of Financial Crises: A Look on Human and Social Wellbeing
A National Wealth Approach to Banking Crises and Financial Stability
Anticipated Banking Panics
Credit market competition and liquidity crises | Published
Runs on Money Market Mutual Funds
Bank fundamentals, economic conditions, and bank failures in East Asian countries
Crises and rescues: liquidity transmission through international banks
Liquidity Runs
Asset Price Support Policy During Crises: How Aggressive Should it Be?
Self-Fulfilling and Fundamentals Based Speculative Attacks: A Theoretical Interpretation of the Euro Area Crisis
Optimal Bailout of Systemic Banks
Hoarding and short-squeezing in times of crisis: Evidence from the Euro overnight money market
External Liabilities, Domestic Institutions and Banking Crises in Developing Economies | Published
Banks Interconnectivity and Leverage
Credit Expansion and Neglected Crash Risk
Endogenous Growth, Firm Heterogeneity and the Long-run Impact of Financial Crises | Published
Firm's precautionary savings and employment during a credit crisis | Published
Financial crises, limited asset market participation, and banks balance sheet constraints
Fighting Crises
What determines output losses after banking crises?
Credit Spreads, Financial Crises, and Macroprudential Policy | Published
Fire buys of central bank collateral assets
Lending Relationships, Banking Crises and Optimal Monetary Policies
Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime Switching Approach | Alternative
What explains the speed of recovery from banking crises?
Banking business models and the nature of financial crisis
Productivity during recessions with banking crises: Inter-Industry evidence
Banking Crises and the Performance of MIFs
Global Booms, Domestic Busts: The Global Dimension of Banking Crise
Pandemic crises in financial systems: a simulation-model to complement stress-testing frameworks
Economic freedom and crashes in financial markets
Search for Yield
Excessive Private Sector Leverage and Its Drivers: Evidence from Advanced Economies
Monetary easing and financial instability
Bank Panics and Scale Economies
Countercyclicality of financial crisis interventions in an open economy with credit constraint
Financial Integration and Liquidity Crises
Flight to liquidity and systemic bank runs
Do Demand or Supply Factors Drive Bank Credit, in Good and Crisis Times?
Bank sectoral concentration and (systemic) risk: Evidence from a worldwide sample of banks
The fiscal costs of systemic banking crises
Early warning models of banking crises applicable to non-crisis countries
Financial Crises and Risk Premia
Speculator-triggered crisis and interventions
Origins of Too-Big-to-Fail Policy
Panic bank runs | Published
Credit Market Freezes
Capital inflow-terms of trade 'nexus': Does it lead to financial crisis?
A Price-Differentiation Model of the Interbank Market and Its Application to a Financial Crisis
Liquidity shocks, business cycles and asset prices
Assessing the robustness of the relationship between financial reforms and banking crises
Resolution of financial distress under agency frictions
When Gambling for Resurrection is Too Risky
Bank Panics with Scale Economies
Fiscal Multipliers and Financial Crises
Catching the mirage: The shadow impact of financial crises
Determinants of Repo Haircuts and Bankruptcy
Competition and Bank Fragility
Interest rates and financial fragility
Burning Money? Government Lending in a Credit Crunch
Banking Panics and Output Dynamics | Published
When Prime Depositors Run on the Banks: A Behavioral Approach
New Evidence on the Aftermath of Financial Crises in Advanced Countries
Capital Requirements and Bailouts
How Credit Cycles across a Financial Crisis
Flight to What?---Dissecting Liquidity Shortage in Financial Crisis
Credit crunches from occasionally binding bank borrowing constraints
Bank Acquisitiveness and Financial Crisis Vulnerability
Banking Panics and Liquidity in a Monetary Economy
Historical Patterns of Inequality and Productivity around Financial Crises
A Macroeconomic Model with Occasional Financial Crises | Published
Undermined market discipline: The role of bank rescues and bailout expectations | Published
Bank Capital Regulation in a Model of Modern Banking Crises
Towards an understanding of credit cycles: do all credit booms cause crises?
The impact of liquidity crises on cash flow sensitivities
Financial Crises and Lending of Last Resort in Open Economies
Financial Crises, Bank Lending, and Trade Credit: Evidence from Chinese Enterprises
Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and its Policy Implications
Bank run psychology
Financial Development, Growth, and Crisis: Is There a Trade-Off?
SURVEY PAPER
An Equilibrium Search Model of Fire Sales
The Macroeconomic Impact of Money Market Freezes
A Dual Early Warning Model of Bank Distress | >Published
Regulation, financial crises, and liberalization traps
A Model to Assess the Probabilities of Growth, Fiscal, and Financial Crises
A Macroeconomic Model with Financial Panics
Does Size Matter? Bailouts with Large and Small Banks
The Welfare Costs of Self-Fulfilling Bank Runs
To Be Bailed Out or To Be Left to Fail? A Dynamic Competing Risks Hazard Analysis
A macro approach to international bank resolution
Foreign booms, domestic busts: The global dimension of banking crises
Income Inequality, Financial Crises and Monetary Policy
Bank efficiency and industry growth during financial crises
How Much Do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
Market Illiquidity, Credit Freezes and Endogenous Funding Constraints
Bank liquidity and the cost of debt
Collateral Damage
Shadow Bank run: The Story of a Recession
Financial Crisis, Monetary Base Expansion and Risk
Testing for self-excitation in jumps
Disentangling the Effects of a Banking Crisis: Evidence from German Firms and Counties
Is Credit Easing Viable in Emerging and Developing Economies? An Empirical Approach
The objective function of government-controlled banks in a financial crisis
Forecasts in Times of Crises
Financial Development, Growth, and Crisis: Is There a Trade-Off?
Financial Crises, Macroeconomic Shocks, and the Government Balance Sheet: A Panel Analysis
Interbank market turmoils and the macroeconomy
Credit crunches, individual heterogeneity and the labor wedge
Geographic diversification and bank lending during crises | Published
Does income inequality lead to banking crises in developing countries? Empirical evidence from cross-country panel data
Policy uncertainty and bank bailouts
Learning from History: Volatility and Financial Crises
What Macroeconomic Conditions Lead Financial Crises? | Published
Commodity Price Movements and Banking Crises
Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks
Commodity Price Movements and Banking Crises
Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks
The Run on Repo and the Fed's Response
Bank runs, prudential tools and social welfare in a global game general equilibrium model
Learning Financial Shocks and the Great Recession | Published
Cross-border spillovers of monetary policy: what changes during a financial crisis?
Bank runs without sequential service
Banks and liquidity crises in emerging market economies
Managing stigma during a financial crisis
Systemic Banking Crises Revisited
Net External Position, Financial Development, and Banking Crisis
Private Money Creation, Liquidity Crises, and Government Intervention
Diversification and Systemic Bank Runs
Commodity market based hedging against stock market risk in times of financial crisis: The case of crude oil and gold
A Model of Endogenous Loan Quality and the Collapse of the Shadow Banking System
The Morning After--The Impact on Collateral Supply After a Major Default
Refinancing Risk and Debt Maturity Choice during a Financial Crisis
Gambling Traps
Bank Runs and Asset Price Collapses
Overconfidence and Bailouts
Financial Intermediation, Capital Accumulation and Crisis Recovery
Contractual imperfections and the impact of crises on trade: Evidence from industry-level data
1930: First Modern Crisis
Financial sector bailouts, sovereign bailouts, and the transfer of credit risk
Banking Panics and the Lender of Last Resort in a Monetary Economy
Banking Crises in Developing Countries-What Crucial Role of Exchange Rate Stability and External Liabilities?
Fighting Financial Crises: Learning from the Past
Abstract: If you’ve got some money in the bank, chances are you’ve never seriously worried about not being able to withdraw it. But there was a time in the United States, an era that ended just over a hundred years ago, in which bank customers had to pay close attention to whether the banking system would remain solvent, knowing they might have to rush to retrieve their savings before the bank collapsed. During the National Banking Era (1863–1913), before the establishment of the Federal Reserve, widespread banking panics were indeed rather common. Yet these pre-Fed banking panics bear striking similarities to our recent financial crisis. In both cases, something happened to make depositors--whether individual customers or corporate investors--“act differently” and find reason to question the value of their bank debt. Fighting Financial Crises thus turns to the past for a fuller understanding of our uncertain present, investigating how panics during the National Banking Era played out and how they were eventually quelled and prevented. Gorton and Tallman open with a survey of the period’s “information environment,” tracing the development of national bank notes, checks, and clearing houses to show how the key to keeping order was to disseminate information very carefully. Identifying the most effective responses based on the framework of the National Banking Era, they then consider the Fed’s and the SEC’s reactions to the recent crisis, building an informative new perspective on how the modern economy works.
Credit crunches, asset prices and technological change
Bank runs as a coordination problem within a two-bank set-up: Who will survive?
Monetary policy and large crises in a financial accelerator agent-based model
Predatory cells and puzzling financial crises: Are toxic products good for the financial markets?
Do better institutions offset the adverse effect of a financial crisis on investment? Evidence from East Asia
Informality and the labor market effects of financial crises
Fiscal Space and the Aftermath of Financial Crises: How It Matters and Why
After the Panic: Are Financial Crises Demand or Supply Shocks? Evidence from International Trade | Published
Abstract: Are financial crises a negative shock to demand or a negative shock to supply? This is a fundamental question for both macroeconomics researchers and those involved in real-time policymaking, and in both cases the question has become much more urgent in the aftermath of the recent financial crisis. Arguments for monetary and fiscal stimulus usually interpret such events as demand-side shortfalls. Conversely, arguments for tax cuts and structural reform often proceed from supply-side frictions. Resolving the question requires models capable of admitting both mechanisms, and empirical tests that can tell them apart. We develop a simple small open economy model, where a country is subject to deleveraging shocks that impose binding credit constraints on households and/or firms. These financial crisis events leave distinct statistical signatures in the empirical time series record, and they divide sharply between each type of shock. Household deleveraging shocks are mainly demand shocks, contract imports, leave exports largely unchanged, and depreciate the real exchange rate. Firm deleveraging shocks are mainly supply shocks, contract exports, leave imports largely unchanged, and appreciate the real exchange rate. To test these predictions, we compile the largest possible crossed dataset of 200+ years of trade flow data and event dates for almost 200 financial crises in a wide sample of countries. Empirical analysis reveals a clear picture: after a financial crisis event we find the dominant pattern to be that imports contract, exports hold steady or even rise, and the real exchange rate depreciates. History shows that, on average, financial crises are very clearly a negative shock to demand.
Modeling financial contagion using mutually exciting jump processes
Inefficient Fire-Sales in Decentralized Asset Markets
Arbitrage Crashes, Financial Accelerator, and Sudden Market Freezes
Renegotiation Frictions and Financial Distress Resolution: Evidence from CDS Spreads
Do Distressed Banks Really Gamble for Resurrection?
Liquidation, bailout, and bail-in: Insolvency resolution mechanisms and bank lending
Real estate prices and systemic banking crises
Bailouts, Bail-ins and Banking Crises
An assets-liabilities dynamical model of banking system and systemic risk governance
Externalities and financial crisis - enough to cause collapse?
On the Global Impact of Risk-off Shocks and Policy-put Frameworks
Banking Crises, Bail-ins and Money Holdings
The Information View of Financial Crises
Banking Panic Risk and Macroeconomic Uncertainty
Externalities and financial crisis - enough to cause collapse?
When the bank is closed, the cash is king; ... not!
Crises: Equilibrium Shifts and Large Shocks
Default, Bailouts and the Vertical Structure of Financial Intermediaries | Published
Lending Standards, Productivity and Credit Crunches
An Early Warning System for banking crises: From regression-based analysis to machine learning techniques
Tools for the Rescue of Banks in Crisis
Money Runs | Published
Anticipating individual bank rescues
Haircut Cycles
A behavioral model of the credit cycle
Banking crises and liquidity in a monetary economy
Machine Learning and Causality: The Impact of Financial Crises on Growth
Bank Capital Regulation and Endogenous Shadow Banking Crises
What Does Financial Crisis Tell Us About Exporter Behavior and Credit Reallocation?
Systemic banking panics, liquidity risk, and monetary policy
Does experience of banking crises affect trust in banks?
Financial Risk Capacity
Strategic uncertainty and the power of extrinsic signals- evidence from an experimental study of bank runs
News-based Sentiment Indicators
The Dynamics of Non-Performing Loans during Banking Crises: A New Database
Income inequality and banking crises: Testing the level hypothesis directly
Debt Is Not Free
Systematic Banking Crises: The Relationship Between Concentration and Interbank Connections
Information Management in Times of Crisis
Banking crisis prediction with differenced relative credit
Anticipating the Financial Crisis: Evidence from Insider Trading in Banks
Learning from trees: A mixed approach to building early warning systems for systemic banking crises
Predicting banking crises based on credit, housing and capital booms
Bad bank resolutions and bank lending
Firm or bank weakness? Access to finance since the European sovereign debt crisis
Perceived vs actual financial crisis and bank credit standards: is there any indication of self-fulfilling prophecy?
The anatomy of financial vulnerabilities and banking crises
Managing Systemic Banking Crises: New Lessons and Lessons Relearned
Global Corporate Debt during Crises : Implications of Switching Borrowing across Markets | Published
Debt and financial crises
Financial Crises and Innovation | Published
Banking Crises without Panics | Published
Bank Runs: The Predeposit Game
Self-Fulfilling Runs: Evidence from the U.S. Life Insurance Industry
Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime-Switching Approach
Financial Crisis and Slow Recovery with Bayesian Learning Agents
Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment
Worldwide economic recoveries from financial crises through the decades
Currency Swap Agreements and Financial Crises in Small Open Economies
Internal Capital Markets in Times of Crisis: The Benefit of Group Affiliation
Margin Trading and Comovement During Crises
Systemic Banking Crises Database: A Timely Update in COVID-19 Times
Credit Booms, Financial Crises and Macroprudential Policy | Published
Catch, Restrict, and Release: The Real Story of Bank Bailouts
Shadow Bank Runs
Trading for Bailouts
Financial Crises, Dollarization, and Lending of Last Resort in Open Economies
Credit Market Disruptions and Liquidity Spillover Effects in the Supply Chain
The rationality of irrationality in times of financial crises
Riding out of a financial crisis: The joint effect of trust and corporate ownership
A Liquidity Crunch in an Endogenous Growth Model with Human Capital
Financial crises, macroprudential policy and the reliability of credit-to-GDP gaps
Stock market listing and the persistence of bank performance across crises
Dividend Payouts and Rollover Crises
The Epidemiology of Economic and Financial Crises
Payments Crises and Consequences
Which credit gap is better at predicting financial crises? A comparison of univariate filters
Owe a Bank Millions, the Bank Has a Problem: Credit Concentration in Bad Times
Money, Banking, and Financial Markets
Demand deposit contracts and bank runs with present biased preferences
Financial crises and economic recovery: Cross-country heterogeneity and cross-sectional dependence
A Markov-Chain Measure of Systemic Banking Crisis Frequency
Financial constraints and collateral crises
Fighting Crises with Secrecy
Monetary Policy Cooperation/Coordination and Global Financial Crises in Historical Perspective
Disastrous Defaults | Published
Bank partnership and liquidity crisis
Is market liquidity less resilient after the financial crisis? Evidence for US Treasuries
Foreign bank lending during a crisis: The impact of financial regulations
Allocating Losses: Bail-ins, Bailouts and Bank Regulation
Unexpected Effects of Bank Bailouts: Depositors Need Not Apply and Need Not Run
Capital Regulations and the Management of Credit Commitments during Crisis Times
Banking Concentration and Financial Crises
Unconventional Monetary Policy, Leverage & Default Dynamics
Managerial Overconfidence and Bank Bailouts
Risky Mortgages and Bank Runs
Recapitalization, bailout, and long-run welfare in a dynamic model of banking
Banking Crises under a Central Bank Digital Currency (CBDC)
Risk mitigating versus risk shifting: evidence from banks security trading in crises
Liquidity in resolution: estimating possible liquidity gaps for specific banks in resolution and in a systemic crisis
The cost of banking crises: Does the policy framework matter?
Macroprudential policy and the probability of a banking crisis
Does more finance mean more inequality in times of crisis?
Sophisticated and Unsophisticated Runs
Answering the Queen: Machine Learning and Financial Crises
A Model of Bank-Note Runs
Optimizing Credit Gaps for Predicting Financial Crises: Modelling Choices and Tradeoffs
Optimizing Policymakers' Loss Functions in Crisis Prediction: Before, Within, or After?
On the distributional effects of bank bailouts
Preventing runs with fees and gates
Procyclical Leverage and Crisis Probability in a Macroeconomic Model of Bank Runs
Corporate Governance and Banking Systemic Risk: A Test of the Bundling Hypothesis
Three Decades of International Financial Crises: What Have We Learned and What Still Needs to be Done?
Financial Crises and Shadow Banks: A Quantitative Analysis | Published
Collateral Runs
Commodity Prices and Banking Crises | Published
The Resilience of the U.S. Corporate Bond Market During Financial Crises
Investing in crises
Securitization and crash risk: Evidence from large European banks
Should regulators always be transparent? A bank run experiment
Memory, Multiple Equilibria and Emerging Market Crises
Collateral in bank lending during the financial crises: a borrower and a lender story
Measuring the impact of a bank failure on the real economy: an EU-wide analytical framework
Bailouts in Financial Networks
Crisis and non-crisis short selling and bank enforcement actions
Bank Runs, Bank Competition and Opacity
The rich, the poor, and the middle class: banking crises and income distribution
How excessive endogenous money supply can contribute to global financial crises
The carrot and the stick: Bank bailouts and the disciplining role of board appointments
Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis
Do financial crises increase income inequality?
Market Freezes
Sunspot bank runs and fragility: The role of financial sector competition
Banking-Crisis Interventions, 1257-2019
Bank Runs, Fragility, and Credit Easing
Financial Crises, Investment Slumps, and Slow Recoveries
Private Equity and the Resolution of Financial Distress
Resolution of financial crises | Published
Monetary Policy and Endogenous Financial Crises
Financial Instability and Banking Crises in a small open economy
Credit, crises and inequality
Cash demand in times of crises
Predictive power of the Financial Activity Indexes - A case study of banking crisis in multiple countries
Are Bank Bailouts Welfare Improving?
Reducing Strategic Default in a Financial Crisis
Born to Run: Adaptive and Strategic Behavior in Experimental Bank-Run Games
A new comprehensive database of financial crises: Identification, frequency, and duration
Modeling Bank Panics: Challenges
The effects of financial integration during crises
Money under the Mattress: Inflation and Lending of Last Resort
Who withdraws first? Line formation during bank runs
Target 2 determinants: The role of Balance of Payments imbalances in the long run
The Sale of Failed Banks: The Characteristics of Acquirers as Well as of the Acquired Matter
Savings, efficiency and the nature of bank runs
Relevance of the collateral constraint form in the analysis of financial crisis interventions
Depositor Responses to a Banking Crisis: Are Finance Professionals Special?
Investment slumps during financial crises: The real effects of credit supply
Who Can Tell Which Banks Will Fail?
The optimal bailout policy in an interbank network
Financial Crises and Expectation-driven Recessions
Wealth, endogenous collateral quality, and financial crises?
Restoring confidence in troubled financial institutions after a financial crisis
Policy Rules and Large Crises in Emerging Markets
Markups and Financial Shocks
A machine learning approach to rank the determinants of banking crises over time and across countries
Capital forbearance in the bank recovery and resolution game
What drives the systemic banking crises in advanced economies?
Systemic bank runs without aggregate risk: how a misallocation of liquidity may trigger a solvency crisis
Bank runs and the optimality of limited banking
Liquidation, Bailout, and Bail-In: Insolvency Resolution Mechanisms and Bank Lending
Surrogate Data Models: Interpreting Large-scale Machine Learning Crisis Prediction Models
Capital Deaccumulation and the Large Persistent Effects of Financial Crises
Who Wil Run Their Bank?
Banking Crises in Historical Perspective
Financial Crises and the Global Supply Network: Evidence from Multinational Enterprises
Why strong banks fail
From Tech Hub to Banking Failure: Exploring the Implications of CBDCs on the Destiny of Silicon Valley Bank
Inefficient Bank Recapitalization, Bailout and Post-Crisis Recoveries
When Losses Turn into Loans: The Cost of Weak Banks
Optimal Deposit Insurance
The paradox of safe asset creation
Allocating losses: Bail-ins, bailouts and bank regulation
Panic bank runs, global market contagion and the financial consequences of social media
Do the carry trades respond to geopolitical risks? Evidence from BRICS countries
Government Banks and Interventions in Credit Markets
Too-many-to-fail and the Design of Bailout Regimes
Bank Branch Density and Bank Runs
Trade credit, creditor protection and banking crisis
Climate-induced liquidity crises: interbank exposures and macroprudential implications
Predicting Financial Crises: The Role of Asset Prices
Why are credit-driven crises deep and long-lasting?
How Heterogeneous Beliefs Trigger Financial Crises
Keep Calm and Bank On: Panic-Driven Bank Runs and the Role of Public Communication
To use or not to use? Capital buffers and lending during a crisis
How Do Financial Crises Redistribute Risk?
Financial Intermediaries and Financial Crises
Are benchmark stock indices, precious metals or cryptocurrencies efficient hedges against crises?
Financial Crises and the Transmission of Monetary Policy to Consumer Credit Markets
A Model of Sequential Crisis Management
Decoding Financial Crises: Analyzing Predictors and Evolution
A flexible predictive density combination for large financial data sets in regular and crisis periods
Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
The Risk of External Financial Crisis
The Long-Run Real Effects of Banking Crises: Firm-Level Investment Dynamics and the Role of Wage Rigidity
The Historical Effects of Banking Distress on Economic Activity
Crisis Risk and Risk Management
Knockin' on H(e)aven's door: Financial crises and hidden wealth
Unequal access to The Global Financial Safety Net: An index for the quality of crisis finance
Income inequality and systemic banking crises: A nonlinear nexus
Credit growth, the yield curve and financial crisis prediction: Evidence from a machine learning approach
Bank Runs and Inequality
Leaning against persistent financial cycles with occasional crises
Central Bank Crisis Interventions: A Review of the Recent Literature on Potential Costs
Financial Intermediation, Capital Accumulation, and Crisis Recovery
Delayed crises and slow recoveries
Preventing runs under sequential revelation of liquidity needs
Determinants of Zombie Banks in Emerging Markets and Developing Economies
Why do rational investors like variance at the peak of a crisis? A learning-based explanation
Pay, Stay, or Delay? How to Settle a Run
Bernanke and Kindleberger on financial crises, 1978-2003
Central Banking Post Crises
A Model of Balance-of-Payments Crises
Abstract: This is the seminal paper on the analysis of balance-of-payments crises.
Balance of Payments Crises in a Cash-in-Advance Economy
Abstract: The author shows that a flexible-prices, Sidrauski-type model with a cash-in-advance constraint is capable of depicting some of the phenomena associated with a balance of payments crisis, like the onesrecently observed in Argentina and Mexico (current-accounts deficits,and appreciation of the real exchange rat e). It is also shown that these phenomena become exacerbated as the rate of devaluation (before the crisis occurs) becomes smaller.
Explaining Sudden Stop, Growth Collapse, and BOP crisis
Abstract: The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as fiscal burden reaches a critical level. Growth collapse is associated with a sudden stop of capital inflows, real depreciation and a drop in output (driven by a fall in the output of nontradables)—all of which have occurred during recent financial crises in emerging markets. The monetary version of the model is employed to show that balance of payments (BOP) crises could be a result of fiscal distortions. In par-ticular, it is further argued that BOP crisis could be a justifiable central bank response to growth col-lapse, although realistic circumstances may make this response highly ineffective. An important policy implication of the model is that in order to avoid sudden stop crises, policymakers should aim at improving fiscal institutions. Lowering the fiscal deficit is highly effective in the medium term, but could be counterproductive in the short run if it relies on higher taxes.
Aftermaths of Current Account Crisis: Export Growth or Import Contraction?
Thirty Years of Current Account Imbalances, Current Account Reversals and Sudden Stops
Financial Openness, Sudden Stops and Current Account Reversals | Published
Current Account Reversals: Always a Problem?
Current Account Reversals and Growth: The Direct Effect Central and Eastern Europe 1923-2000
Currency Crises, Current Account Reversals and Growth: The Compounded Effect for Emerging Markets
Balance of Payments Crises Under Inflation Targeting | Published
Balance of Payment Crises in Emerging Markets: How Early Were the 'Early' Warning Signals?
Dynamic Panel Probit Models for Current Account Reversals and their Efficient Estimation
Determinants and Costs of Current Account Reversals under Heterogeneity and Serial Correlation
Inventories, lumpy trade, and large devaluations
Rapid Current Account Adjustments: Are Microstates Different?
Did Mergers Help Japanese Mega-Banks Avoid Failure? Analysis of the Distance to Default of Banks
Financial Crash, Commodity Prices and Global Imbalances
Coordination Frictions and The Financial Crisis
The Dollar in the Turmoil
Balance of Payments Anti-Crises
Abstract: Several emerging economies have, until recently, experienced large government surpluses and accelerating foreign exchange reserve accumulation. This has been accompanied by economic booms, exchange rate appreciations and in some cases increases in domestic inflation. We show that one way to understand these episodes is as manifestations of balance of payments anti-crises, as reflecting the perception that the government intends to discontinue its accumulation of reserves in the near future. The end-phase of such crises is characterized by nominal interest rates approaching their zero lower bound in accelerating fashion and, if the government targets CPI inflation, by fast increasing domestic inflation.
Do Workers’ Remittances Reduce the Probability of Current Account Reversals?
Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View | Published
Globalization, the output–inflation tradeoff and inflation
Remittances and Financial Openness
External Imbalances and Financial Crises
Growth Following Investment and Consumption-Driven Current Account Crises
Financial fragility in small open economies: firm balance sheets and the sectoral structure
Balance-of-payments anti-crises
Current account deficits during heightened risk: menacing or mitigating?
Adjustment to Negative Price Shocks by a Commodity Exporting Economy: Does Exchange Rate Flexibility Resolve a Balance of Payments Crisis?
Deflating asset price bubbles with leverage constraints and monetary policy
Household Debt Revaluation and the Real Economy: Evidence from a Foreign Currency Debt Crisis
Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market
Tropical Bubbles: Asset Prices in Latin America, 1980-2001
Lending Booms, Real Estate Bubbles and The Asian Crisis
Bubbles and Capital Flows | Published
Temporary bubbles
Bubbling and Crashing Exchange Rates
Shakeouts and Market Crashes | Published
Distinguishing Informational Cascades from Herd Behavior in the Laboratory
Riding the South Sea Bubble
Testing for bubbles and change-points
Rational bubbles or persistent deviations from market fundamentals?
Bubbles and Capital Flow Volatility: Causes and Risk Management | Published
Slow boom, sudden crash
Bubbles and Experience: An Experiment
Who herds?
Bubbles and Busts: The 1990s in the Mirror of the 1920s
Explosive bubbles in the cointegrated VAR model
Periodically Collapsing Rational Bubbles in Exchange Rates: A Markov-Switching Analysis for a Sample of Industrialised Markets
Foreign Bank Participation and Crises in Developing Countries
Banks and bubbles: How good are bankers at spotting winners?
Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets? An Overinvestment View
Inefficient Credit Booms | Published
Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals | Published
Expectations and bubbles in asset pricing experiments
Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?
Advisors and asset prices: A model of the origins of bubbles
Don’t let your robots grow up to be traders: Artificial intelligence, human intelligence, and asset-market bubbles
An Anatomy of Credit Booms: Evidence From Macro Aggregates and Micro Data
The Subprime Panic
Unit root testing for bubbles: A resurrection?
Bubbles and multiplicity of equilibria under portfolio constraints | Published
Confidence, Crashes and Animal Spirits | Published
A prototype model of speculative dynamics with position-based trading
The Japanese Bubble: A 'Heterogeneous' Approach
Bubbles and Self-Enforcing Debt
On Rational Exuberance
A Robust Model of Bubbles With Multidimensional Uncertainty
A note on sunspots with heterogeneous agents
Speculative bubbles and financial crisis
Inexperienced investors and bubbles
New Evidence on the First Financial Bubble | Published
Leverage and Asset Bubbles: Averting Armageddon with Chapter 11? | Published
Intrinsic bubbles and Granger causality in the S&P 500: Evidence from long-term data
Quasi equilibria for growth economies
Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
The Chinese Warrants Bubble
Leveraged financing, over investment, and boom-bust cycles
Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency | Published
Booms and Busts in Asset Prices | Published
Beauty Contests and Irrational Exuberance: A Neoclassical Approach
Expectations-driven cycles in the housing market
International capital flows and expectation-driven boom–bust cycles in the housing market
Asset Bubbles, Endogenous Growth, and Financial Frictions | Published
Theoretical Notes on Bubbles and the Current Crisis | Published
Rational and Near-Rational Bubbles Without Drift
Bubbly Liquidity
A consolidated model of self-fulfilling expectations and self-destroying expectations in financial markets
The recent boom–bust cycle: The relative contribution of capital flows, credit supply and asset bubbles
Identification of speculative bubbles using state-space models with Markov-switching
Bubbles and Self-Fulfilling Crises
General equilibrium, wariness and efficient bubbles
Speculative trading, price pressure and overvaluation
Why do people risk exposure to Ponzi schemes? Econometric evidence from Jamaica
Taking the road less traveled by: Does conversation eradicate pernicious cascades?
New models of trader beliefs and their application for explaining financial bubbles
Testing for rational bubbles in the presence of structural breaks: Evidence from nonstationary panels
Asymmetric herding as a source of asymmetric return volatility
Aggregate information cascades
Animal Spirits, Rational Bubbles and Unemployment in an Old-Keynesian Model | Published
Herding and Contrarian Behavior in Financial Markets
Quasi real time early warning indicators for costly asset price boom/bust cycles: A role for global liquidity
Learning about Risk and Return: A Simple Model of Bubbles and Crashes
Short-sale constraints and price bubbles
How to grow a bubble: A model of myopic adapting agents
Do Low Interest Rates Sow the Seeds of Financial Crises?
Double Bubbles in Assets Markets with Multiple Generations
Rapid Credit Growth: Boon or Boom-Bust?
Bootstrapping asset price bubbles
Intangible Capital, Relative Asset Shortages and Bubbles | Published
Some properties of periodically collapsing bubbles
Boom–bust cycles: Leveraging, complex securities, and asset prices
A simple model of herd behavior, a comment
Stochastic Herding in Financial Markets Evidence from Institutional Investor Equity Portfolios
The Seeds of a Crisis: A Theory of Bank Liquidity and Risk-Taking over the Business Cycle
Fooled by Search: Housing Prices, Turnover and Bubbles
Asset bubbles, economic growth, and a self-fulfilling financial crisis: a dynamic general equilibrium model of infinitely lived heterogeneous agents | Published
Tournament incentives and asset price bubbles: Evidence from a field experiment
Understanding Bubbly Episodes | Published
Boom-and-bust cycles marked by capital inflows, current account deterioration and a rise and fall of the real exchange rate
Thar She Bursts: Reducing Confusion Reduces Bubbles
Banking Bubbles and Financial Crises | Published
Bubbles and Total Factor Productivity
Asset bubbles, credit market imperfections, and technology choice
Speculative Bubbles and Financial Crises
Herding, contrarianism and delay in financial market trading
An Anatomy of Credit Booms and their Demise
Speculative growth, overreaction, and the welfare cost of technology-driven bubbles
The Transition from Brownian Motion to Boom-and-Bust Dynamics in Financial and Economic Systems
Exchange rate bubbles: Fundamental value estimation and rational expectations test
Speculative Overpricing in Asset Markets With Information Flows
Economic Growth with Bubbles
Sectoral Bubbles and Endogenous Growth
Asymmetric information in credit markets, bank leverage cycles and macroeconomic dynamics
Consumption and Bubbles
Behavioral aspects of arbitrageurs in timing games of bubbles and crashes
Bubble cycle
Bubbles in prices of exhaustible resources
Monetary Policy and Rational Asset Price Bubbles | Published
A statistical model of speculative bubbles, with applications to the stock markets of the United States, Japan, and China
Asset Price Bubbles: A Selective Survey
SURVEY PAPER
Early warning indicators of asset price boom/bust cycles in emerging markets
Bubble Troubles? Rational Storage, Mean Reversion and Runs in Commodity Prices
A review of bubbles and crashes in experimental asset markets
SURVEY PAPER
Asset Bubbles in an Overlapping Generations Model with Endogenous Labor Supply | Published
The Bubble Game: An Experimental Study of Speculation
The Stabilizing Virtues of Fiscal vs. Monetary Policy on Endogenous Bubble Fluctuations
Quiet bubbles
Globalization and Financial Development: A Model of the Dot-Com and the Housing Bubbles
On Existence and Bubbles of Ramsey Equilibrium with Borrowing Constraints
Asset Bubbles & Global Imbalances
Monetary Policy and Inflation Dynamics in Asset Price Bubbles
Limited records and reputation bubbles
Herd behavior, bubbles and social interactions in financial markets
Optimism, pessimism and financial bubbles
Bubbles in Food Commodity Markets: Four Decades of Evidence
Managing Credit Bubbles
Growth effect of bubbles in a non-scale endogenous growth model with in-house R&D
The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence | Published
Periodically collapsing Evans bubbles and stock-price volatility
Asset-Holdings Caps and Bubbles in Experimental Asset Markets
Bubbles over the U.S. business cycle: A macroeconometric approach
No-Bubble Condition: Model-free Tests in Housing Markets | Published
Managing Credit Bubbles
The Macroeconomic Consequences of Asset Bubbles and Crashes
A leverage-based model of speculative bubbles
Housing Bubbles
Asset Price Bubbles and Monetary Policy in a Small Open Economy
Financial crises, debt volatility and optimal taxes
Wall Street and the Housing Bubble
The "Inflow-Effect" - Trader Inflow and Bubble Formation in Asset Markets
Herding, trend chasing and market volatility
Contagious Herding and Endogenous Network Formation in Financial Networks |
Identifying Speculative Bubbles: A Two-Pillar Surveillance Framework
Systematic cyclicality of systemic bubbles: Evidence from the U.S. commercial banking system
Market run-ups, market freezes, inventories, and leverage
Contagious synchronization and endogenous network formation in financial networks
Intertemporal equilibrium with production: bubbles and efficiency
Credit Market Frictions and Sudden Stops
A mechanism for booms and busts in housing prices
Credit Supply and the Housing Boom | Published
Bubbles and unemployment in an endogenous growth model
Should central banks burst bubbles? Some microeconomic issues
Speculative bubbles in agricultural prices
Signalling the Dotcom bubble: A multiple changes in persistence approach
Super-exponential endogenous bubbles in an equilibrium model of fundamentalist and chartist traders
Credit Supply and the Housing Boom
Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin
Bubbles and Central Banks: Historical Perspectives
Rational bubbles and macroeconomic fluctuations: The (de-)stabilizing role of monetary policy
Limited Liability, Asset Price Bubbles and the Credit Cycle: The Role of Monetary Policy
e Contractual incompleteness, limited liability and asset price bubbles
International Transmission of Bubble Crashes: Stationary Sunspot Equilibria in a Two-Country Overlapping Generations Model
Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach
Helpful laymen in informational cascades
Mutual funds flows and the geography of contagion
The International Transmission of Credit Bubbles: Theory and Policy
Monetary Policy, Hot Housing Markets and Leverage
Bubbles, banks and financial stability
Leveraged Bubbles | Published
Traders' heterogeneity and bubble-crash patterns in experimental asset markets
Animal spirits and credit cycles
Monetary Exchange in Over-the-Counter Markets: A Theory of Speculative Bubbles, the Fed Model, and Self-fulfilling Liquidity Crises
Monetary Policy and Controlling Asset Bubbles
The cyclicality of leverage
Liquidity shocks and stock bubbles
Testing for Multiple Bubbles: Historical Episodes of Exuberance and Collapse in the S&P 500
Testing for Multiple Bubbles: Limit Theory of Real-Time Detectors
Are individual or institutional investors the agents of bubbles?
On the Interplay Between Speculative Bubbles and Productive Investment | Published
The performances of acquired firms in the steel industry: Do financial institutions cause bubbles?
Imperfect knowledge, liquidity and bubbles
Money growth, dynamic efficiency and asset bubbles in a perpetual youth model
The international transmission of credit bubbles: Theory and policy
Asset bubbles, collateral, and policy analysis
Asset Bubbles: Re-thinking Policy for the Age of Asset Management
Bubble or riddle? An asset-pricing approach evaluation on China's housing market
Rational Bubbles and Economic Crises: A Quantitative Analysis
Asset bubbles and bailouts
Can a financial transaction tax prevent stock price booms?
Bubbles, Crashes, and Endogenous Uncertainty in Linked Asset and Product Markets
Bubble-driven business cycles
Speculative Fever: Investor Contagion in the Housing Bubble | Published
Inefficient Investment Waves
Credit-fuelled bubbles
Are there periodically collapsing bubbles in the stock markets? New international evidence
Switching bubbles: From Outside to Inside Bubbles
Fama on Bubbles
Interpreting the movement of oil prices: Driven by fundamentals or bubbles?
Interpreting the movement of oil prices: Driven by fundamentals or bubbles?
Informational herding with model misspecification
Sentiments, financial markets, and macroeconomic fluctuations
Securitisation Bubbles: Structured finance with disagreement about default correlations
Taxation, bubbles and endogenous growth
Asset bubbles and efficiency in a generalized two-sector model | Published
Explosive bubbles in house prices? Evidence from the OECD countries
Understanding Booms and Busts in Housing Markets
Testing for Speculative Bubbles in Large-Dimensional Financial Panel Data Sets
A Double Counting Problem in the Theory of Rational Bubbles
Monetary Policy for a Bubbly World | Published
Heterogeneous expectations, boom-bust housing cycles, and supply conditions: A nonlinear economic dynamics approach
Secular Stagnation, Rational Bubbles, and Fiscal Policy
Economic shocks and crime: Evidence from the crash of Ponzi schemes
Frictional Unemployment with Stochastic Bubbles
Regulation and Rational Banking Bubbles in Infinite Horizon
Direct comparison of agent-based models of herding in financial markets
Asset bubbles, labor market frictions, and R&D-based growth
Did the FED React to Asset Price Bubbles?
Asset Bubbles and Foreign Interest Rate Shocks | Published
Noise Bubbles
Bubbles, wage rigidity, and persistent slumps
Speculative behavior in a housing market: Boom and bust
A Real Estate Boom with Chinese Characteristics
An early alarm system for housing bubbles
Asset Bubbles, Technology Choice, and Financial Crises
Bubbles for Fama | Pubished
The Circular Relationship Between Inequality, Leverage, and Financial Crises
Herding in frontier markets: Evidence from African stock exchanges
Bubbly Markov Equilibria
Aggregate Uncertainty Can Lead to Incorrect Herds
A robust reference-dependent model for speculative bubbles
Vulnerabilities to housing bubbles: Evidence from linkages between housing prices and income fundamentals
Speculative Dynamics of Prices and Volume
Booms, busts and behavioural heterogeneity in stock prices
Are there bubbles in exchange rates? Some new evidence from G10 and emerging market economies
Default Cycles
Accounting for debt service: the painful legacy of credit booms
Information disclosure and asymmetric speed of learning in booms and busts
The housing bubble and the evolution of the homeownership gap
Commodity Booms and Busts in Emerging Economies | Published
The Housing Boom and Bust: Model Meets Evidence | Published
Do bubbles have an explosive signature in markov switching models?
Speculative bubbles or market fundamentals? An investigation of US regional housing markets
Venture Capital and the Market for Talent during Booms and Busts
Can Learning Explain Boom-Bust Cycles in Asset Prices? An Application to the US Housing Boom
Explaining the timing of tulipmania's boom and bust: historical context, sequestered capital and market signals
On Interest Rate Policy and Asset Bubbles
Explaining the timing of tulipmania's boom and bust: historical context, sequestered capital and market signals
The case for herding is stronger than you think
Bubble Formation and (In)Efficient Markets in Learning-to-forecast and optimise Experiments
The Real Effects of Credit Booms and Busts: A County-Level Analysis
The market for lemmings: The herding behavior of pension funds
Price bubbles, gender, and expectations in experimental asset markets
Extreme Returns and Herding of Trade Imbalances
Testing for Speculative Bubbles Using Spot and Forward Prices
Identifying bubbles in Latin American equity markets: Phillips-Perron-based tests and linkages
Income Distribution by Age Group and Productive Bubbles
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble
Should Monetary Authorities Prick Asset Price Bubbles? Evidence from a New Keynesian Model with an Agent-Based Financial Market
Gilded Bubbles
A Model of Bank Credit Cycles
Herding, social network and volatility
Testing for bubbles in the art markets: An empirical investigation
Herding behavior among wine investors
Do 18th century 'bubbles' survive the scrutiny of 21st century time series econometrics?
Rational bubbles in a monetary economy
The Macroeconomics of Rational Bubbles: A User's Guide | Published
Lending Standards and Output Growth
Bubbles in hybrid markets: How expectations about algorithmic trading affect human trading
On the role of responsiveness in rational herds
Growth, financial development, and housing booms
Securitization bubbles: Structured finance with disagreement about default risk
Determinants of housing bubbles' duration in OECD countries
Housing Booms, Manufacturing Decline, and Labor Market Outcomes
Capital price bubbles and dynamic inefficiency
Bubbly Recessions | Published
Asset Bubbles and Global Imbalances | Published
Financial bubbles and capital accumulation in altruistic economies
Bubbles and Crowding-in of Capital via a Savings Glut
The simplest rational greater-fool bubble model
Herding with costly information
Financial Bubbles in Interbank Lending
Herding in analysts’ recommendations: The role of media?
Overoptimism and house price bubbles
Neighborhood effects on speculative behavior
Rational bubbles and public debt policy: A quantitative analysis
Boom-bust dynamics in a stock market participation model with heterogeneous traders
Riding the Credit Boom
Extrapolation and bubbles
Bias-corrected estimation for speculative bubbles in stock prices
Wealth Preference and Rational Bubbles
Bilateral adjustment of bank assets: Boom and bust
Asset Pledgeability and Endogenously Leveraged Bubbles | Published
Asset Bubbles and Credit Constraints
Booms, busts and heavy-tails: The story of Bitcoin and cryptocurrency markets?
Credit booms, debt overhang and secular stagnation
Booms and Busts in a Housing Market with Heterogeneous Agents
Ponzi schemes and the financial sector: DMG and DRFE in Colombia
Bubble on Real Estate: The Role of Altruism and Fiscal Policy | Published
The Gilded Bubble Buffer
Endogenous Business Cycles with Bubbles
Financial Cycles, Credit Bubbles and Stabilization Policies
How do valuations impact outcomes of asset sales with heterogeneous bidders?
Should central banks lean against the bubble? The monetary policy conundrum under credit frictions and capital accumulation
Probability of price crashes, rational speculative bubbles, and the cross-section of stock returns
Fundamental and Speculative Demands for Housing
Riding the Bubble with Convex Incentives
Bubbles, Crashes, and the Financial Cycle: The Impact of Banking Regulation on Deep Recessions
Expectations During the U.S. Housing Boom: Inferring Beliefs from Actions
Asset bubbles, banking stability and economic growth
Affordability, Financial Innovation, and the Start of the Housing Boom
Asset Price Bubbles and Systemic Risk | Published
The power of sunspots: An experimental analysis
From boom to bust: a typology of real commodity prices in the long run
Identifying booms and busts in house prices under heterogeneous expectations
Credit Supply and the Housing Boom
A Macroeconomic Model of Price Swings in the Housing Market
Growth and bubbles: Investing in human capital versus having children
Is there a housing bubble in China?
Blockchain hysteria: Adding "blockchain" to company's name
Affordability, financial innovation and the start of the housing boom
Asset Bubbles and Economic Growth Under Endogenous Market Structure
Asset price bubbles with low interest rates: not all bubbles are alike
Optimal Macroprudential Policy and Asset Price Bubbles
Asset shortages, liquidity and speculative bubbles
The impact of interest rate policy on individual expectations and asset bubbles in experimental markets
Beliefs, Aggregate Risk, and the U.S. Housing Boom
Bubbles, growth and sunspots with credit market frictions
Debt Limits and Credit Bubbles in General Equilibrium
Economic Consequences of Housing Speculation | Published
Real indeterminacy and dynamics of asset price bubbles in general equilibrium
Explosive dynamics in house prices? An exploration of financial market spillovers in housing markets around the world
Fire Sales in Frozen Markets
Rational exuberance booms
Leverage and Asset Prices: An Experiment
On booms that never bust: Ambiguity in experimental asset markets with bubbles
(A)symmetric information bubbles: Experimental evidence
Who inflates the bubble? Forecasters and traders in experimental asset markets
Coordination on bubbles in large-group asset pricing experiments
Shadow banks, leverage risks, and asset prices
Monetary policy and herd behavior: International evidence
The Minsky Moment as the Revenge of Entropy
Cycles of credit expansion and misallocation: The Good, the Bad and the Ugly
Rational bubbles in non-linear business cycle models: Closed and open economies
The other (commercial) real estate boom and bust: The effects of risk premia and regulatory capital arbitrage
Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations | Published
Market impact and performance of arbitrageurs of financial bubbles in an agent-based model
Bubbles and house price dispersion in the United States during 1975-2017
Bubbles and persuasion with uncertainty over market sentiment
Natural Interest Rate and Asset Price Bubbles: How Bubbles Counteract Low Interest Rates
News and noise bubbles in the housing market
Financial policy in an exuberant world
Housing Booms and the U.S. Productivity Puzzle
Price discovery in the small and in the large: Momentum and reversal, bubbles, and crashes
Do 'complex' financial models really lead to complex dynamics? Agent-based models and multifractality
Are speculative bubbles welfare improving? A note on Wang and Wen (2012)
Are the liquidity and collateral roles of asset bubbles different?
Credit Supply Driven Boom-Bust Cycles
Asset Bubbles and Monetary Policy | Published
The Fiscal Theory of Price Level with a Bubble
Disentangling bubbles in equity REITs
Bubbles and Financial Professionals
Market Panics, Frenzies, and Informational Efficiency: Theory and Experiment
Recurrent Bubbles and Economic Growth
Monetary Policy and Asset Price Bubbles: A Laboratory Experiment | Published
Chaos control in presence of financial bubbles
Asset bubble and endogenous labor supply: a clarification
Asset Bubbles, Unemployment, and Financial Market Frictions
Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect
Asset Bubbles, Unemployment, and a Financial Crisis
Credit policy and asset price bubbles
Stationary bubble equilibria in rational expectation models
Understanding risk of bubbles in cryptocurrencies
Do investors follow the herd in option markets?
Weighing up the Credit-to-GDP Gap: A Cautionary Note
Speculative bubbles in segmented markets: Evidence from Chinese cross-listed stocks
Role of the Community Reinvestment Act in Mortgage Supply and the U.S. Housing Boom
Social interactions and asset pricing bubbles
Coordinated bubbles and crashes
Can learning explain boom-bust cycles in asset prices? An application to the US housing boom
Effectiveness of Bailout Policies for Asset Bubbles in a Small Open Economy
Self-Fulfilling Risk Panics: An Expected Utility Framework
Leaning against the bubble: Can theoretical models match the empirical evidence?
Mutual fund flows and fluctuations in credit and business cycles
Identifying bubbles and the contagion effect between oil and stock markets: New evidence from China
The Chinese Warrants Bubble: Evidence from Brokerage Account Records
Winners, Losers, and Regulators in a Derivatives Market Bubble
Beta herding through overconfidence: A behavioral explanation of the low-beta anomaly
Credit Crunch: The Role of Household Lending Capacity in the Dutch Housing Boom and Bust 1995-2018
Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications
The Macroeconomics of Financial Speculation
Entrepreneurship, growth and productivity with bubbles
Capital constraints and asset bubbles: An experimental study
Heterogeneous expectations, housing bubbles and tax policy
The Financial Transmission of Housing Booms: Evidence from Spain
Liquidity Rules and Credit Booms
The Interaction of Bankers' Asset and Liability Management with Liquidity Concerns
Learning in speculative bubbles: Theory and experiment
Collateralization and asset price bubbles when investors disagree about risk
Heterogeneous Global Booms and Busts
Speculative bubbles in present-value models: A Bayesian Markov-switching state space approach
Diagnosing housing fever with an econometric thermometer
When a Master Dies: Speculation and Asset Float
What drove the 2003-2006 house price boom and subsequent collapse? Disentangling competing explanations
Diagnostic bubbles
Did technology contribute to the housing boom? Evidence from MERS
Bitcoin: Bubble that bursts or Gold that glitters?
Public Debt Bubbles in Heterogeneous Agent Models with Tail Risk | Published
Experience Does Not Eliminate Bubbles: Experimental Evidence
Returns, volatility and the cryptocurrency bubble of 2017-18
Informational Herding, Optimal Experimentation, and Contrarianism
Market Depth, Leverage, and Speculative Bubbles
Bubbles, Crashes, Ups and Downs in Economic Growth Theory and Evidence
Ascendant altruism and asset price bubbles
Are Bank Bailouts Welfare Improving?
Regressive Welfare Effects of Housing Bubbles
Emerging stock market exuberance and international short-term flows
The effects of a "black swan" event (COVID-19) on herding behavior in cryptocurrency markets
Moderating Macroeconomic Bubbles Under Dispersed Information
Bubbles for Fama from Sornette
China's Housing Bubble, Infrastructure Investment, and Economic Growth
Detecting periodically collapsing bubbles in the S&P 500
Credit Supply and Housing Speculation
Moral Hazard during the Housing Boom: Evidence from Private Mortgage Insurance
Mortgage borrowing and the boom-bust cycle in consumption and residential investment
Heterogeneity, Bubbles and Monetary Policy
Wealth redistribution in bubbles and crashes
Can monetary policy lean against housing bubbles?
Extrapolative Bubbles and Trading Volume
Bubbles and the Value of Innovation | Published
How monetary policy shaped the housing boom
Asset Price Booms and Macroeconomic Policy: A Risk-Shifting Approach
Time-varying impacts of expectations on housing markets across hot and cold phases
Two Types of Asset Bubbles in a Small Open Economy
Bubbly bailout
A model of financial bubbles and drawdowns with non-local behavioral self-referencing
A re-examination of housing bubbles: Evidence from European countries
Herding and China's market-wide circuit breaker
Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect
Predicting the Bubble of Non-Fungible Tokens (NFTs): An Empirical Investigation
Sentiment and Speculation in a Market with Heterogeneous Beliefs
Speculative Bubbles and Talent Misallocation
Rational housing demand bubble
Housing Boom and Headline Inflation: Insights from Machine Learning
A review of Phillips-type right-tailed unit root bubble detection tests
On Speculative Frenzies and Stabilization Policy
Speculation, money supply and price indeterminacy in financial markets: An experimental study
Bubbles and Stagnation | Published
How did house and stock prices respond to different crisis episodes since the 1870s?
Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel
The role of media coverage in the bubble formation: Evidence from the Bitcoin market
Do birds of a feather flock together? Evidence from time-varying herding behaviour of bitcoin and foreign exchange majors during Covid-19
Borrower- and lender-based macroprudential policies: What works best against bank systemic risk?
Herding with leading traders: Evidence from a laboratory social trading platform
Speculation Sentiment
The Good, the Bad, and the Missed Boom
Bubbly firm dynamics and aggregate fluctuations
Asset Bubbles and Inflation as Competing Monetary Phenomena | Published
LTV regulation and housing bubbles
The shortage of safe assets and China's housing boom
Necessity of Rational Asset Price Bubbles in Two-Sector Growth Economies
Commercial Real Estate in Crisis: Evidence from Transaction-Level Data
Bubble Detective: City-Level Analysis of House Price Cycles | Published
Necessity of Rational Asset Price Bubbles in Two Sector Growth Economies
NFT Bubbles
Testing factor models when asset bubbles occur: A time-varying perspective
Rational bubbles: Too many to be true?
Point estimation in sign-restricted SVARs based on independence criteria with an application to rational bubbles
Are the Liquidity and Collateral Roles of Asset Bubbles Different?
A Panel Clustering Approach to Analyzing Bubble Behavior
Asset bubbles, entrepreneurial risks, and economic growth
Herding through booms and busts
Anti-herding by hedge funds and its implications for expected returns
A Three-State Rational Greater-Fool Bubble Model with Consumption Smoothing
A culture of greed: Bubble formation in experimental asset markets with greedy and non-greedy traders
Bubble Necessity Theorem
Credit cycles revisited
House Bubbles, global imbalances and monetary policy in the US
A Comment on Monetary Policy and Rational Asset Price Bubbles
Risk-Taking and Asymmetric Learning in Boom and Bust Markets
Leverage, Endogenous Unbalanced Growth, and Asset Price Bubbles
Optimal Monetary Policy and Rational Asset Bubbles
Testing for explosive bubbles in the presence of non-Gaussian conditions
Is there a national housing market bubble brewing in the United States?
Can housing booms elevate financing costs of financial institutions?
Revisiting speculative hyperinflations in monetary models: A rejoinder
Money is the root of asset bubbles
Multiple-bubble testing in the cryptocurrency market: a case study of bitcoin
Corporate Debt, Boom-Bust Cycles, and Financial Crises
A Simple Trade Policy Perspective on Capital Controls
International Liquidity Illusion: On the Risks of Sterilization
Country Risk and Capital Flow Reversals
Financial Liberalization and Capital Flow Reversals
The swings in capital flows and the Brazilian crisis
Convertibility, Currency Controls and the Cost of Capital in Western Europe, 1950-1999
Credit, Prices, and Crashes: Business Cycles with a Sudden Stop
Abstract: The 1990s emerging-markets crises were characterized by sudden reversals in inflows of foreign capital followed by unusually large declines in current account deficits, private expenditures, production, and prices of nontradable goods relative to tradables. This paper shows that these Sudden Stops can be the outcome of the equilibrium dynamics of a flexible-price economy with imperfect credit markets. Foreign debt is denominated in units of tradables and a liquidity constraint links credit-market access to the income generated in the nontradables sector and the relative price of nontradables. Sudden Stops occur when real shocks of foreign or domestic origin, or policy-induced shocks make this constraint binding. Sudden Stops are not reflected in long-run business cycle statistics but still they entail nontrivial welfare costs. These results question crises-management policies seeking to impose direct controls on private capital flows and favor those that work to weaken credit frictions.
Temporary Controls on Capital Inflows
The Quality of Bureaucracy and Capital Account Policies
Abstract: The extent of bureaucracy varies widely across countries. However, the quality of bureaucracy within a country evolves more slowly than economic policies---such as the imposition of capital controls---which can be implemented quickly. This paper presents the possibility that the quality of bureaucracy may be an important structural determinant of open-economy macro-policies. The imposition/removal of capital controls, in particular, may be one such consequence. We derive a model that delivers such a result. It shows that bureaucratic corruption translates into the reduced ability of government to collect tax revenue. Even if capital control/financial repression is otherwise inefficient, the government still has to rely on capital control/financial repression to raise revenue for public goods provision. For all countries for which we can obtain relevant data, we find that more corrupt countries are indeed more likely to impose capital controls, a pattern consistent with the model’s prediction. To deal with possible reverse causality we use the extent of corruption in a country’s judicial system and the degree of democracy as the instrumental variables (IV) for bureaucratic corruption. The IV regressions show more corrupt countries are associated with more severe capital controls. The results suggest that a premature removal of capital controls mandated by outside institutions could reduce rather than enhance economic efficiency.
A Simple Measure of the Intensity of Capital Controls
Foreign Direct Investment in a World of Multiple Taxes
Capital Controls and Exchange Rate Instability in Developing Economies | Published
Short and Long-Run Integration: Do Capital Controls Matter?
Smoothing Sudden Stops | Published
Private capital flows and poverty reduction: incompatible bedfellows?
The Effects of Capital Controls on Exchange Rate Volatility and Output
Why International Equity Inflows to Emerging Markets are Inefficient and Small Relative to International Debt Inflows
Scrapping capital controls: pro or anti poor?
Capital flight: a blight on growth?
International Capital Crunches: The Time-Varying Role of Informational Asymmetries
Sudden Stops and the Mexican Wave: Currency Crises, Capital Flow Reversals and Output Loss in Emerging Markets | Published
The Influence of Capital Controls on Long Run Growth: Where and How Much? | Published
Location of Investors and Capital Flight
Capital Flows and Crisis: the Role of Credit Market Imperfections
Credits, Crises, and Capital Controls: A Microeconomic Analysis
Capital Account Liberalization and Growth: Was Mr. Mahathir Right?
Explaining Sudden Stops, Growth Collapse and BOP Crises: The Case of Distortionary Output Taxes
Hedging Sudden Stops and Precautionary Recessions: A Quantitative Framework | Published
Inflation Targeting and Sudden Stops
One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smallest Traded Firms | Published
Capital flows to emerging markets
Cross-board listings, capital controls, and equity flows to emerging markets
Exchange Rate Based Stabilization with Sudden Restrictions on Capital Flows
The Intriguing Nexus Between Corruption and Capital Account Restrictions
Modeling the Demand for Emerging Market Assets
Can short-term capital controls promote capital inflows?
Capital Controls: Mud in the Wheels of Market Discipline
Capital Controls, Liberalizations, and Foreign Direct Investment
Financial Liberalisation and Capital Regulation in Open Economies
On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects
Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
Dealing with Destabilizing 'Market Discipline'
Bubbles and Crashes in a Behavioural Finance Model
Growth Effects of the Exchange-Rate Regime and the Capital-Account Openness in A Crisis-Prone World Market: A Nuanced View
A New Set of Measures on Capital Account Restrictions
Banks and Capital Inflows
Capital Control, Speculation and Exchange Rate Volatility
The determination of capital controls: Which role do exchange rate regimes play?
Capital Controls, Risk, and Liberalization Cycles
Managing Macroeconomic Crises
Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices | Published
Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, Or Less? Using Gravity to Establish Causality | Published
Evaluation of Exchange-Rate, Capital Market, and Dollarization Regimes in the Presence of Sudden Stops
Sudden Stop, Financial Factors and Economic Collpase in Latin America: Learning from Argentina and Chile
Sudden Stops and Output Drops | Alternative
Capital Controls, Sudden Stops and Current Account Reversals
Are Asset Price Guarantees Useful for Perventing Sudden Stops?: A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff | Published
A Quantitative Model of Sudden Stops and External Liquidity Management
Crises in Emerging Market Economies: A Global Perspective
What Matters for Financial Development? Capital Controls, Institutions, and Interactions
The Microeconomic Evidence on Capital Controls: No Free Lunch
Capital Controls, Exchange Rate Volatility and External Vulnerability | Published
International Borrowing, Capital Controls and the Exchange Rate: Lessons from Chile
Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects | Published
Robbing the Riches: Capital Flight, Institutions, and Instability
Capital Controls: An Evaluation
Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies
Hedging Sudden Stops and Precautionary Contractions
The Interaction Between Capital Controls and Exchange Rate Regimes: Evidence from Developing Countries
Sudden Stops and IMF-Supported Programs
Sudden Stops and Currency Drops: A Historical Look
Ineffective Controls on Capital Inflows Under Sophisticated Financial Markets: Brazil in the Nineties
Lessons From the Debt-Deflation Theory of Sudden Stops | Published
Output Drops and the Shocks That Matter
Sudden Stops, Financial Crises, and Original Sin in Emerging Countries: Deja vu?
Do Some Forms of Financial Flows Help Protect from Sudden Stops?
The effects of capital controls on international capital flows in the presence of asymmetric information
Output Growth, Capital Flow Reversals and Sudden stop Crises
Cross-border Listings, Capital Controls, and Equity Flows To Emerging Markets
Capital Controls, Capital Flow Contractions, and Macroeconomic Vulnerability | Published
Collective Risk Management in a Flight to Quality Episode
Collateral Damage: Exchange Controls and International Trade | Published
Controls on capital inflows and external shocks
How do Capital Controls Affect the Transmission of Foreign Shocks?
The Effect of Capital Controls on Foreign Direct Investment Decisions Under Country Risk with Intangible Assets
Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism | Published
Capital flight and war
Do China's capital controls still bind? Implications for monetary autonomy and capital liberalisation
Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913 | Published
The Role of Expectations in Sudden Stops
The Duration of Capital Account Crises--An Empirical Analysis
Are Capital Controls in the Foreign Exchange Market Effective? | Published
Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market
Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration
Exchange Rate Pass-Through And Monetary Policy
Mishkin, F.S. (2008)
Understanding International Price Differences Using Barcode Data
Sudden Stops and Optimal Self-Insurance
Crises and Sudden Stops: Evidence from International Bond and Syndicated-Loan Markes
Optimal reserve composition in the presence of sudden stops - the euro and the dollar as safe haven currencies | Published
Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate | Published
Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops | Published
Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q | Published
Imperfect Competition in Financial Markets and Capital Controls: A Model and a Test
Sudden Stops, Banking Crises and Investment Collapses in Emerging Markets | Published
Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy
The Persistence of Capital Account Crises
A double-edged sword: High interest rates in capital-control regimes | Published
Modeling sudden stops: The non-trivial role of preference specifications
Optimal monetary policy in a ‘sudden stop’
The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
When do sudden stops really hurt?
Fear of Fire Sales and the Credit Freeze
Fire Sales in a Model of Complexity
Controlling Capital? Legal Restrictions and the Asset Composition of International Financial Flows | Published
The reversibility of different types of capital flows to emerging markets
Capital Controls and 21st Century Financial Crises: Evidence from Colombia and Thailand
Fire Sales in Finance and Macroeconomics | Published
Capital Controls and Welfare | Published
Liberalization and Regulation of Capital Flows- Lessons for Emerging Market Economies
Managing the Process of Removing Capital Controls: What Does the Literature Suggest? | Published
Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach
Capital Controls and Monetary Policy in Developing Countries
Shifts in Portfolio Preferences of International Investors: An Application to Sovereign Wealth Funds
The illusive quest: do international capital controls contribute to currency stability?
External Finance, Sudden Stops, and Financial Crisis: What is Different This Time?
Sudden Stops, Output Drops, and Credit Collapses
Fiscal and monetary policies and the cost of sudden stops
The Composition Matters: Capital Inflows and Liquidity Crunch during a Global Economic Crisis
Are Capital Controls and Central Bank Intervention Effective?
Growth and Crisis, Unavoidable Connection? | Published
Capital Controls: Myth and Reality - A Portfolio Balance Approach
The Duration of Intermediate Exchange Rate Regimes and Capital Controls
Sudden Stops: Are Global and Local Investors Alike? | Published
Sudden stops and financial frictions: evidence from industry level data |
Fire sale acquisitions: Myth vs. reality
Sudden Flight and True Sudden Stops
Capital Controls: A Meta-analysis Approach
Managing Capital Inflows: The Role of Capital Controls and Prudential Policies
Capital Flow Waves: Surges, Stops, Flight, and Retrenchment
Market Phoenixes and Banking Ducks: Are Recoveries Faster in Market-Based Financial Systems?
Currency crises with the threat of an interest rate defence
An assessment of another decade of capital controls in Colombia: 1998–2008
Effectiveness of Capital Controls in Selected Emerging Markets in the 2000s
Sudden stops, financial frictions, and labor market flows: Evidence from Latin America
Capital Controls and Foreign Exchange Policy
A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation | Published
The New Economics of Capital Controls Imposed for Prudential Reasons
Episodes of Large Capital Inflows and the Likelihood of Banking and Currency Crises and Sudden Stops | Published
The International Regulatory Regime on Capital Flows and Trade in Services
Capital Inflows, Exchange Rate Flexibility, and Credit Booms
Crisis, Capital Controls and Covered Interest Parity: Evidence from China in Transformation
Capital Controls with International Reserve Accumulation: Can this Be Optimal? | Published
Currency crisis: Evolution of beliefs and policy experiments
Exchange Rate Regimes, Capital Controls and the Pattern of Speculative Capital Flows
Capital Controls with International Reserve Accumulation: Can this Be Optimal?
Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls | Published
Monetary and Fiscal Policy Interactions in an Emerging Open Economy Exposed to Sudden Stops Shock: A DSGE Approach
Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop
Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates
Are Global Imbalances Sustainable? Shedding Further Light on the Causes of Current Account Reversals
The Price Theory of Money, Prospero's Liquidity Trap, and Sudden Stop: Back to Basics and Back
Overreaction in capital flows to emerging markets: Booms and sudden stops
Robust policymaking in the face of sudden stops
Capital Controls and Exchange Rate Expectations in Emerging Markets
Capital Controls: Gates versus Walls
Accounting for Reserves
The perils of a central bank's capital control: How substantial is the effect on firm value?
The Federal Reserve, Emerging Markets, and Capital Controls: A High Frequency Empirical Investigation
Why do emerging markets liberalize capital outflow controls? Fiscal versus net capital flow concerns
A theory of rollover risk, sudden stops, and foreign reserves | Published
Capital Controls, Global Liquidity Traps and the International Policy Trilemma
Capital Controls in Brazil - Stemming a Tide with a Signal?
Sudden stops, time inconsistency, and the duration of sovereign debt
Banks' responses to funding liquidity shocks: Lending adjustment, liquidity hoarding and fire sales
Capital controls and international financial stability: a dynamic general equilibrium analysis in incomplete markets
From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications
The effect of capital controls and prudential FX measures on options-implied exchange rate stability
Testing the Effectiveness of Market-Based Controls: Evidence From the Experience of Japan With Short-Term Capital Flows in the 1970s
Country adjustment to a 'sudden stop': Does the euro make a difference?
Banking crises, sudden stops, and the effectiveness of short-term lending
The Mother of All Sudden Stops: Capital Flows and Reversals in Europe, 1919-32
Are Capital Controls Prudential? An Empirical Investigation
Sudden stop regimes and output: a Markov switching analysis
Effectiveness of Capital Outflow Restrictions
Monetary and Macroprudential Policies to Manage Capital Flows
Honor among tax havens
Capital controls as an instrument of monetary policy
Exchange Rate Flexibility and Credit during Capital Inflow Reversals: Purgatory, not Paradise | Published
Welfare Benefits of Capital Controls: The Case of Spain
A New Taxonomy of Sudden Stops: Which Sudden Stops Should Countries Be Most Concerned About? | Published
Capital controls and the resolution of failed cross-border banks: the case of Iceland
A Comparison between Optimal Capital Controls under Fixed Exchange Rates and Optimal Monetary Policy under Flexible Rates
Capital Controls and Recovery from the Financial Crisis of the 1930s | Published
Sudden Stops and Currency Crashes
Capital Controls in the 21st Century
Regulating Capital Flows at Both Ends: Does it Work?
Optimal borrowing constraints and growth in a small open economy
Good News is Bad News: Leverage Cycles and Sudden Stops
Fewer but Better: Sudden Stops, Firm Entry, and Financial Selection | Published
The dilemma of international capital tax competition in the presence of public capital and endogenous growth
The Real Effects of Capital Controls: Financial Constraints, Exporters, and Firm Investment | Published
Capital Controls or Macroprudential Regulation? | Alternative | Published
Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Capital Flow Management Measures: What Are They Good For? | Published
Capital Controls, Monetary Policy, and Balance Sheets in a Small Open Economy
Pick Your Poison: The Choices and Consequences of Policy Responses to Crises
Capital Control Measures: A New Dataset
Capital controls and the real exchange rate: Do controls promote disequilibria? | Published
Capital Control Measures: A New Dataset
Interest Premium, Sudden Stop, and Adjustment in a Small Open Economy
Foreign exchange market pressure and capital controls
Estimation and out-of-sample Prediction of Sudden Stops: Do Regions of Emerging Markets Behave Differently from Each Other?
Capital controls and optimal Chinese monetary policy
Capital Controls and the Cost of Debt
Capital Controls and Welfare with Cross-Border Bank Capital Flows | Published
FDI, debt and capital controls
Fire Sales and Information Advantage: When Informed Investor Helps
Fire Sale Bank Recapitalizations
Do capital controls make gross equity flows to emerging markets less volatile?
Are capital controls countercyclical?
A New Dilemma: Capital Controls and Monetary Policy in Sudden Stop Economies | Published
What's In a Name? That Which We Call Capital Controls
Capital Controls as an Alternative to Credit Policy in a Small Open Economy | Published
Managing Sudden Stops
Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective
Reverse Speculative Attacks | Published
How to regulate bank dividends? Is capital regulation an answer?
Motivations for capital controls and their effectiveness
Currency Wars, Coordination, and Capital Controls
Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?
Capital controls, competitive depreciation, and the technological frontier
On the desirability of capital controls
Managing Capital Outflows: The Role of Foreign Exchange Intervention
Managing Capital Inflows Indirectly? On the Determinants of Monetary Sterilization with Reference to East Asia
Capital Controls and Financial Frictions in a Small Open Economy
Capital Flows, Beliefs, and Capital Controls
Modelling Portfolio Capital Flows in a Global Framework: Multilateral Implications of Capital Controls | Published
Sudden stops of capital flows: Do foreign assets behave differently from foreign liabilities? | Published
Deposit Flight and Capital Controls: A Tale from Greece
Capital Controls and Monetary Policy Autonomy in a Small Open Economy | Published
Capital Flow Deflection | Published
Capital controls and foreign currency denomination
Capital account liberalization and financial deepening: Does the private sector matter?
Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate
International Reserves, Credit Constraints, and Systemic Sudden Stops
Capital Controls and the Cost of Debt
Capital Inflows: The Role of Controls
Capital Controls, Macroprudential Regulation, and the Bank Balance Sheet Channel | Published
Effects of capital controls on foreign exchange liquidity | Published
Have currency-based capital flow management measures curbed international banking flows?
Capital Control, Exchange Rate Regime, and Monetary Policy: Indeterminacy and Bifurcation
Policy Rules for Capital Controls | Published
Flow specific capital controls for emerging markets
Securitization, bank vigilance, leverage and sudden stops
Capital controls as shock absorbers
A Tale of Fire-Sales and Liquidity Hoarding
Capital inflows, crisis and recovery in small open economies
Capital controls, macroprudential measures and monetary policy interactions in an emerging economy
Bank Panics and Fire Sales, Insolvency and Illiquidity
How is the likelihood of fire sales in a crisis affected by the interaction of various bank regulations?
Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy
Capital Flow Management with Multiple Instruments
Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability?
Government Spending during Sudden Stop Crises | Published
Capital Flow Measures: Structural or Cyclical Policy Tools?
Sudden stops, financial frictions, and the banking sector
Monetary policy in sudden stop-prone economies | Published
Credit controls as an escape from the trilemma: The Bretton Woods experience
Financial market activity under capital controls: Lessons from extreme events
Sterilized interventions and capital controls
Capital controls spillovers | Published
International Shadow Banking and Macroprudential Policy | Published
Cross-border Banking and the Circumvention of Macroprudential and Capital Control Measures
Prudential Capital Controls and Risk Misallocation: Bank Lending Channel
A Global Safe Asset for and from Emerging Market Economies
Cournot fire sales
How I Learned to Stop Worrying and Love Fire Sales
Sudden stops of international fund flows: Occurrence and magnitude
Gains from Policy Cooperation in Capital Controls and Financial Market Incompleteness
Capital Controls as Macro-prudential Policy in a Large Open Economy
Monetary policy spillovers, capital controls and exchange rate flexibility, and the financial channel of exchange rates
Evaluating the role of capital controls and monetary policy in emerging market crises
Productivity and Trade Dynamics in Sudden Stops
The Bright Side of Fire Sales
Sudden Stops and Reserve Accumulation in the Presence of International Liquidity Risk
Liquidation, fire sales, and acquirers' private information
In Search of Lost Time: Examining the Duration of Sudden Stops in Capital Flows | Published
Capital Controls and Firm Performance
Investment Commonality across Insurance Companies: Fire Sale Risk and Corporate Yield Spreads
Trend shocks and sudden stops
Capital Controls: Theory and Evidence | Published
SURVEY PAPER
Capital Controls: A Survey of the New Literature
SURVEY PAPER
Capital controls and foreign exchange market intervention
Capital Controls and International Trade: An Industry Financial Vulnerability Perspective
Fettered Cross-Border Capital Flows, External Finance Dependence, and International Trade
How do capital controls affect international trade?
Financial Shocks and Exchange Market Pressure
Flights to Safety
Duration of sudden stop spells: A hazard model approach
Do fire sales create externalities?
Financial Market Incompleteness and International Cooperation on Capital Controls
Simulating fire sales in a system of banks and asset managers | Published
Capital Flow Waves-or Ripples? Extreme Capital Flow Movements Since the Crisis
A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature | Published
Sticky Capital Controls
Spillover effects of capital controls on capital flows and financial risk contagion
Capital Controls and Income Inequality
A Repo Model of Fire Sales with VWAP and LOB Pricing Mechanisms
The Rise in Foreign Currency Bonds: The Role of US Monetary Policy and Capital Controls
The Information Content of Capital Controls
Household Heterogeneity and the Transmission of Foreign Shocks
Sudden stops in the Euro Area: Does monetary union matter?
Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?
Leverage Cycles, Growth Shocks, and Sudden Stops in Capital Inflows
Capital flow deflection under the magnifying glass
Capital controls checkup: Cases, customs, consequence | Published
Mundell meets Poole: Managing capital flows with multiple instruments in emerging economies
Financial crises and sudden stops: Was the European monetary union crisis different?
Fire sales by euro area banks and funds: What is their asset price impact?
Capital inflows and bank stability around the financial crisis: The mitigating role of macro-prudential policies
Global Flight-to-Safety Shocks
Sudden Stops and Optimal Foreign Exchange Intervention
Fire Sales, the LOLR and Bank Runs with Continuous Asset Liquidity
The International Consequences of Bretton Woods Capital Controls and the Value of Geopolitical Stability
Recalibration of capital controls: Evidence from the IMF taxonomy
Fire Sales and Impediments to Liquidity Provision in the Corporate Bond Market
Credit Reversals
Foundations of system-wide financial stress testing with heterogeneous institutions
A Market-Based Solution for Fire Sales and Other Pecuniary Externalities
Interest arbitrage under capital controls: Evidence from reported entrepôt trades
Self-Fulfilling Fire Sales: Fragility of Collateralized Short-Term Debt Markets
Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy
IMF conditionality and capital controls: Capital account liberalization to capital inflow management?
Capital flight: The travel channel
Sovereign default and capital controls
The International Monetary Fund and capital flows
Is capital flow management effective? Evidence based on U.S. monetary policy shocks
Were there fire sales in the RMBS market?
Investment externalities in models of fire sales
Optimal Bank Reserve Remuneration and Capital Control Policy
The Prudential Use of Capital Controls and Foreign Currency Reserves
Unintended Consequences of U. S. Monetary Policy Shocks: Dutch Disease and Capital Flow Measures in Emerging Markets and Developing Economies
Capital Controls and the Global Financial Cycle
Capital Controls and Foreign Reserves against External Shocks: Combined or Alone? | Published
The currency that came in from the cold - Capital controls and the information content of order flow | Published
Sudden Stops, Sovereign Risk, and Fiscal Rules
Capital Controls for Crisis Management Policy in a Global Economy
Preemptive Policies and Risk-Off Shocks in Emerging Markets
Preemptive Policies and Risk-Off Shocks in Emerging Markets
Capital controls and the volatility of the renminbi covered interest deviation
Crypto, Corruption, and Capital Controls: Cross-Country Correlations
Capital controls, corporate debt and real effects
Learning from Noise? Price and Liquidity Spillovers around Mutual Fund Fire Sales
Credit booms and crisis-emergent asset comovement: The problem of latent correlation
Sudden Stops and Optimal Policy in a Two-agent Economy
The Effects of Capital Controls on Housing Prices
Capital Control and Heterogeneous Impact on Capital Flows
Systemic Sudden Stops in Emerging Economies: A Recent Perspective
Information Externalities, Funding Liquidity, and Fire Sales
Fire-sale risk in the leveraged loan market
Sudden Yield Reversals and Financial Intermediation in Emerging Markets
Welfare Effects of Capital Controls
Stagflation and Topsy-Turvy Capital Flows
Guaranteeing Trade in a Severe Crisis: Cash Collateral over Bank Guarantees
Capital Controls in Times of Crisis - Do They Work?
Optimal Monetary and Macroprudential Policies under Fire-Sale Externalities
Do Capital Controls Limit Inflow Surges?
Fire Sales and Bank Runs in the Presence of a Saving Allocation by Depositors
Interbank asset-liability networks with fire sale management
Capital Controls or Macroprudential Regulation: Which is Better for Land Booms and Busts?
Capital Controls and Trade Policy
Which Sectors Go On When There Is a Sudden Stop? An Empirical Analysis
Liquidity bu?ers and open-end investment funds: containing out?ows and reducing fire sales
Self-fulfilling fire sales and market backstops
Macroprudential Policies and Capital Controls Over Financial Cycles
The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability: A General Equilibrium Analysis
Capital Controls and Free-Trade Agreements
Catching up by 'Deglobalizing': Capital account policy and economic growth
Faking trade for capital control evasion: Evidence from dual exchange rate arbitrage in China
Capital flow management and monetary policy to control credit growth
A Theory of Capital Flow Retrenchment
Assessing and mitigating fire sales risk under partial information
Liquidity regulations, bank lending and fire-sale risk
Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany
Surges during sudden stops: Substitution effect between sectoral capital inflows in extreme episodes
Capital controls as a bargaining device: The case of Iceland
Capital regulation induced reaching for systematic yield: Financial instability through fire sales
Financial development and the effectiveness of macroprudential and capital flow management measures
Liquidity buffers and open-end investment funds: Containing outflows or reducing fire sales?
FDI flows and sudden stops in small open economies
Capital controls and the global financial cycle
From abnormal FDI to a normal driver of sudden stop episodes
Contagious Speculative Attacks
Abstract: During the European exchange market turmoil in 1992–1993 it was evident that speculative attacks tended to spread across currencies. Using a two-country version of the model developed by Flood and Garber (1984) we show how a speculative attack against one currency may accelerate the 'warranted' collapse of a second parity. More importantly, even if the parity of the second currency is viable in the absence of a collapse of the first one, it might be subjected to a speculative attack if the reserves available to defend the parity are 'small'.
Contagion and Trade: Why Are Currency Crises Regional?
Abstract: Currency crises tend to be regional; they affect countries in geographic proximity. This suggests that patterns of international trade are important in understanding how currency crises spread, above and beyond any macroeconomic phenomena. We provide empirical support for this hypothesis. Using data for five different currency crises (in 1971, 1973, 1992, 1994, and 1997) we show that currency crises affect clusters of countries tied together by international trade. By way of contrast, macroeconomic and financial influences are not closely associated with the cross-country incidence of speculative attacks. We also show that trade linkages help explain cross-country correlations in exchange market pressure during crisis episodes, even after controlling for macroeconomic factors.
On Crises, Contagion, and Confusion
Abstract: Since the Tequila crisis of 1994-95, the Asian flu of 1997, and the Russian virus of 1998, economists have been busy producing research on the subject of contagion. Yet, few studies have examined empirically through which channels the disturbances are transmitted if there are, indeed, fundamental reasons for the spillovers we observe. We attempt to fill this gap by analyzing how both trade links and the largely ignored financial sector links influence the pattern of fundamentals-based contagion. We examine the role of international bank lending, the potential for cross-market hedging, and bilateral and third-party trade in the propagation of crises.
On Currency Crises and Contagion
Contagion: How to Measure It?
Are Trade Linkages Important Determinants of Country Vulnerability to Crises?
What Drives Contagion: Trade, Neighborhood, or Financial Links?
Crisis and Contagion in East Asia: Nine Lessons
Correlation Analysis of Financial Contagion: What One Should Know Before Running a Test
Abstract: This paper builds a general test of contagion in financial markets based on bivariate correlation analysis - a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return. Using a factor model of returns as theoretical framework, we nest leading contributions in the literature as special cases of our test. We show that, while the literature on correlation analysis of contagion is successful in controlling for a potential bias induced by changes in the variance of global shocks, current tests are conditional on a specific yet arbitrary assumption about the variance of country specific shocks. Our results suggest that, for a number of pairs of country stock markets, the hypothesis of 'no contagion' can be rejected only if the variance of country specific shocks is set to levels that are not consistent with the evidence.
Volatility Dependence and Contagion in Emerging Equity Markets
Pure Contagion and Investors Shifting Risk Appetite: Analytical Issues and Empirical Evidence
Asset Market Linkages in Crisis Periods | Published
International Financial Contagion and the Fund: A Theoretical Framework
Financial Institutions, Contagious Risks, and Financial Crises
Crises in The Global Economy from Tulips to Today: Contagion and Consequences
Determinants of Private Capital Flows in the 1970s and 1990s - Is There Evidence of Contagion?
Testing for contagion using correlations: some words of caution
International Contagion Effects from the Russian Crisis and the LTCM Near-Collapse | Published
Extreme Contagion in Equity Markets
Coordination Failure and Financial Contagion | Published
An empirical analysis of limited recourse project
Some Contagion, Some Interdependence: More Pitfalls in Tests of Financial Contagion | Published
Spreading Currency Crises: The Role of Economic Interdependence | Published
High Frequency Contagion of Currency Crises in Asia
Capital Flows, Country Risk, and Contagion
The Center and the Periphery: The Globalization of Financial Turmoil
Market Integration and Contagion
Contagion of Currency Crises across Unrelated Countries without Common Lender
A Large Speculator in Contagious Currency Crises
Fatal Attraction: A New Measure of Contagion | Published
Testing for Contagion in International Financial Markets: Which Way to Go?
Unanticipated Shocks and Systemic Influences: The Impact of Contagion in Global Equity Markets in 1998
Testing for Financial Contagion between Developed and Emerging Markets during the 1997 East Asian Crisis
Shift Contagion in Asset Markets | Published
Contagion and State Dependent Mutations
The Global Transmission of Volatility in the Foreign Exchange Market
Testing for contagion in international financial markets: which way to go?
Measuring Contagion with a Bayesian Time-Varying Coefficient Model
The Unholy Trinity of Financial Contagion | Published
The Interactions between Debt and Currency Crises: Common Causes or Contagion?
Econometric Issues in the Analysis of Contagion | Published
Contagion, Herding and Exchange Rate Instability - A Survey
High-Frequency Contagion Between the Exchange Rates and Stock Prices
The Asian flu and Russian virus: the international transmission of crises in firm-level data
Empirical Modeling of Contagion: A Review of Methodologies
SURVEY PAPER
Fundamentals and Joint Currency Crises | Alternative
Market Stress and Herding
Exchange Rate Regimes, Globalisation And The Cost Of Capital In Emerging Markets
Managerial Incentives and Financial Contagion
International transmission of stock exchange volatility: Empirical evidence from the Asian crisis
International capital flows and transmission of financial crises
When in Peril, Retrench: Testing the Portfolio Channel of Contagion | Published
Strong Contagion with Weak Spillovers | Published
Abstract: In this paper, we develop a model which explains why events in one market may trigger similar events in other markets, even though at first sight the markets appear to be only weakly related. We allow for multiple equilibria and learning dynamics in each market, and show that a jump between equilibria in one market is contagious because it more than doubles the probability of a similar jump in another market. We claim that contagion is strong since equilibrium jumps become highly synchronized across markets. Spillovers are weak because the instantaneous spillover of events from one market to another is small. To illustrate our result, we demonstrate how a currency crisis may be contagious with only weak links between countries. Other examples where weak spillovers would create strong contagion are various models of monetary policy, imperfect competition and endogenous growth.
Wealth Transfers, Contagion, and Portfolio Constraints
Intra and inter-regional causal linkages of emerging stock markets: evidence from Asia and Latin America in and out of crises
Investment Restrictions and Contagion in Emerging Markets
Measuring common cyclical features during financial turmoil: Evidence of interdependence not contagion
Vanishing Contagion?
Credit risk transfer and contagion
Credit Chains and the Propagation of Financial Distress
Credit contagion and aggregate losses
Expectations and Contagion in Self-Fulfilling Currency Attacks | Published
Is There Hedge Fund Contagion?
Cross-border Bank Contagion in Europe
Are financial spillovers stable across regimes?: Evidence from the 1997 Asian crisis
An empirical study to identify shift contagion during the Asian crisis
Contagion Equilibria in a Monetary Model
Contagion and interdependence: Measuring CEE banking sector co-movements
Informational contagion of bank runs in a third-generation crisis model
Contagion Risk in the International Banking System and Implications for London as a Global Financial Center
The defense of multilateral exchange rate target zones against contagious crises
Deconstructing the Nasdaq bubble: A look at contagion across international stock markets
A simple model of credit contagion
Identification and Estimation in an Incoherent Model of Contagion
Extreme interdependence and extreme contagion between emerging markets
A cautious note on the use of panel models to predict financial crises
Vanishing financial contagion?
Information acquisition and financial contagion
Volatility Spillovers and Contagion from Mature to Emerging Stock Markets | Published
How the Subprime Crisis Went Global: Evidence from Bank Credit Default Swap Spreads | Published
Financial Spillovers to Emerging Markets during the Global Financial Crisis
Spillovers to Emerging Equity Markets: An Econometric Assessment
Crises, contagion and cross-listings
Financial Contagion, Vulnerability and Information Flow: Empirical Identification
The Transmission of Financial Stress from Advanced to Emerging Economies
The Uncertainty Channel of Contagion
Contagion as a domino effect in global stock markets
How to Stop a Herd of Running Bears? Market Response to Policy Initiatives during the Global Financial Crisis
Asset fire sales and purchases and the international transmission of financial shocks
Correlations in Emerging Market Bonds: The Role of Local and Global Factors
Financial globalization, financial crises and contagion
Unobservable shocks as carriers of contagion
Stock market linkages and financial contagion: A cobreaking analysis
Contagion inside the credit default swaps market: The case of the GM and Ford crisis in 2005
Decoupling and Recoupling
Dynamic Correlation Analysis of Financial Spillover to Asian and Latin American Markets in Global Financial Turmoil
Time-varying integration, interdependence and contagion
An empirical analysis of herd behavior in global stock markets
Regionality Revisited: An Examination of the Direction of Spread of Currency Crisis
Testing for Contagion: a Time-Scale Decomposition
The determinants of cross-border bank flows to emerging markets: new empirical evidence on the spread of financial crises
International Transmission of Bank and Corporate Distress
Leverage Constraints and the International Transmission of Shocks
Price of Risk - Recent Evidence from Large Financials
A Markov switching analysis of contagion in the EMS
Credit constraints and the north-south transmission of crises
Systemic risk, financial contagion and financial fragility
Financial Contagion through Bank Deleveraging: Stylized Facts and Simulations Applied to the Financial Crisis
Global financial crisis, extreme interdependences, and contagion effects: The role of economic structure?
Testing for “contagion” of the subprime crisis on the Middle East and North African stock markets: A Markov Switching EGARCH approach
Identifying the Global Transmission of the 2007-09 Financial Crisis in a GVAR Model | Published
Estimating a Structural Model of Herd Behavior in Financial Markets | Published
Financial crises and stock market contagion in a multivariate time-varying asymmetric framework
Risk contagion among international stock markets
Herding and bank runs
The internationalisation of financial crises: Banking and currency crises 1883-2008
International Financial Contagion: the Role of Banks
Running for the Exit: International Banks and Crisis Transmission
Sovereign Rating News and Financial Markets Spillovers: Evidence from the European Debt Crisis
The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises
Spillover Effects of the US Financial Crisis on Financial Markets in Emerging Asian Countries
The Changing International Transmission of Financial Shocks: Evidence from a Classical Time-Varying FAVAR
International Mutual Funds, Capital Flow Volatility, and Contagion-A Survey
SURVEY PAPER
Globalization, financial crisis and contagion: time-dynamic evidence from financial markets of developing countries
Sovereign Spreads and Contagion Risks in Asia
Global crises and equity market contagion
Emerging market crises and US equity market returns
Spillovers from the Euro Area Sovereign Debt Crisis: A Macroeconometric Model Based Analysis
Regionality revisited: An examination of the direction of spread of currency crises
From the Financial Crisis to the Real Economy: Using Firm-level Data to Identify Transmission Channels
On the International Transmission of Shocks: Micro-Evidence from Mutual Fund Portfolios
Liquidity management of U.S. global banks: Internal capital markets in the great recession
Assessing Systemic Trade Interconnectedness - An Empirical Approach
When the Music Stopped: Transatlantic Contagion During the Financial Crisis of 1931
Spatial Spillovers in Emerging Market Spreads
The international propagation of the financial crisis of 2008 and a comparison with 1931
Volatility contagion: A range-based volatility approach
Volatility and covariation of financial assets: A high-frequency analysis
Complexity, concentration and contagion
Stock market interdependence, contagion, and the U.S. financial crisis: The case of emerging and frontier markets
Analysing interconnectivity among economies
Explosive Volatility: A Model of Financial Contagion
Financially constrained arbitrage and cross-market contagion
How globally contagious was the recent US real estate market crisis? Evidence based on a new contagion test
Relative risk aversion and the transmission of financial crises
Transmission of Sovereign Risk in the Euro Crisis | Published
How do credit supply shocks propagate internationally? A GVAR approach
Industry contagion in loan spreads
Liquidity, Risk and the Global Transmission of the 2007-08 Financial Crisis and the 2010-11 Sovereign Debt Crisis
Currency crisis transmission through international trade
The Role of Equity Funds in the Financial Crisis Propagation | Published
International Contagion Through Leveraged Financial Institutions | Published
Financial Integration, Specialization, and Systemic Risk
Transmission of the Financial and Sovereign Debt Crises to the EMU: Stock Prices, CDS Spreads and Exchange Rates | Published
Contagious Adverse Selection
Financial Contagion and Attention Allocation
Gauging potential sovereign risk contagion in Europe
No contagion, only globalization and flight to quality
Global, local, and contagious investor sentiment
Structural contagion and vulnerability to unexpected liquidity shortfalls
International market links and volatility transmission
The EMU sovereign-debt crisis: Fundamentals, expectations and contagion
The more contagion effect on emerging markets: The evidence of DCC-GARCH model
Volatility spillovers and the effect of news announcements
Banking crises and market discipline: International evidence
The "Big C": Identifying Contagion
The Pricing of Sovereign Risk and Contagion during the European Sovereign Debt Crisis | Published
Global Financial Crisis, Financial Contagion, and Emerging Markets
A Critical Review of Contagion Risk in Banking
Financial contagion and the real economy
International herding: Does it differ across sectors?
Investor herds and regime-switching: Evidence from Gulf Arab stock markets
Heterogeneity and cross-country spillovers in macroeconomic-financial linkages
Systemic Risk from Global Financial Derivatives: A Network Analysis of Contagion and Its Mitigation with Super-Spreader Tax
Global Bonding: Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?
Interdependence and contagion in global asset markets | Published
Asset allocation in markets with contagion: The interplay between volatilities, jump intensities, and correlations
Measuring Sovereign Contagion in Europe
Contagion of a liquidity crisis between two firms
Measuring the interconnectedness of financial institutions
Financial shocks and the macroeconomy: heterogeneity and non-linearities
Bank capital, interbank contagion, and bailout policy
Multinational Banking and Financial Contagion: Evidence from Foreign Bank Subsidiaries
Foreign bank presence: Helping or hurting when financial contagion strikes?
Contagion and risk-sharing on the inter-bank market
The effect of the interbank network structure on contagion and common shocks
Uncertainty in an Interconnected Financial System, Contagion, and Market Freezes
Country Transparency and the Global Transmission of Financial Shocks | Published
Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets
Time-Variations in Herding Behavior: Evidence from a Markov switching SUR model
Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion | Published
Bank/sovereign risk spillovers in the European debt crisis
Are Stock Market Crises Contagious? The Role of Crisis Definitions
Financial contagion in the laboratory: The cross-market rebalancing channel
Pure or Wake-up-Call Contagion? Another Look at the EMU Sovereign Debt Crisis
Putting the "C" into crisis: Contagion, Correlations and Copulas on EMU bond markets
Do contagion effects exist in capital flow volatility?
Partial information about contagion risk, self-exciting processes and portfolio optimization
Reputational contagion and optimal regulatory forbearance
How does contagion affect general equilibrium asset prices?
Bank Bailouts, International Linkages, and Cooperation
Global Spillovers into Domestic Bond Markets in Emerging Market Economies
Structural breaks in volatility spillovers between international financial markets: Contagion or mere interdependence?
Are there any contagion effects from Greek bonds?
How Likely is Contagion in Financial Networks?
Imitation and efficient contagion
Herding on fundamental information: A comparative study
Global contagion of market sentiment during the US subprime crisis
Granular Institutional Investors and Global Market Interdependence
Industry characteristics and financial risk contagion
A model of financial contagion with variable asset returns may be replaced with a simple threshold model of cascades
Testing for Financial Contagion Based on a Nonparametric Measure of the Cross-Market Correlation
How do experienced traders respond to inflows of inexperienced traders? An experimental analysis
Financial contagion and asset pricing
Transmission of government default risk in the eurozone
Mandatory Disclosure and Financial Contagion | Published
Extremal Dependence and Contagion
Measuring Bilateral Spillover and Testing Contagion on Sovereign Bond Markets in Europe
What Makes Systemic Risk Systemic? Contagion and Spillovers in the International Sovereign Debt Market
Shock Transmission through International Banks - Evidence from France
Contagion Effects of US Subprime Crisis on ASEAN-5 Stock Markets: Evidence from MGARCH-DCC Application
Pricing default events: Surprise, exogeneity and contagion
Speculative behavior and the dynamics of interacting stock markets
Stability analysis of financial contagion due to overlapping portfolios
A cross-country analysis of herd behavior in Europe
Measuring mutual fund herding - A structural approach Original Research Article
The Effects of News Events on Market Contagion: Evidence from the 2007-2009 Financial Crisis
International Financial Integration and Crisis Contagion | Published
Financial Networks and Contagion
Bank bailouts and bank-sovereign risk contagion channels
Contagion in the European Sovereign Debt Crisis
Sovereign Defaults, Bank Runs, and Contagion
Cocos, Contagion and Systemic Risk
Factors generating and transmitting the financial crisis: The role of incentives: securitization and contagion
An experiment on the causes of bank run contagions
Impact of credit default swaps on financial contagion
Herding on fundamental information: A comparative study
Understanding bank-run contagion
Contagion Risk in the Interbank Market: A Probabilistic Approach to Cope with Incomplete Structural Information
Categories, Creditworthiness, and Contagion: How Investors' Shortcuts Affect Sovereign Debt Markets
Incomplete Integration and Contagion of Debt Distress in Economic Unions | Published
Indirect Contagion in an Originate-to-Distribute Banking Model
Inhomogeneous Financial Networks and Contagious Links
Overlapping portfolios, contagion, and financial stability
Bank networks: Contagion, systemic risk and prudential policy | Published
Deciphering financial contagion in the euro area during the crisis
Measuring stock market contagion: Local or common currency returns?
Sovereign Debt, Bail-Outs and Contagion in a Monetary Union
A model-free test for contagion between crude oil and stock markets
A Wake-Up-Call Theory of Contagion
International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?
The transmission of US systemic financial stress: Evidence for emerging market economies
Mandatory Disclosure and Financial Contagion
The role of U.S. subprime mortgage-backed assets in propagating the crisis:contagion or interdependence?
Modeling financial contagion using mutually exciting jump processes
Endogenous crisis dating and contagion using smooth transition structural GARCH
Contagion, bailouts and welfare impacts of Systemic Risk
Contagion effect of the European financial crisis on China's stock markets: Interdependence and pure contagion
Detecting contagion in a multivariate time series system: An application to sovereign bond markets in Europe
A variance spillover analysis without covariances: What do we miss?
Crisis, contagion and international policy spillovers under foreign ownership of banks
Transmission channels of systemic risk and contagion in the European financial network
Measuring Contagion-Induced Funding Liquidity Risk in Sovereign Debt Markets
Financial Intermediation in a Global Environment
Contagion and banking crisis - International evidence for 2007-2009
Quantifying Contagion Risk in Funding Markets: A Model-Based Stress-Testing Approach
Bank Insolvencies, Priority Claims and Systemic Risk
Nonlinearities and financial contagion in Latin American stock markets
Measuring financial market risk contagion using dynamic MRS-Copula models: The case of Chinese and other international stock markets
Systemic Loops and Liquidity Regulation
The credit quality channel: Modeling contagion in the interbank market
On the study of contagion in the context of the subprime crisis: A dynamic conditional correlation-multivariate GARCH approach
Commonalities and cross-country spillovers in macroeconomic-financial linkages
Short-Term Liquidity Contagion in the Interbank Market
International Transmission of Bubble Crashes in a Two-Country Overlapping Generations
Downside and upside risk spillovers between exchange rates and stock prices
Flight-to-quality and correlation between currency and stock returns
Falling Dominoes: A Theory of Rare Events and Crisis Contagion
Contagion and fire sales in banking networks
Interdependence of foreign exchange markets: A wavelet coherence analysis
Are Banking Shocks Contagious? Evidence from the Eurozone
Crisis Transmission in the Global Banking Network
A model of the topology of the bank - firm credit network and its role as channel of contagion/A>
Realized correlation analysis of contagion
Pricing and hedging of derivatives in contagious markets
Interdependence of foreign exchange markets: A wavelet coherence analysis
Contagion in CDS, banking and equity markets
Causes and hazards of the euro area sovereign debt crisis: Pure and fundamentals-based contagion
Crisis, contagion and international policy spillovers under foreign ownership of banks
Network Contagion and Interbank Amplification during the Great Depression | Published
Contagion in Eurozone sovereign bond markets? The good, the bad and the ugly
Islamic financial markets and global crises: Contagion or decoupling?
Systemic risk: Time-lags and persistence
Financial Contagion in the Laboratory: Does Network Structure Matter?
Financial contagion between the US and selected developed and emerging countries: The case of the subprime crisis
Contagion in Financial Networks
SURVEY PAPER
Bad Bad Contagion | Published
Cross-border transmission of emergency liquidity
Spillover dynamics for systemic risk measurement using spatial financial time series models
Contagion in the world's stock exchanges seen as a set of coupled oscillators
Financial crises and dynamic linkages across international stock and currency markets
Informationally robust trade and limits to contagion
Network security and contagion
Contagion in the EMU - The Role of Eurobonds with OMTs
The anatomy of sovereign risk contagion
Risk assessment based on the analysis of the impact of contagion flow
On cross-border bank credit and the U.S. financial crisis transmission to equity markets
Prime Broker-Level Comovement in Hedge Fund Returns: Information or Contagion?
Liquidity risk contagion in the interbank market
The impact of the European sovereign debt crisis on banks stocks: Some evidence of shift contagion in Europe
Endogenous Bank Networks and Contagion
Sovereign Credit Risk Co-Movements in the Eurozone: Simple Interdependence or Contagion?
Interbank Markets and Credit Policies amid a Sovereign Debt Crisis | Published
Exposure to international crises: trade vs. financial contagion
Financial contagion with spillover effects: a multiplex network approach
The sources of contagion risk in a banking sector with foreign ownership
Euro area government bonds - Fragmentation and contagion during the sovereign debt crisis
Volatility spillovers and determinants of contagion: Exchange rate and equity markets during crises
Empirical Evidence on "Systemic as a Herd": The Case of Japanese Regional Banks
Stopping contagion with bailouts: Micro-evidence from Pennsylvania bank networks during the panic of 1884
Identifying contagion in a banking network
International Spillovers and Local Credit Cycles
Contagion effects of U.S. Dollar and Chinese Yuan in forward and spot foreign exchange markets
Monitoring vulnerability and impact diffusion in financial networks
Financial contagion risk and the stochastic discount factor
Fire sales, indirect contagion and systemic stress testing
Bank-sovereign contagion in the Eurozone: A panel VAR Approach
Spillovers from the United States to Latin American and G7 stock markets: A VAR quantile analysis
Reverse stress testing interbank networks
The effect of heterogeneity on financial contagion due to overlapping portfolios
The kidnapping of Europe: High-order moments' transmission between developed and emerging markets
The effect of heterogeneity on financial contagion due to overlapping portfolios
International spillovers in global asset markets | Published
Individual security, contagion, and network design
Multiple lending, credit lines, and financial contagion
A class of dynamical contagion credit risk models and their applications
Information Contagion and Systemic Risk
The decline of solvency contagion risk
Confounding Dynamics
Global portfolio investment network and stock market comovement
Financial crisis, the real sector and global effects on the African stock markets
Contagion During the Initial Banking Panic of the Great Depression
Multiple lending, credit lines and financial contagion
Risk Sharing and Contagion in Networks
Commodity Connectedness
International banking conglomerates and the transmission of lending shocks across borders
Simulating fire-sales in a banking and shadow banking system
Networks of Volatility Spillovers among Stock Markets
Private-Sector Resolution of Contagion in Financial Networks: Capabilities, Incentives, and Optimal Interbank Networks
An empirical investigation of herding in the U.S. stock market
Financial contagion and volatility spillover: An exploration into Indian commodity derivative market
Sovereign Risk Contagion
Sovereign Credit Risk, Macroeconomic Dynamics, and Financial Contagion: Evidence from Japan
Shock Propagation and Banking Structure
Contagion via Financial Intermediaries in Pre-1914 Sovereign Debt Markets
Global Spillover Effects of US Uncertainty
Systemic Effects of Bank Equity Issues: Competition, Stabilization and Contagion
Are Macroprudential Policies Effective Tools to Reduce Credit Growth in Emerging Markets?
Measuring Dynamic Connectedness with Large Bayesian VAR Models
International risk transmission of stock market movements
Do international investors cause stock market spillovers? Comparing responses of cross-listed stocks between accessible and inaccessible markets
Directional predictability and time-varying spillovers between stock markets and economic cycles
Uncovering equity market contagion among BRICS countries: An application of the multivariate GARCH model
The myth of economic recovery: The case of crises in neighboring countries
Transmission of liquidity shocks: Evidence on cross-border bank ownership linkages
Local currency systemic risk
Spillovers in Risk of Financial Institutions
The international spillovers of the 2010 U.S. flash crash
Identification of global and national shocks in international financial markets via general dynamic factor models
Measuring contagion effects between crude oil and Chinese stock market sectors
Informational Contagion in the Laboratory
Crisis, contagion and international policy spillovers under foreign ownership of banks
Default Contagion Among Credit Types: Evidence from Brazilian data
Evolution of the Global Financial Network and Contagion: A New Approach
International stock market contagion: A CEEMDAN wavelet analysis
Tail systemic risk and contagion: Evidence from the Brazilian and Latin America banking network
Multinational Firms and the International Transmission of Crises: The Real Economy Channel
Financial stress, regime switching and spillover effects: Evidence from a multi-regime global VAR model
How Important Was Contagion Through Banks During the European Sovereign Crisis?
Systemic Effects of Bank Equity Issues: Competition, Stabilization and Contagion
Identifying contagion: A unifying approach
Simulating financial contagion dynamics in random interbank networks | Published
The role of contagion in the transmission of financial stress
On the transmission mechanism of country-specific and international economic uncertainty spillovers: Evidence from a TVP-VAR connectedness decomposition approach
A Contagion through Exposure to Foreign Banks during the Global Financial Crisis
International Spillovers and 'Ex-ante' Efficient Bailouts
What are the Consequences of Global Banking for the International Transmission of Shocks? A Quantitative Analysis
Fluctuating attention and financial contagion
Avoiding the fall into the loop: Isolating the transmission of bank-to-sovereign distress in the euro area and its drivers
Modeling, analysis and mitigation of contagion in financial systems
Strategic fire-sales and price-mediated contagion in the banking system
Volatility spillovers between foreign exchange and stock markets in industrialized countries
Volatility spillovers across global asset classes: Evidence from time and frequency domains
Cojumps and asset allocation in international equity markets
Shock contagion, asset quality and lending behavior
Do information contagion and business model similarities explain bank credit risk commonalities?
A regime switching skew-normal model of contagion
Contagion between asset markets: A two market heterogeneous agents model with destabilising spillover effects
Competitive contagion in networks
The walking debt crisis
Domestic and external sectoral portfolios: Network structure and balance-sheet contagion
CoMap: Mapping Contagion in the Euro Area Banking Sector
Monitoring indirect contagion
A flow network analysis of direct balance-sheet contagion in financial networks
Financial contagion and economic development: An epidemiological approach
Our currency, your attention: Contagion spillovers of investor attention on currency returns
Contagion across US and European financial markets: Evidence from the CDS markets
Cryptocurrency market contagion: Market uncertainty, market complexity, and dynamic portfolios
Shock Propagation and Banking Structure
The Transmission of Shocks in Endogenous Financial Networks: A Structural Approach
Bank and sovereign risk pass-through: Evidence from the euro area
Measuring contagion risk in international banking
Cross-asset contagion in the financial crisis: A Bayesian time-varying parameter approach
Network-based estimation of systematic and idiosyncratic contagion: The case of Chinese financial institutions
Anticipated Financial Contagion
Interconnectedness and Contagion Analysis: A Practical Framework
Intersectoral default contagion: A multivariate Poisson autoregression analysis
Forward-looking solvency contagion
A structural model of interbank network formation and contagion
Using Network Method to Measure Financial Interconnection
Contagion risk in global banking sector
Can Creditor Bail-in Trigger Contagion? The Experience of an Emerging Market
Tree networks to assess financial contagion
Detecting contagion in Asian exchange rate markets using asymmetric DCC-GARCH and R-vine copulas
A Dynamic Default Contagion Model: From Eisenberg-Noe to the Mean Field
Contagion in a network of heterogeneous banks
The interconnected nature of financial systems: Direct and common exposures
Analysis of banks' systemic risk contribution and contagion determinants through the leave-one-out approach
Are banking shocks contagious? Evidence from the eurozone
Interbank contagion: An agent-based model approach to endogenously formed networks
Time-varying dependence in European equity markets: A contagion and investor sentiment driven analysis
Informational Channels of Financial Contagion
The cross-over effect of irrational sentiments in housing, commercial property, and stock markets
The Pecking Order of Segmentation and Liquidity-Injection Policies in a Model of Contagious Crises
Contagion of Fear
COVID-19 and the Welfare Effects of Reducing Contagion
Herding cycles
Liquidity coverage ratio in a payments network: Uncovering contagion paths
Avoiding Sovereign Default Contagion: A Normative Analysis
Branching Networks and Geographic Contagion of Commodity Price Shocks
From physical to financial contagion: the COVID-19 pandemic and increasing systemic risk among banks
Using Network Interbank Contagion in Bank Default Prediction
Cross-border lending and the international transmission of banking crises
The effectiveness of macroprudential policies and capital controls against volatile capital inflows
When the Markets Get COVID: COntagion, Viruses, and Information Diffusion
Contagion risk in african sovereign debt markets: A spatial econometrics approach
Bank contagion in general equilibrium
Local Bankruptcy and Geographic Contagion in the Bank Loan Market
Home Bias and Local Contagion: Evidence from Funds of Hedge Funds
Measuring financial interdependence in asset markets with an application to eurozone equities
Shock Propagation in the Banking System with Real Economy Feedback
Interconnectedness in the global financial market
Assessing cross-border interconnectedness between shadow banking systems
Financial contagion and contagion channels in the forex market: A new approach via the dynamic mixture copula-extreme value theory
The joint spillover index
EMU risk-synchronisation and financial fragility through the prism of dynamic connectedness
Crisis Propagation in a Heterogeneous Self-Reflexive DSGE Model
The quest for multidimensional financial immunity to the COVID-19 pandemic: Evidence from international stock markets
Limit Theorems for Default Contagion and Systemic Risk
Control and Spread of Contagion in Networks
Financial Spillover and Contagion Risks in the Euro Area in 2007-2019
Information Cascades and Social Learning
On the optimal control of interbank contagion in the euro area banking system
Contagious zombies
Exchange rate shocks in multicurrency interbank markets
Hierarchical contagions in the interdependent financial network
Correlations and volatility spillovers between China and Southeast Asian stock markets
On the Economic Fundamentals Behind the Dynamic Equicorrelations among Asset classes: Global Evidence from Equities, Real Estate, and Commodities
Cross-stock market spillovers through variance risk premiums and equity flows
Dynamic linkage between the Chinese and global stock markets: A normal mixture approach
Using Network-based Causal Inference to Detect the Sources of Contagion in the Currency Market
Sources and Transmission of Country Risk
Contagion in networks: Stability and efficiency
Spreading the fear: The central role of CBOE VIX in global stock market uncertainty
The varying spillover of U.S. systemic risk: A functional-coefficient cointegration approach
Contagion accounting in stress-testing
Contagion in Debt and Collateral Markets
Contagion in the Banking Industry: a Robust-to-Endogeneity Analysis
Transnational spillover effects of European sovereign rating signals on bank stock returns
Ripples into waves: Trade networks, economic activity, and asset prices
Asymmetric cyclical connectedness on the commodity markets: Further insights from bull and bear markets
Contagion as a Dealmaker? The Effect of Financial Spillovers on Regional Lending Programs
Temporal networks in the analysis of financial contagion
Contagion and tail risk in complex financial networks
Contagion and information frictions in emerging markets: The role of joint signals
Financial contagion and the wealth effect: An experimental study
A Wake-Up Call Theory of Contagion
Contagion from market price impact: a price-at-risk perspective
Global pandemic crisis and risk contagion in GCC stock markets
Interbank Networks and the Interregional Transmission of Financial Crises: Evidence from the Panic of 1907
Dimensional Reduction of Solvency Contagion Dynamics on Financial Networks
Gold, silver, and the US dollar as harbingers of financial calm and distress
Statistical arbitrage and risk contagion
Financial contagion drivers during recent global crises
Dynamic connectedness between credit and liquidity risks in EMU sovereign debt markets
Who creates and who bears flow externalities in mutual funds?
Discovering the drivers of stock market volatility in a data-rich world
European stock market volatility connectedness: The role of country and sector membership
Interconnectedness and extreme risk: Evidence from dual banking systems
Spreading of cross-market volatility information: Evidence from multiplex network analysis of volatility spillovers
Tracing the International Transmission of a Crisis Through Multinational Firms
What drives cross-border spillovers among sovereign CDS, foreign exchange and stock markets?
Time-frequency comovements between sovereign CDS and exchange rates: The role of sentiments
Investigating the dynamics of crisis transmission channels: A comparative analysis
Systemic risk spillovers and the determinants in the stock markets of the Belt and Road countries
How to reduce the default contagion risk of intercorporate credit guarantee networks? Evidence from China
Estimating the impact of supply chain network contagion on financial stability
Contagion in graphons
News-based economic policy uncertainty and financial contagion: An international evidence
Which Sectors Go On When There Is a Sudden Stop? An Empirical Analysis
Social contagion and the survival of diverse investment styles
Interconnected DeFi: Ripple Effects from the Terra Collapse
Positive Bank-to-Bank Spillovers
Contagion and loss redistribution in crypto asset markets
New Evidence on Spillovers Between Crypto Assets and Financial Markets
Do world stock markets "jump" together? A measure of high-frequency volatility risk spillover networks
Alarming contagion effects: The dangerous ripple effect of extreme price spillovers across crude oil, carbon emission allowance, and agriculture futures markets
Liquidity spillovers in the global stock markets: Lessons for risk management
Shock Infections through Global Value Chains
Contagion in Debt and Collateral Markets
Decentralized and centralized exchanges: Which digital tokens pose a greater contagion risk?
Central Counterparty Default Waterfalls and Systemic Loss
Cross-country Spillovers in Interbank Liquidity Crises
Financial fire sales as continuous-state complex contagion
Financial contagion within the interbank network
Financial Contagion and Financial Lockdowns | Published
When it Rains it Pours: Cascading Uncertainty Shocks
The determinants of systemic risk contagion
Smart systemic-risk scores
Contagion effects of permissionless, worthless cryptocurrency tokens: Evidence from the collapse of FTX
Institutional herding and investor sentiment
Dynamic patterns and the latent community structure of sectoral volatility and jump risk contagion
Global contagion of US COVID-19 panic news
Navigating Market Turbulence: Insights from Causal Network Contagion Value at Risk
Managing portfolio risk during crisis times: A dynamic conditional correlation perspective
Panics and prices
Contagion and equilibria in diversified financial networks
Fiscal Deficits, Exchange Rate Crises and Inflation
The Logic of Currency Crises
Abstract: In this paper it is argued that on cannot adequately understand the recent European currency experience in terms of Krugman's (1979) model. Instead, I present two different models in which crisis and realignment result from the interaction of rational private economic actors and a government that pursues well-defined policy goals.
Mexico's balance-of-payments crisis: a chronicle of death foretold
Abstract: This paper claims that the roots of Mexico's balance-of-payments crisis are found in the prevailing high degree of capital mobility and financial globalization. Under these circumstances, shifts in foreign capital flows and anticipation of a banking system bailout may produce large imbalances between stocks of financial assets and foreign reserves, threatening the sustainability of currency pegs. Econometric analysis suggests that half of Mexico's reserve losses could be accounted for by these phenomena. Large financial imbalances are also fertile ground for self-sulfilling prophesy crises which lead devaluations to produce deep recessions. These difficulties can be partly remedied by appropriate policies.
Leading Indicators of Currency Crises
Fire-Sale FDI
Perspectives on the Recent Currency Crisis Literature
Abstract: Examines the flip side of Asian Flu - rapid foreign acquiring. This is due to Asian firms selling off and currencies plunging.
Paper Tigers? A Model of the Asian Crisis
Abstract: This paper develops an interpretation of the Asian meltdown focused on moral hazard as the common source of overinvestment, excessive external borrowing, and current account deficits. To the extent that foreign creditors are willing to lend to domestic agents against future bail-out revenue from the government, unprofitable projects and cash shortfalls are re-financed through external borrowing. While public deficits need not be high before a crisis, the eventual refusal of foreign creditors to refinance the country's cumulative losses forces the government to step in and guarantee the outstanding stock of external liabilities. To satisfy solvency, the government must then undertake appropriate domestic fiscal reforms, possibly involving recourse to seigniorage revenues. Expectations of inflationary financing thus cause a collapse of the currency and anticipate the event of a financial crisis. The empirical section of the paper presents evidence in support of the thesis that weak cyclical performances, low foreign exchange reserves, and financial deficiencies resulting into high shares of non-performing loans were at the core of the Asian collapse.
The Economics of Currency Crises and Contagion: An Introduction
SURVEY PAPER
Abstract: Two theories of the causes of currency crises prevail in the economic literature. The first traces currency instability to countries' structural imbalances and weak policies; the second identifies arbitrary shifts in market expectations as the principal source of instability. The authors of this article contend that only a synthesis of these theories can capture the complexity of the 1997-98 Asian currency crisis. In their view, the crisis resulted from the interaction of structural weaknesses and volatile international capital markets. The authors also cite two other factors that contributed to the severity of the Asia crisis: inadequate supervision of the banking and financial sectors and the rapid transmission of the crisis across countries linked by trade and common credit sources.
Corruption, Composition of Capital Flows, and Currency Crises
A Currency Crises Model That Works: A Payments Disequilibrium Approach
Portfolio Diversification, Leverage, and Financial Contagion
Safety from Currency Crashes
Currency Instability and Government Change
A Primer on Emerging Market Crises
The double play: simultaneous speculative attacks on currency and equity markets
Currency Crises and Foreign Reserves - A Simple Model
Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises
Does the Current Account Matter?
The Role of Large Players in Currency Crises
Managing Currency Crises in Emerging Markets
CONFERENCE VOLUME
Rescue Packages and Output Losses Following Crises
A Cure Worse Than The Disease? Currency Crises and the Output Costs of IMF-Supported Stabilization Programs
Stopping 'Hot Money' or Signaling Bad Policy? Capital Controls and the Onset of Currency Crises
Does One Soros Make a Difference? A Theory of Currency Crises with Large and Small Traders | Published
Abstract: Do large investors increase the vulnerability of a country to speculative attacks in the foreign exchange markets? To address this issue, we build a model of currency crises where a single large investor and a continuum of small investors independently decide whether to attack a currency based on their private information about fundamentals. Even abstracting from signaling, the presence of the large investor does make all other traders more aggressive in their selling. Relative to the case in which there is no large investors, small investors attack the currency when fundamentals are stronger. Yet, the difference can be small, or null, depending on the relative precision of private information of the small and large investors. Adding signaling makes the influence of the large trader on small traders' behaviour much stronger.
Explaining Currency Crises: A Duration Model Approach | Published
A 'Vertical' Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
Is the Crisis Growing More Severe?
A Simple Model of Monetary Policy and Currency Crises
Exchange Rate Regimes, Capital Flows and Crisis Prevention
The Role of Industrial Country Policies in Emerging Market Crises
Speculative Attacks in the Asian Crisis
Global Games: Theory and Applications
Abstract: Global games are games of incomplete information whose type space is determined by the players each observing a noisy signal of the underlying state. With strategic complementarities, globals games often have a unique, dominance-solvable equilibrium, allowing analysis of a number of models of economic coordination failure. For symmetric binary action global games, equilibrium strategies in the limit (as noise becomes negligible) are simple to characterize in terms of 'diffuse' beliefs over the actions of others. We describe a number of economic applications that fall in this category. We also explore the distinctive roles of public and private information in this setting, review results for general global games, discuss the relationship between global games and a literature in higher order beliefs in game theory and describe the relationship to local interaction games and dynamic games with payoff shocks.
Corporate Financial Policies and Performance Around Currency Crises
Convertibility Risk: The Precautionary Demand for Foreign Currency in a Crisis
Currency Crises and Uncertainty About Fundamentals | Published
How Risky is Financial Liberalization in the Developing Countries?
Predicting Emerging Market Currency Crashes
Exchange Market Pressure, Currency Crises, and Monetary Policy: Additional Evidence from Emerging Markets
Exchange rate overshooting and the costs of floating
Capital Flows to Transition Economies: Master or Servant
Structural Vulnerability and Currency Crises | Published
Stop-Loss Orders and Price Cascades in Currency Markets | Published
Dollarization Of Liabilities And The Value Of Collateral
Fiscal Deficits And Currency Crises
Stabilisations, Crises and the "Exit" Problem - A Theoretical Model
How to avoid self-fulfilling crises
Financial Crises, Monetary Policy and Financial Fragility: A Second-Generation Model of Currency Crises
Interpreting Currency Crises - A Review of Theory, Evidence, and Issues
SURVEY PAPER
An Iron Law of Currency Crises: The Divergence of the Nominal and the Real Exchange Rate and Increasing Current Account Deficits
Currency Crises and Macroeconomic Performance
Currency Attacks with Multiple Equilibria and Imperfect Information: The Role of Wage-setters
Sargent-Wallace Meets Krugman-Flood-Garber, or: Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises | Published
Abstract: This paper argues that the frequent failure of the debt swaps is not an accident. Instead, it follows from fundamental forces driven by the market's assessment of the scarcity of fiscal revenue relative to the demand for fiscal outlays. It follows from the observation that arbitrage forces systematically impact prices in asset markets. Ignoring these price adjustments would lead to too optimistic an assessment of the gains from swaps or buybacks. A by-product of our paper is to highlight the perils of financial engineering that ignores the intertemporal constraints imposed by fiscal fundamentals. As a country approaches the range of partial default (either on domestic or external debt), swaps may not provide the expected breathing room and could even bring the crisis forward. Our methodology combines three independent themes: exchange rate crises as the manifestation of excessive monetary injections [Krugman-Flood-Garber], the fiscal theory of inflation [Sargent-Wallace (1981)], and sovereign debt. The integrated framework derives devaluation and external debt repudiation as part of a public-finance optimizing problem. We shows that under conditions similar to those which prevailed in Russia and Argentina prior to their meltdown, swaps are not just neutral, but could actually make the situation worse and even trigger a speculative attack. An unsettlingly clear implication of the model is that there may be very few options left once public debt reaches levels regarded as unsustainable in relation to fiscal fundamentals. Dollarization only makes matters worse, and pushes the debt write-down option to the fore.
An Eclectic Approach to Currency Crises: Drawing Lessons from the EMS Experience
Are Financially Dollarized Countries More Prone to Costly Crises?
Do high interest rates defend currencies during speculative attacks?
Government Finance in the Wake of Currency Crises | Published
Statistical distributions and the identification of currency crises
Dynamic Speculative Attacks
Uniqueness in Currency Crisis Models
Target zones, reserve crises, and inverted S-curves
Abstract: Recent currency crises have focused attention on models of currency crises. Although many models exist, few focus on intermediate exchange rate systems, and fewer describe the interplay between regime choice and vulnerability to crisis. This paper embeds a target zone model (typifying many intermediate regimes) into a first-generation currency crisis model. This paper shows that an inverted S-curve (where a targeted exchange rate is more volatile than its underlying fundamentals) is generally inconsistent with a viable target zone because such a regime would collapse upon speculative attack. This paper describes conditions where a policymaker could ensure a target zone would weakly stabilize exchange rates and thereby maintain short-run viability.
On the Changing Nature of Currency Crises
Currency attack/defense with two-sided private information
Mixed Signals in Defending the Exchange Rate: What do the Data Say?
Risk and Wealth in a Model of Self-fulfilling Currency Attacks | Published
Are Pegged and Intermediate Regimes More Crisis Prone?
Output Response to Currency Crises | Published
Varieties of Currency Crises | Published
Abstract: The plethora of currency crises around the world has fueled many theories on the causes of speculative attacks. The first-generation models focus on fiscal problems. The second-generation models emphasize countercyclical policies and self-fulfilling crises. In the 1990s, models pinpoint to financial excesses. With the crisis of Argentina in 2001, models of sovereign default have become popular again. While the theoretical literature has emphasized variety, the empirical literature has supported the one size fits all' models. This paper contributes to the empirical literature by assessing whether the crises of the last thirty years are of different varieties. Crises are found to be of six varieties. Four of those varieties are associated with domestic economic fragility. But crises can also be provoked by just adverse world market conditions, such as the reversal of international capital flows. The so-called sudden-stop phenomenon identifies the fifth variety of crises. Finally, a small number of crises occur in economies with immaculate fundamentals but this type of crises is not an emerging-market phenomenon.
Ownership and Control in Outsourcing to China: Estimating the Property-Rights Theory of the Firm
Learning, Large Deviations, And Recurrent Currency Crises
Controlling Currency Mismatches in Emerging Markets
Abstract: In most of the currency crises of the 1990s, the largest output falls have occurred in those emerging economies with large currency mismatches, a phenomenon that occurs when assets and liabilities are denominated in different currencies such that net worth is sensitive to changes in the exchange rate. The authors summarize what is known about the origins of currency mismatching in emerging economies, discuss how best to define and measure currency mismatching, and review policy options for reducing the problem.
Disparate information and the probability of currency crises: empirical evidence
Interest Rate Defenses of Currency Pegs
Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises
The Changing Nature of Currency Crises
The Theory of Global Games on Test: Experimental Analysis of Coordination Games with Public and Private Information
On the Dynamics of Information, Coordination and Regime Change | Published
Abstract: This paper examines how the dynamics of information influences the dynamics of coordination in an environment with strategic complementarities and heterogeneous expectations. We consider a simple dynamic global game of regime change, in which the status quo is abandoned when a sufficiently large fraction of agents attacks it. Applications include bank runs, currency crises, revolutions, and political reforms. We show that the occurrence of coordinated attacks and the timing of regime change depend, not only on the evolution of information, but also on arbitrary self-fulfilling expectations. Despite the indeterminacy in short-run dynamics, long-run outcomes are driven by fundamentals: There is a unique threshold below which regime change is inevitable in the long run. Moreover, all equilibrium paths are characterized by the succession of short phases of high risk of a crisis and long phases of tranquility, which may explain why phenomena such as speculative attacks and revolutions appear as spikes in economic or social activity.
Old and Modern Currency Crises: Short-Term Liabilities, Speculative Attacks and Business Cycle
Government guarantees and self-fulfilling speculative attacks
A corporate balance-sheet approach to currency crises
The Years of Emerging Market Crises: A Review of Feldstein
The Unsustainable US Current Account Position Revealed
Abstract: We show that the when one takes into account the global equilibrium ramifications of an unwinding of the US current account deficit, currently estimated at 5.4% of GDP, the potential collapse of the dollar becomes considerably larger--more than 50% larger--than our previous estimates (Obstfeld and Rogoff 2000a). That global capital markets may have deepened (as emphasized by US Federal Reserve Chairman Alan Greenspan) does not affect significantly the extent of dollar decline in the wake of global current account adjustment. Rather, the dollar adjustment to global current account rebalancing depends more centrally on the level of goods-market integration. Whereas the dollar's decline may be benign as in the 1980s, we argue that the current conjuncture more closely parallels the early 1970s, when the Bretton Woods system collapsed. Finally, we use our model to dispel some common misconceptions about what kinds of shifts are needed to help close the US current account imbalance. Faster growth abroad helps only if it is relatively concentrated in nontradable goods; faster productivity growth in foreign tradable goods is more likely to exacerbate the US adjustment problem.
Recovery from a currency crisis: some stylized facts
Monitoring and Forecasting Currency Crises
Self-Fulfilling Currency Crises: The Role of Interest Rates
An interest rate defense of a fixed exchange rate?
Predicting currency fluctuations and crises: Do resident firms have an informational advantage?
Contractionary Currency Crashes in Developing Countries | Published
Abstract: To update a famous old statistic: a political leader in a developing country is almost twice as likely to lose office in the six months following a currency crash as otherwise. This difference, which is highly significant statistically, holds regardless of whether the devaluation takes place in the context of an IMF program. Why are devaluations so costly? Many of the currency crises of the last 10 years have been associated with output loss. Is this, as alleged, because of excessive reliance on raising the interest rate as a policy response? More likely it is because of contractionary effects of devaluation. There are various possible contractionary effects of devaluation, but it is appropriate that the balance sheet effect receives the most emphasis. Pass-through from exchange rate changes to import prices in developing countries is not the problem: this coefficient fell in the 1990s, as a look at some narrowly defined products shows. Rather, balance sheets are the problem. How can countries mitigate the fall in output resulting from the balance sheet effect in crises? In the shorter term, adjusting promptly after inflows cease is better than procrastinating by shifting to short-term dollar debt, which raises the costliness of the devaluation when it finally comes. In the longer term, greater openness to trade reduces vulnerability to both sudden stops and currency crashes.
Currency crashes and bond yields in industrial countries
Determining Underlying Macroeconomic Fundamentals during Emerging Market Crises: Are Conditions as Bad as they Seem? | Published
How Homogenous are Currency Crises? A Panel Study using Multiple-Response Models
The Role of Domestic and Foreign Investors in a Simple Model of Speculative Attacks
Dynamics of currency crises with asset market frictions
Imperfect Common Knowledge in First Generation Models of Currency Crises
Hedging, Speculation, and Investment in Balance-Sheet Triggered Currency Crises
Macroeconomic Regime Switches and Speculative Attacks | Published
Abstract: This paper explains a currency crisis as an outcome of a switch in how monetary policy and fiscal policy are coordinated. The paper develops a model of an open economy in which monetary policy starts active, fiscal policy starts passive and, in a particular state of nature, monetary policy switches to passive and fiscal policy switches to active. The probability of the regime switch is endogenous and changes over time together with the state of the economy. The regime switch is preceded by a sharp increase in interest rates and causes a jump in the exchange rate. The model predicts that currency composition of public debt affects dynamics of macroeconomic variables. Furthermore, the model is consistent with evidence from recent currency crises, in particular small seigniorage revenues.
Signaling in a Global Game: Coordination and Policy Traps
Fiscal imbalances and the dynamics of currency crises
Real Exchange Rate Misalignment: Prelude to Crisis? | Published
Are Currency Crises Low-State Equilibria? An Empirical, Three-Interest-Rate Model | Published
Exchange Rate Regimes and Currency Crises: an Evaluation using Extreme Value Theory
Trade First and Trade Fast: A Duration Analysis of Recovery from Currency Crisis
Speculative Attacks and Informational Structure: an Experimental Study
Economic growth and currency crisis: A real exchange rate entropic approach
Supply Shocks and Currency Crises: The Policy Dilemma Reconsidered
Model-free Measurement of Exchange Market Pressure | Published
Exchange Market Pressure: Some Caveats In Empirical Applications
Currency crises and foreign credit in emerging markets: credit crunch or demand effect? | Published
The effect of monetary policy on exchange rates during currency crisis: the role of debt, institutions and financial openness | Published
Self-fulfilling currency attacks with biased signals
A note on interest rate defense policy and exchange rate volatility
An event study of institutions and currency crises
The Effect of Monetary Policy on Exchange Rates during Currency Crises; The Role of Debt, Institutions and Financial Openness
Discrete Devaluations and Multiple Equilibria in a First Generation Model of Currency Crises | Published
A Markov-Switching Approach to Measuring Exchange Market Pressure
Do high interest rates defend currencies during speculative attacks? New evidence
Assessing the Effect of Current Account and Currency Crises on Economic Growth
On the determinants of currency crises: The role of model uncertainty | Published
Currency Crises and Monetary Policy in an Economy with Credit Constraints: The No Interest Parity Case
Asymmetric price rigidity and the optimal interest rate defense of the exchange rate: Some evidence for the US
Evaluating currency crises: A Bayesian Markov switching approach
Carry Trades and Currency Crashes
Rate of return parity and currency crises in experimental asset markets
Defending against Speculative Attacks
Abstract: While virtually all modern models of exchange rate crises recognise that the decision to abandon an exchange rate peg depends on how harshly policy makers are willing to defend the regime, they virtually never model how the exchange rate is defended. In this paper we incorporate both the mechanics of speculation and a defence policy against speculation in the well-known currency crisis model of Morris and Shin (American Economic Review 88 (1998) 587-97). After adding these natural elements, our model outperforms standard currency crisis models at explaining stylised features of speculative attacks. Moreover, our model connects the theoretical currency crisis literature to an empirical literature on exchange market pressure, by bringing together its building blocks: exchange rate changes plus counter-acting defence policies. We use this connection to confirm our model's predictions empirically.
The Nonlinear Dynamics of Foreign Reserves and Currency Crises
Can Open Capital Markets Help Avoid Currency Crises?
Currency crashes in industrial countries: much ado about nothing? | Published
The Theoretical Link Between Capital Account Liberalization and Currency Crisis Episodes
A note on estimating realignment probabilities – A first-passage-time approach
Common determinants of currency crises: role of external balance sheet variables
Models of currency crises with self-fulfilling features: A comment
Exchange Rate Regime Choice And Currency Crises | Published
Crash Risk in Currency Markets
Speculative attacks: A laboratory study in continuous time
The ADR shadow exchange rate as an early warning indicator for currency crises
Currency crises and foreign credit in emerging markets: Credit crunch or demand effect?
Experimental analysis on the role of a large speculator in currency crises
Currency Runs, International Reserves Management and Optimal Monetary Policy Rules
Thirty Years of Currency Crises in Argentina: External Shocks or Domestic Fragility?
Exchange rate regimes, capital controls, and currency crises: Does the bipolar view hold?
Carry Trade, Forward Premium Puzzle and Currency Crisis
De facto exchange rate regimes and currency crises: Are pegged regimes with capital account liberalization really more prone to speculative attacks?
Currency Crises and Monetary Policy: A Study on Advanced and Emerging Economies | Published
Do high interest rates deter speculative attacks? – Evidence and some theory
Chronicle of currency collapses: re-examining the effects on output | Published
From the Great Moderation to the global crisis: Exchange market pressure in the 2000s
A Perspective on Predicting Currency Crises
Interdependent bank runs under a collapsing fixed exchange rate regime
Averting Currency Crises: The Pros and Cons of Financial Openness
Which factor bears the cost of currency crises?
Currency Speculation in a Game-Theoretic Model of International Reserves
Assessing the effect of current account and currency crises on economic growth
Currency crises
130 years of fiscal vulnerabilities and currency crashes in advanced economies
Do Currency Crises Cause Capital Account Liberalization?
Exchange market pressure and absorption by international reserves: Emerging markets and fear of reserve loss during the 2008-2009 crisis
Measuring currency pressures: The cases of the Japanese yen, the Chinese yuan, and the UK pound
Extremes, return level and identification of currency crises
Are consistent pegs really more prone to currency crises?
Defending against speculative attacks - It is risky, but it can pay off
Optimal stopping in a model of speculative attacks
To intervene, or not to intervene: Monetary policy and the costs of currency crises
Exchange Market Pressure in OECD and Emerging Economies: Domestic vs. External Factors and Capital Flows in the Old and New Normal
Pegxit Pressure: Evidence from the Classical Gold Standard
Speculative attacks in a two-peg model
Economic costs of alternative monetary policy responses to speculative currency attacks
Defending against speculative attacks: The policy maker's reputation
Real and Financial Shocks, Exchange Rate Regimes and the Probability of a Currency Crisis | Published
Output Costs of Currency Crises: Shocks, Policies and Cycles
Transparency and currency crises
Why Do Currency Crises Recur?
When pegging is a commitment device: Revisiting conventional wisdom about currency crises
Currency collapses and output dynamics in commodity dependent countries
Welfare Costs of Bilateral Currency Crises: The Role of International Trade | Published
The transmission of global monetary and credit shocks on exchange market pressure in emerging markets and developing economies
A Luna-tic Stablecoin Crash
Assessing the resiliency of investors against cryptocurrency market crashes through the leverage effect
The role of international currency spillovers in shaping exchange rate dynamics in Latin America
Credit Cycles
Abstract: We construct a model of a dynamic economy in which lenders cannot force borrowers to repay their debts unless the debts are secured. In such an economy, durable assets play a dual role: not only are they factors of production, but they also serve as collateral for loans. The dynamic interaction between credit limits and asset prices turns out to be a powerful transmission mechanism by which the effects of shocks persist, amplify, and spill over to other sectors. We show that small, temporary shocks to technology or income distribution can generate large, persistent fluctuations in output and asset prices.
International financial markets and the implications for monetary and financial stability
CONFERENCE VOLUME
The Corporate Governance of Banks
Financial Policies and the Prevention of Financial Crises in Emerging Market Economies
Financial Stability and Fiscal Crises in a Monetary Union
Allocating bank regulatory powers: lender of last resort, deposit insurance and supervision
Deposit Insurance Around the Globe: Where Does it Work? | Alternative
Identifying the Predictors for Financial Crisis Using Gibbs Sampler
The Contribution of Domestic and External Factors to Emerging Market Devaluation Crises: An Early Warning Systems Approach
Towards a new early warning system of financial crises | Published
IMF Global Financial Stability Report
IMF Global Financial Stability Report
IMF Global Financial Stability Report
IMF Global Financial Stability Report
Early Warning Systems: A Survey and a Regime-Switching Approach
SURVEY PAPER
International Survey of Integrated Financial Sector Supervision
IMF Global Financial Stability Report
IMF Global Financial Stability Report
Emerging Issues in Banking Regulation
Liquidity Concepts and Financial Instabilities
CONFERENCE VOLUME
Who Needs Foreign Banks?
Tenuous Financial Stability
A Model to Analyse Financial Fragility: Applications
Abstract: The purpose of our work is to explore contagious financial crises. To this end, we use simplified, thus numerically solvable, versions of our general model [Goodhart, Sunirand and Tsomocos (2003)]. The model incorporates heterogeneous agents, banks and endogenous default, thus allowing various feedback and contagion channels to operate in equilibrium. Such a model leads to different results from those obtained when using a standard representative agent model. For example, there may be a trade-off between efficiency and financial stability, not only for regulatory policies, but also for monetary policy. Moreover, agents which have more investment opportunities can deal with negative shocks more effectively by transferring ‘negative externalities’ onto others.
An Option-Based Approach to Bank Vulnerabilities in Emerging Markets
IMF Global Financial Stability Report
Regime switching as an alternative early warning system of currency crises - an application to South-East Asia
Assessing Early Warning Systems: How Have They Worked in Practice?
Autocorrelation-Corrected Standard Errors in Panel Probits: An Application to Currency Crisis Prediction
Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis
Towards a General Theory of Financial Regulation: Predicting, Measuring and Preventing Financial Crises
Toward a Framework for Safeguarding Financial Stability
Managing Volatility and Crises: A Practitioner's Guide Overview
Understanding Financial Vulnerability in Partially Dollarized Economies
IMF Global Financial Stability Report
Rating the rating agencies: Anticipating currency crises or debt crises?
A Taxonomy of Financial Crisis Resolution Mechanisms: Cross-Country Experience
The Corporate Governance of Banks: A Concise Discussion of Concepts and Evidence
Defining Financial Stability
Financial Development, Financial Fragility, and Growth
Extreme Value Theory and the Incidence of Currency Crises
The subordinated debt alternative to Basel II
Macroeconomic Stability in Developing Countries: How Much Is Enough?
The simple economics of bank fragility
A (New) Country Insurance Facility | Published
Interest rate smoothing and financial stability
Ex Ante Carrots instead of Ex Post Sticks: Two Examples
IMF Global Financial Stability Report
Quantitative Analysis of Crisis: Crisis Identification and Causality
Liberalization, Prudential Supervision, and Capital Requirements: The Policy Trade-Offs
Bank Concentration and Fragility: Impact and Mechanics
Measuring and Analyzing Sovereign Risk with Contingent Claims
Financial Development, Financial Fragility, and Growth
Lending Booms and Lending Standards
Strengthening IMF Crisis Prevention
Robust Lessons about Practical Early Warning Systems
Predicting financial crises in emerging markets using a composite non-parametric model
FIRST: A Market-Based Approach to Evaluate Financial System Risk and Stability
Deposit insurance, bank regulation, and financial system risks
Is One Watchdog Better Than Three? International Experience with Integrated Financial Sector Supervision
Are Emerging Market Currency Crises Predictable? - A Test
The Role of IMF Support in Crisis Prevention
IMF Global Financial Stability Report
A New Approach to Modeling Early Warning Systems for Currency Crises : can a machine-learning fuzzy expert system predict the currency crises effectively?
Market-Based Estimation of Default Probabilities and Its Application to Financial Market Surveillance
A New Risk Indicator and Stress Testing Tool: A Multifactor Nth-to-Default CDS Basket
On the duration of the financial system stability under liberalization
An identity crisis? Examining IMF financial programming
Competition and Entry in Banking: Implications for Stability and Capital Regulation
Are More Competitive Banking Systems More Stable?
IMF-Supported Programs and Crisis Prevention: An Analytical Framework
How Do Central Banks Write on Financial Stability?
IMF Global Financial Stability Report
Does the Basle Capital Accord reduce bank fragility? An assessment of the value-at-risk approach
The Limits of Market-Based Risk Transfer and Implications for Managing Systemic Risks
Default, Credit Growth, and Asset Prices
A framework for assessing financial stability?
Financial fragility and economic fluctuations
An "almost-too-late" warning mechanism for currency crises
Long Run Macroeconomic Relations in the Global Economy
Growing Up to Financial Stability
Banking Supervision: Quality and Governance
IMF Global Financial Stability Report
Global Imbalances and Financial Stability | Published
Hedge Funds, Financial Intermediation, and Systemic Risk
Leaning Against the Wind
An 'Almost-Too-Late' Warning Mechanism for Currency Crises
Should Bank Supervisors in Developing Countries Exercise More or Less Forbearance?
IMF Global Financial Stability Report
EU Framework for Safeguarding Financial Stability: Towards an Analytical Benchmark for Assessing its Effectiveness
Can We Predict the Next Capital Account Crisis?
How Well Do Aggregate Bank Ratios Identify Banking Problems?
Leverage Cycles and the Anxious Economy
Abstract: We provide a pricing theory for emerging asset classes, like emerging markets, that are not yet mature enough to be attractive to the general public. We show how leverage cycles can cause contagion, flight to collateral, and issuance rationing in a frequently recurring phase we call the anxious economy. Our model provides an explanation for the volatile access of emerging economies to international financial markets, and for three stylized facts we identify in emerging markets and high yield data since the late 1990s. Our analytical framework is a general equilibrium model with heterogeneous agents, incomplete markets, and endogenous collateral, plus an extension encompassing adverse selection.
Islamic Banks and Financial Stability: An Empirical Analysis
Helping Hand or Grabbing Hand? Supervisory Architecture, Financial Structure and Market View
The Welfare Cost of Banking Regulation
IMF Global Financial Stability Report
Flexible inflation targeting and financial stability: Is it enough to stabilize inflation and output?
The Procyclical Effects of Basel II
Financial Supervisory Independence and Accountability-Exploring the Determinants
Bank Governance, Regulation, and Risk Taking
Bank regulations are changing: for better or worse?
Bank competition and financial stability: friends or foes?
Quality of Regulation and Supervision Around the World
Financial Stability, the Trilemma, and International Reserves
Stress Testing at the IMF
Bank Losses, Monetary Policy and Financial Stability-Evidence on the Interplay from Panel Data
IMF Global Financial Stability Report
A Theory of International Crisis Lending and IMF Conditionality
An Economic Index of Riskiness
Endogenous screening, credit crunches, and competition in laxity
Financial (in)stability, supervision and liquidity injections : a dynamic general equilibrium approach
The Value of Financial Stability
Banking Stability Measures
Securitisation and Financial Stability
On the Paradox of Prudential Regulations in the Globalized Economy: International Reserves and the Crisis a Reassessment
The Use (and Abuse) of CDS Spreads During Distress
Financial (In)stability, Supervision and Liquidity Injections: A Dynamic General Equilibrium Approach
Financial Stability Frameworks and the Role of Central Banks: Lessons from the Crisis
IMF Global Financial Stability Report
Abstract: The global financial system remains under severe stress as the crisis broadens to include households, corporations, and the banking sectors in both advanced and emerging market countries. In normal times, the Global Financial Stability Report aims to prevent crises by highlighting policies that may mitigate systemic risks, thereby contributing to financial stability and sustained economic growth. In the current crisis, the report traces the sources and channels of financial distress and provides policy advice on mitigating its effects on economic activity, stemming contagion, and mending the global financial system.
Financial market stability—A test
Unstable Banking | Published
Financial Stress, Downturns, and Recoveries
Credit Risk Spreads in Local and Foreign Currencies
The Systemic Regulation of Credit Rating Agencies and Rated Markets
Governance Practices at Financial Regulatory and Supervisory Agencies
A Theory of Liquidity and Regulation of Financial Intermediation
Recent Advances in Credit Risk Modeling
The Challenge of Enforcement in Securities Markets: Mission Impossible?
The Real Effects of Financial Sector Risk
Systemic Risk and the Refinancing Ratchet Effect
A framework for assessing the systemic risk of major financial institutions
IMF Global Financial Stability Report
Constructing Forecast Confidence Bands During the Financial Crisis
Cyclical effects of bank capital requirements with imperfect credit markets
Global Market Conditions and Systemic Risk
Excessive Lending, Leverage, and Risk-Taking in the Presence of Bailout Expectations
Regulatory Competition and Bank Risk Taking
Sovereign Wealth Funds and Financial Stability-An Event Study Analysis
Financial Sector Surveillance and the IMF
A Tale of Two Policies: Prudential Regulation and Monetary Policy with Fragile Banks | Published
Financial (in)stability, supervision and liquidity injections: a dynamic general equilibrium approach
Macro Stress Tests and Crises: What Can We Learn?
Financial firm bankruptcy and systemic risk
The New Multi-polar International Monetary System
Crisis Management and Resolution for a European Banking System
Basel Core Principles and Bank Risk: Does Compliance Matter?
IMF Global Financial Stability Report
Balance Sheet Network Analysis of Too-Connected-to-Fail Risk in Global and Domestic Banking Systems
A Framework for Assessing Systemic Risk
Toward a global risk map
Can You Map Global Financial Stability?
The Fundamental Determinants of Credit Default Risk for European Large Complex Financial Institutions
Bank regulation, property prices and early warning systems for banking crises in OECD countries
Detecting and interpreting financial stress in the euro area
Financial Conditions Indexes: A Fresh Look after the Financial Crisis
Central Banks and the Financial System
Why Does Bad News Increase Volatility and Decrease Leverage?
IMF Global Financial Stability Report
Currency Crises Early Warning Systems: why they should be Dynamic
The Squam Lake Report: Fifteen economists in search of financial reform
The Squam Lake Report: Observations from two policy professionals
Financial Sector Regulation and Reforms in Emerging Markets: An Overview
Financial (In)Stability, Supervision and Liquidity Injections: A Dynamic General Equilibrium Approach
A New Index of Currency Mismatch and Systemic Risk
Monetary Policy, Leverage, and Bank Risk-Taking
Managing Public Debt and Its Financial Stability Implications
Into the Great Unknown: Stress Testing with Weak Data
Informational Rents, Macroeconomic Rents, and Efficient Bailouts
Overborrowing, Financial Crises and ‘Macro-prudential’ Policy
A Macroprudential Approach to Financial Regulation
How better monetary statistics could have signaled the financial crisis
The Impact of Cross-Border Banking on Financial Stability
Financial Regulation: Lessons from the Recent Financial Crises
Money, Financial Stability and Efficiency
Over the hedge: exchange rate volatility, commodity price correlations, and the structure of trade
Financial Crises and Macro-Prudential Policies | Published
IMF Global Financial Stability Report
Fat Tails and their (Un)happy Endings: Correlation Bias and its Implications for Systemic Risk and Prudential Regulation
Are Copula-GoF-tests of any practical use? Empirical evidence for stocks, commodities and FX futures
Macroeconomic Costs of Higher Bank Capital and Liquidity Requirements
Illiquid Banks, Financial Stability, and Interest Rate Policy | Published
Systemic Risks and the Macroeconomy
Identifying Vulnerabilities in Systemically-Important Financial Institutions in a Macro-financial Linkages Framework
Bank Behavior in Response to Basel III: A Cross-Country Analysis
Risky Bank Lending and Optimal Capital Adequacy Regulation
IMF Global Financial Stability Report Update
Bank Overleverage and Macroeconomic Fragility
Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses
Systemic Risk and Optimal Regulatory Architecture
Ability of accounting and audit quality variables to predict bank failure during the financial crisis
Joint effect of financial fragility and macroeconomic shocks on bank loan losses: Evidence from Europe
Who Should Supervise? The Structure of Bank Supervision and the Performance of the Financial System
IMF Global Financial Stability Report
What Fuels the Boom Drives the Bust: Regulation and the Mortgage Crisis | Published
CoVaR | Published
Complementing Bagehot: Illiquidity and insolvency resolution
Making Banks Safer: Can Volcker and Vickers Do It?
Systemic Risks in Global Banking: What Available Data can tell us and What More Data are Needed?
Endogenous Credit Cycles | Published
Monetary Policy, Bank Leverage, and Financial Stability | Published
Innovations in Globalized Regulation: Opportunities and Challenges
Has the Global Banking System Become More Fragile over Time?
The Economic Crisis: Did Financial Supervision Matter?
Capital regulation, bank competition, and financial stability
Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information
Macroprudential Policies in Open Emerging Economie
Bank Leverage Regulation and Macroeconomic Dynamics
Inconsistent Regulators: Evidence From Banking
The Role of Central Banks in Financial Stability: How has it changed?
Short-term Wholesale Funding and Systemic Risk: A Global CoVaR Approach | Published
The ECB and the Interbank Market
Measuring Systemic Risk | Published
Does Macro-Pru Leak? Evidence from a UK Policy Experiment
From Stress to CoStress: Stress Testing Interconnected Banking Systems
Systemic Real and Financial Risks: Measurement, Forecasting, and Stress Testing
Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking
IMF Global Financial Stability Report
Econometric measures of connectedness and systemic risk in the finance and insurance sectors
Abstract: We propose several econometric measures of connectedness based on principal-components analysis and Granger-causality networks, and apply them to the monthly returns of hedge funds, banks, broker/dealers, and insurance companies. We find that all four sectors have become highly interrelated over the past decade, likely increasing the level of systemic risk in the finance and insurance industries through a complex and time-varying network of relationships. These measures can also identify and quantify financial crisis periods, and seem to contain predictive power in out-of-sample tests. Our results show an asymmetry in the degree of connectedness among the four sectors, with banks playing a much more important role in transmitting shocks than other financial institutions.
Neglected risks, financial innovation, and financial fragility
Consequences of Asset Shortages in Emerging Markets
A dynamic analysis of bank bailouts and constructive ambiguity
Getting at Systemic Risk via an Agent-Based Model of the Housing Market
Capital Shortfall: A New Approach to Ranking and Regulating Systemic Risks
Privacy-Preserving Methods for Sharing Financial Risk Exposures
Financial Risk Measurement for Financial Risk Management
Liaisons dangereuses: Increasing connectivity, risk sharing, and systemic risk
Systemic Risk and Asymmetric Responses in the Financial Industry
Interbank lending and the spread of bank failures: A network model of systemic risk
'Too interconnected to fail' financial network of US CDS market: Topological fragility and systemic risk
Macro-prudential Policy in a Fisherian Model of Financial Innovation
Bank resilience to systemic shocks and the stability of banking systems: Small is beautiful
Characterising the financial cycle: don't lose sight of the medium term!
The (Other) Deleveraging
Measuring Systemic Liquidity Risk and the Cost of Liquidity Insurance
Measuring Systemic Risk-Adjusted Liquidity (SRL) - A Model Approach
The future and dynamics of global systemically important banks
A New Heuristic Measure of Fragility and Tail Risks: Application to Stress Testing
Algorithm for Identifying Systemically Important Banks in Payment Systems
An Early Warning System to Predict the Speculative House Price Bubbles
Financial integration, specialization, and systemic risk
Efficiency of Central Bank Policy During the Crisis : Role of Expectations in Reinforcing Hoarding Behavior
The impact of the LCR on the interbank money market
A Macroeconomic Model of Endogenous Systemic Risk Taking
Optimal Policy for Macro-Financial Stability | Published
IMF Global Financial Stability Report
Macroeconomic Stability, Financial Stability, and Monetary Policy Rules
Efficient Bailouts?
On policymakers' loss functions and the evaluation of early warning systems
Financial systemic risk: Taxation or regulation?
Systemic Risk and Stability in Financial Networks | Published
Quantifying Systemic Risk
Abstract: In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches.
Measuring Systemic Importance of Financial Institutions: An Extreme Value Theory Approach
Cap and Trade: A Proposal for Containing Systemic Liquidy Risk
Optimal Bank Capital
Early warning for currency crises: what is the role of financial openness? | Published
The impact of banking sector stability on the real economy
Private sector share of external debt and financial stability: Evidence from bank loans
Early warning systems for currency crises: A multivariate extreme value approach
Market-Based Structural Top-Down Stress Tests of the Banking System
IMF Global Financial Stability Report
Sustainable Shadow Banking | Published
Survey of Reserve Managers: Lessons from the Crisis
Assessing systemic risks and predicting systemic events
Bailouts, Time Inconsistency, and Optimal Regulation | Published
Mapping the State of Financial Stability
Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies | Published
Equilibrium Credit: The Reference Point for Macroprudential Supervisors
Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity
Evaluating early warning indicators of banking crises: Satisfying policy requirements
Bailouts and Bank Runs: Theory and Evidence from TARP
SAFE: An early warning system for systemic banking risk
Heterogeneity of the determinants of euro-area sovereign bond spreads; what does it tell us about financial stability?
IMF Global Financial Stability Report
Credibility and Crisis Stress Testing
Welfare Analysis of Policy Measures for Financial Stability
Stress testing credit risk: The Great Depression scenario
Determinants of Financial Stress in Emerging Market Economies
Modeling Banking, Sovereign, and Macro Risk in a CCA Global VAR
Optimal Financial Transaction Taxes
Rules of Thumb for Bank Solvency Stress Testing
Measuring Systemic Risk in a Post-Crisis World
Stress Tests to Promote Financial Stability: Assessing Progress and Looking to the Future
Bailouts and Systemic Insurance
The Federal Reserve and Panic Prevention: The Roles of Financial Regulation and Lender of Last Resort
Market-oriented banking, financial stability and macro-prudential indicators of leverage
A sectoral analysis of the financial instability hypothesis
Inflation Targeters Do Not Care (Enough) about Financial Stability: A Myth?
Predicting Distress in European Banks
The financial crisis and bank-client relationships: Foreign ownership, transparency, and portfolio selection
Procyclicality and the Search for Early Warning Indicators
Financial Soundness Indicators and Banking Crises
Financial stability in open economies
Sovereign Risk and Bank Balance Sheets: The Role of Macroprudential Policies
Bank Regulation and International Financial Stability: A Case against the 2006 Basel Market Risk Framework
The External Balance Assessment (EBA) Methodology
Systemic banks and the lender of last resort
Financial Soundness Indicators and the Characteristics of Financial Cycles
A Macroeconomic Framework for Quantifying Systemic Risk | Published
The impact of preferences on early warning systems - The case of the European Commission's Scoreboard
The Application of Visual Analytics to Financial Stability Monitoring
Which Are the SIFIs? A Component Expected Shortfall Approach to Systemic Risk
A Macroeconomic Framework for Quantifying Systemic Risk
Winners in the spotlight: Media coverage of fund holdings as a driver of flows
The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions
Macroprudential Policies in a Global Perspective
Rating Agencies
Macroprudential Policies as Buffer Against Volatile Cross-border Capital Flows
IMF Global Financial Stability Report
'Too Systemically Important to Fail' in Banking - Evidence from Bank Mergers and Acquisitions
Strengthening Post-Crisis Fiscal Credibility: Fiscal Councils on the Rise - A New Dataset
Comparing the Performance of Logit and Probit Early Warning Systems for Currency Crises in Emerging Market Economies
The Empirics of Banking Regulation
Financial fragility, sovereign default risk and the limits to commercial bank bail-outs
Systemic Risk, Governance and Global Financial Stability
Capital account openness and early warning system for banking crises in G20 countries
On the social usefulness of fractional reserve banking
On the network topology of variance decompositions: Measuring the connectedness of financial firms
Financial stability indicators and public debt developments
Safe Havens, Feedback Loops, and Shock Propagation in Global Asset Prices
After the Fall: Lessons for Policy Cooperation from the Global Crisis
Ms. Muffet, the Spider(gram) and the Web of Macro-Financial Linkages
How to Capture Macro-Financial Spillover Effects in Stress Tests?
Central Bank Communication on Financial Stability
Complex Financial Networks and Systemic Risk: A Review
Real and Financial Vulnerabilities from Crossborder Banking Linkages
Testing macroprudential stress tests: The risk of regulatory risk weights
Bank Size and Systemic Risk
Everything you always wanted to know about systemic importance (but were afraid to ask) | Published
Bank Capital and Systemic Stability
Diversification and systemic risk
Measuring aggregate risk: Can we robustly identify asset-price boom-bust cycles?
How to make regulators and shareholders happy under Basel III
Macro-Prudential Policies to Mitigate Financial System Vulnerabilities
Does Effectiveness of Macroprudential Policies on Banking Crisis Depend on Institutional Structure?
Macroprudential Rules in Small Open Economies
Optimal monetary policy and financial stability in a non-Ricardian economy
On modeling banking risk
Bailouts and Financial Fragility
Financial Innovation and Fragility
Early warning systems and systemic banking crises in low income countries: A multinomial logit approach
Assessing the contribution of banks, insurance and other financial services to systemic risk
Reconsidering Bank Capital Regulation: A New Combination of Rules, Regulators, and Market Discipline
Basel III, Clubs and Eurozone Asymmetries
The impact of financial (de)regulation on current account balances
A new index of financial conditions
IMF Global Financial Stability Report
Monetary policy, financial conditions, and financial stability
Sudden floods, macroprudential regulation and stability in an open economy
Novel three-bank model for measuring the systemic importance of commercial banks
Stability periods between financial crises: The role of macroeconomic fundamentals and crises management policies
Central bank independence and macro-prudential regulation
A Systemic Stress Test Model in Bank-Asset Networks
Interbank Lending and Distress: Observables, Unobservables, and Network Structure
Inside and Outside Collateral: Implications for Financial Market Instability
Systemic risk and bank business models
Banking Competition and Stability: The Role of Leverage
Financial Stability and Interacting Networks of Financial Institutions and Market Infrastructures
The importance of being systemically important financial institutions
Which are the SIFIs? A Component Expected Shortfall approach to systemic risk
Financial fragility in the Great Moderation
An Overview of Macroprudential Policy Tools
SURVEY PAPER
Assessing systemic fragility: A probabilistic perspective
A Simple Macroprudential Liquidity Buffer
Commodity Price Cycles and Financial Stability
Towards a credit network based early warning indicator for crises
To bail-out or to bail-in? Answers from an agent-based model
A Critical Evaluation of Bail-in as a Bank Recapitalisation Mechanism
Bank Systemic Risk-Taking and Loan Pricing: Evidence from Syndicated Loans
The limits of model-based regulation
Price dynamics, financial fragility and aggregate volatility
Leading indicators of systemic banking crises: Finland in a panel of EU countries | Published
Measuring macroeconomic instability: a critical survey illustrated with exports series
Lending Pro-Cyclicality and Macro-Prudential Policy: Evidence from Japanese LTV Ratios
Systemic Risk and Bank Size | Published
What predicts financial (in)stability? A Bayesian approach
Central Banks Voting Records, Financial Crisis and Future Monetary Policy
Modeling Integral Financial Stability Index: A Cross-Country Study
Bailouts And Moral Hazard: How Implicit Government Guarantees Affect Financial Stability
Central Counterparties: Addressing their Too Important to Fail Nature
The Use and Effectiveness of Macroprudential Policies: New Evidence
Toward an early warning system of financial crises: What can index futures and options tell us?
Credit, Financial Stability, and the Macroeconomy
Financial stress and economic dynamics: The transmission of crises
Cheap but flighty: how global imbalances create financial fragility
Uncertainty Aversion and Systemic Risk | Published
When is macroprudential policy effective?
Credit, Financial Stability, and the Macroeconomy
How Did Markets React to Stress Tests?
Banking Concentration and Financial Stability: Evidence from Developed and Developing Countries
Does central clearing reduce counterparty risk in realistic financial networks?
Interconnectedness, Systemic Crises and Recessions
Macro-Prudential Policy under Moral Hazard and Financial Fragility
Government Guarantees and Financial Stability | Published
Does Basel Compliance Matter for Bank Performance?
High Liquidity Creation and Bank Failures
Deleverage and Financial Fragility
Reforming LIBOR and Other Financial Market Benchmarks
Maintaining Central-Bank Financial Stability under New-Style Central Banking
On the impact of leveraged buyouts on bank systemic risk
An entropy-based early warning indicator for systemic risk | Published
Interpreting financial market crashes as earthquakes: A new Early Warning System for medium term crashes
Process Systems Engineering as a Modeling Paradigm for Analyzing Systemic Risk in Financial Networks
Regulating the Financial Cycle: An Integrated Approach with a Leverage Ratio
Economics as energy framework: Complexity, turbulence, financial crises, and protectionism
Policy mandates for macro-prudential and monetary policies in a new Keynesian framework
Does Easing Monetary Policy Increase Financial Instability?
Designing Effective Macroprudential Stress Tests: Progress So Far and the Way Forward
Systemic Risk: A New Trade-off for Monetary Policy?
Banks' Risk Exposures
Bank Bias in Europe: Effects on Systemic Risk and Growth
Systemic Risk, Aggregate Demand, and Commodity Prices
What Matters for Financial Development and Stability?
Placing Bank Supervision in the Central Bank: Implications for Financial Stability Based on Evidence from the Global Crisis
Systemic risk mitigation in financial networks
Equity Recourse Notes: Creating Counter-cyclical Bank Capital
Macroprudential rules and monetary policy when financial frictions matter
The Optimal Tradeoff Between Consumption Smoothing and Macroprudential Regulation
External Balance Sheets as Countercyclical Crisis Buffers
Systemic risk of European banks: Regulators and markets
Estimating Global Bank Network Connectedness
From banks' strategies to financial (in)stability
Rethinking Financial Regulation: How Confusions Have Prevented Progress
Macroprudential Policy in a World of High Capital Mobility: Policy Implications from an Academic Perspective
Macroprudential policy and imbalances in the euro area
Systemic risk in European sovereign debt markets: A CoVaR-copula approach
Phases of Global Liquidity, Fundamentals News, and the Design of Macroprudential Policy | Published
Inflation targeting: Is IT to blame for banking system instability?
Bank Competition and Financial Stability: Much Ado About Nothing?
Regulatory arbitrage in action: evidence from banking flows and macroprudential policy
Estimating the effects of macroprudential policy shocks: A Qual VAR approach
Getting the Dog to Bark: Disclosing Fiscal Risks from the Financial Sector
IMF Global Financial Stability Report
Stress Testing Corporate Balance Sheets in Emerging Economies
Networks, Shocks, and Systemic Risk
The effectiveness of countercyclical capital requirements and contingent convertible capital: a dual approach to macroeconomic stability
Has the financial system become safer after the crisis? The changing nature of financial institution risk
Basel III leverage ratio requirement and the probability of bank runs
March Madness in Wall Street: (What) Does the Market Learn from Stress Tests? | Published
Monetary Policy and Financial Stability: Cross-Country Evidence
Vulnerable banks
When is macroprudential policy effective?
Maintaining Central-Bank Financial Stability under New-Style Central Banking
The safer, the riskier: A model of financial instability and bank leverage
Fragility, stress, and market returns
Systemic Risk in Europe
Financial fragility and distress propagation in a network of regions
Will Macroprudential Policy Counteract Monetary Policy's Effects on Financial Stability?
Do foreign institutional investors stabilize the capital market?
The perennial challenge to counter Too-Big-to-Fail in banking: Empirical evidence from the new international regulation dealing with Global Systemically Important Banks
Macroprudential supervision: from theory to policy
Global Imbalances and Bank Risk-Taking
Regulation and Market Liquidity
Insurance activities and systemic risk
Don't Stand So Close to Me: The role of supervisory style in banking stability
Measuring the Instability of China's Financial System: Indices Construction and an Early Warning System
The Lender of Last Resort Function after the Global Financial Crisis
Measuring the Instability of China's Financial System: Indices Construction and an Early Warning System
Implicit rating: A potential new method to alert crisis on the interbank lending market
Short-Selling Bans and Bank Stability
The Fiscal Costs of Contingent Liabilities: A New Dataset
The information in systemic risk rankings
Liquidity Trap and Excessive Leverage
Too-Big-To-Fail Before the Fed
Too-international-to-fail? Supranational bank resolution and market discipline
Systemic risk, international regulation, and the limits of coordination
CoCo Design, Risk Shifting and Financial Fragility
Systemic risk and the macroeconomy: An empirical evaluation | Published
Subprime Borrowers, Securitization and the Transmission of Business Cycles
Shedding a clearer light on financial stability risks in the shadow banking system
IMF Global Financial Stability Report
Evaluating systemic risk using bank default probabilities in financial networks
Mitigating the Deadly Embrace in Financial Cycles: Countercyclical Buffers and Loan-to-Value Limits
Systemic risk among European banks: A copula approach
Effective Macroprudential Policy: Cross-Sector Substitution from Price and Quantity Measures
Generalized Systematic Risk
Asset Encumbrance, Bank Funding and Financial Fragility | Published
Is financial instability male-driven? Gender and cognitive skills in experimental asset markets
Measuring Systemic Risk Across Financial Market Infrastructures
Monetary shocks, macroprudential shocks and financial stability
Evaluating Systemic Risk using Bank Default Probabilities in Financial Networks
On the limits of macroprudential policy
Financial Fragility and Over-the-Counter Markets | Published
The Great Escape? A Quantitative Evaluation of the Fed's Liquidity Facilities | Published
Countercyclical capital rules for small open economies | Published
Quantitative Easing and Financial Stability
The Run for Safety: Financial Fragility and Deposit Insurance
Credit provision and banking stability after the Great Financial Crisis: The role of bank regulation and the quality of governance
Switching costs and financial stability
Incentivizing Resilience in Financial Networks | Published
The Financial Stability Dark Side of Monetary Policy
Measuring Concentration Risk - A Partial Portfolio Approach
Fire-Sale Externalities
Did the Founding of the Federal Reserve Affect the Vulnerability of the Interbank System to Systemic Risk?
Assessing the costs and benefits of capital-based macroprudential policy
The Global Financial Cycle, Monetary Policies and Macroprudential Regulations in Small, Open Economies
Financial Safety Nets
Network, Market, and Book-Based Systemic Risk Rankings | Published
Optimal Bank Capital Regulation, the Real Sector, and the State of the Economy
Bank size, capital, and systemic risk: Some international evidence
Assessing financial stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) model
A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
A Proposal to Eliminate the Distortions Caused by Bailouts
Information sharing, credit booms, and financial stability
Risk-Consistent Conditional Systemic Risk Measures
Financial Intermediation, Leverage, and Macroeconomic Instability
IMF Global Financial Stability Report: Fostering Stability in a Low-Growth, Low-Rate Era
Do bank bailouts reduce or increase systemic risk? the effects of TARP on financial system stability
A DGSE Model to Assess the Post-Crisis Regulation of Universal Banks
Do banks differently set their liquidity ratios based on their network characteristics?
International prudential policy spillovers: a global perspective
The trade-off between monetary policy and bank stability
Random forests-based early warning system for bank failures
Financial innovation: The bright and the dark sides
Does high-frequency trading increase systemic risk?
Competition and bank stability
The Nexus of Financial Inclusion and Financial Stability: A Study of Trade-Offs and Synergies
Resolution of International Banks: Can Smaller Countries Cope? | Published
Bank Networks and Systemic Risk: Evidence from the National Banking Acts | Published
Bank equity and macroprudential policy
Do hedge funds dynamically manage systematic risk?
Measuring systemic risk using vine-copula
Macroprudential policy under high capital mobility: policy implications from an academic perspective
Macroprudential Policy: Promise and Challenges
Financial Fragility in Monetary Economies
SRISK: A Conditional Capital Shortfall Measure of Systemic Risk
Active risk management and banking stability
Central Bankers as Supervisors: Do Crises Matter?
Macroprudential policy with liquidity panics
Credit default swap spreads and systemic financial risk
The Corporate Complexity of Global Systemically Important Banks
Bank stability and the allocation of liquidity in the banking system
Why countries differ in thin capitalization rules: The role of financial development
Inflation targeting and financial stability in emerging markets
Optimal Monetary and Prudential Policies
Size is everything: Explaining SIFI designations
The impact of the Basel III liquidity coverage ratio on macroeconomic stability: an agent-based approach
Backtesting European Stress Tests
Financial Structure and Instability in an Open Economy
Optimal Capital Regulation
Taming macroeconomic instability: Monetary and macro-prudential policy interactions in an agent-based model
Are Basel's Capital Surcharges for Global Systemically Important Banks Too Small?
Financial Cycles with Heterogeneous Intermediaries
Where the Risks Lie: A Survey on Systemic Risk
Banks, market organization, and macroeconomic performance: An agent-based computational analysis
Basel III capital surcharges for G-SIBs are far less effective in managing systemic risk in comparison to network-based, systemic risk-dependent financial transaction taxes
Does Prolonged Monetary Policy Easing Increase Financial Vulnerability?
Countercyclical Capital Regulation in a Small Open Economy DSGE Model
Bank Capital Redux: Solvency, Liquidity, and Crisis | Published
Mapping the Interconnectedness between EU Banks and Shadow Banking Entities
Efficiency and stability of a financial architecture with too-interconnected-to-fail institutions
System stress testing of bank liquidity risk
Policy, Risk and Spillover Analysis in the World Economy: A Panel Dynamic Stochastic General Equilibrium Approach
Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks?
Systemic risk and individual risk: A trade-off?
IMF Global Financial Stability Report
Credibility of History-Dependent Monetary Policies and Macroeconomic Instability
Selloffs, bailouts, and feedback: Can asset markets inform policy?
Macroprudential Liquidity Stress Testing in FSAPs for Systemically Important Financial Systems
Lasso Regressions and Forecasting Models in Applied Stress Testing
Capital regulation and the macroeconomy: Empirical evidence and macroprudential policy
Macroprudential policies, capital flows, and the structure of the banking sector
The international dimensions of macroprudential policies
The Optimal Response of Bank Capital Requirements to Credit and Risk in a Model with Financial Spillovers
Towards Macroprudential Stress Testing: Incorporating Macro-Feedback Effects
The Disturbing Interaction between Countercyclical Capital Requirements and Systemic Risk
Financial Stability Analysis: What are the Data Needs?
Optimal Regulation of Financial Intermediaries | Pubished
Macroprudential Policy Spillovers : A Quantitative Analysis
A Risk-centric Model of Demand Recessions and Macroprudential Policy
Macroprudential policy and bank risk | Published
Mapping heat in the U.S. financial system
Back to the Future: The Nature of Regulatory Capital Requirements
The Nonlinear Interaction Between Monetary Policy and Financial Stress
The Tradeoffs in Leaning Against the Wind
Cyber Risk, Market Failures, and Financial Stability
Back to the Future: Backtesting Systemic Risk Measures during Historical Bank Runs and the Great Depression | Published
Banks' Liquidity Management and Systemic Risk
Portfolio diversification and systemic risk in interbank networks
Systemic Risk in Financial Systems: a feedback approach | Published
Financial intermediaries' instability and euro area macroeconomic dynamics
Financial Vulnerability and Monetary Policy
Macroprudential Policy, Countercyclical Bank Capital Buffers, and Credit Supply: Evidence from the Spanish Dynamic Provisioning Experiments
Bail-ins and Bail-outs: Incentives, Connectivity, and Systemic Stability | Published
Liquidity Policies and Systemic Risk
Calibrating Macroprudential Policy to Forecasts of Financial Stability
Systemic risk in clearing houses: Evidence from the European repo market
IMF Global Financial Stability Report
Resaleable debt and systemic risk
Interconnectedness of Global Systemically-Important Banks and Insurers
Systemic Risk: A New Trade-Off for Monetary Policy?
Optimal Bank Regulation in the Presence of Credit and Run Risk | Published
Countercyclical prudential tools in an estimated DSGE model
An integrated shortfall measure for Basel III
Shadow Banking and the Four Pillars of Traditional Financial Intermediation | Published
Does going easy on distressed banks help economic growth?
Uncertainty, systemic shocks and the global banking sector: Has the crisis modified their relationship?
Contractual Externalities and Systemic Risk
Financial Stability in Europe: Banking and Sovereign Risk
Capital Requirements for Government Bonds - Implications for Financial Stability
The two faces of interbank correlation
Minskey Models: A Structured Survey
Design of Macro-prudential Stress Tests
Cross-country spillovers from macroprudential regulation: Reciprocity and leakage | Published
A new IV approach for estimating the efficacy of macroprudential measures | Published
Financial shocks, financial stability, and optimal Taylor rules
Optimal monetary and macroprudential policies: Gains and pitfalls in a model of financial intermediation
Macroprudential policy with convertible debt
Monetary and macroprudential policy with foreign currency loans
CoCo Issuance and Bank Fragility | Published
Financial Spillovers and Macroprudential Policies
Risk Management and Regulation
Monetary policy and long-run systemic risk-taking
Financial Fragility and the Keynesian Multiplier
The Persistence of Financial Distress | Published
Shadow Banking and Market Discipline on Traditional Banks
R&D, growth, and macroprudential policy in an economy undergoing boom-bust cycles | Published
Capturing macroprudential regulation effectiveness: A DSGE approach with shadow intermediaries
Macroprudential policy and foreign interest rate shocks: A comparison of different instruments and regulatory regimes
Can macroprudential measures make cross-border lending more resilient?
Can Macroprudential Measures Make Cross-Border Lending More Resilient? Lessons from the Taper Tantrum | Published
Measuring the systemic importance of banks
RiskRank: Measuring interconnected risk
Friend or Foe? Cross-Border Linkages, Contagious Banking Crises, and "Coordinated" Macroprudential Policies
Household Credit, Global Financial Cycle, and Macroprudential Policies : Credit Register Evidence from an Emerging Country
Overleveraging, Financial Fragility, and the Banking-Macro Link: Theory and Empirical Evidence
Monitoring Banking System Fragility with Big Data | Published
News and narratives in financial systems: exploiting big data for systemic risk assessment
The interaction between monetary and macroprudential policy: should central banks "lean against the wind" to foster macro-financial stability?
Central Bank Reserve Management and International Financial Stability-Some Post-Crisis Reflections
Pitfalls in the Use of Systemic Risk Measures
Resaleable debt and systemic risk
A Leverage-Based Measure of Financial Stability
Household Credit, Global Financial Cycle, and Macroprudential Policies; Credit Register Evidence from an Emerging Country
Monetary and Macroprudential Policies in a Leveraged Economy
Systematic risk, bank moral hazard, and bailouts
Credit-based early warning indicators of banking crises in emerging markets
Leverage-A Broader View
Market Discipline and Systemic Risk
When Do We Repair the Roof? Insights from Responses to Fiscal Crisis Early Warning Signals
IMF Global Financial Stability Report
The Economics of Supranational Bank Supervision
Short-Term Debt and Bank Risk
The effects of global bank competition and presence on local economies: The Goldilocks principle may not apply to global banking
On Fairness of Systemic Risk Measures
Systemic risk in the US: Interconnectedness as a circuit breaker
How ETFs Amplify the Global Financial Cycle in Emerging Markets | Published
The Stabilizing Role of Net Foreign Asset Returns
The Interplay between Regulations and Financial Stability
What's the value of a TBTF guaranty? Evidence from the G-SII designation for insurance companies?
When panic makes you blind: a chaotic route to systemic risk | Published
Interconnectedness and systemic risk of China's financial institutions
Systemic risk network of Chinese financial institutions
Regulating the doom loop
Does Financial Tranquility Call for Stringent Regulation?
Government Debt and Banking Fragility: The Spreading of Strategic Uncertainty
Macroprudential policy instruments and procyclicality of loan-loss provisions - Cross-country evidence
Macrofinancial imbalances in historical perspective: A global crisis index
Bail-in vs. Bailout: a False Dilemma?
Does Financial Tranquility Call for Stringent Regulation?
Determining size thresholds for the Too-Small-To-Survive and the Too-Big-To-Fail banks
Macroprudential policy and income inequality
Targeting financial stability: macroprudential or monetary policy?
Legal Protection: Liability and Immunity Arrangements of Central Banks and Financial Supervisors
Bank capital shocks and countercyclical requirements: Implications for banking stability and welfare
Bank Resolution and the Structure of Global Banks | Published
Resolving "Too Big to Fail"
A General Equilibrium Appraisal of Capital Shortfall
The Macroeconomic Effectiveness of Bank Bail-ins
Banks' Liquidity Management and Financial Fragility
Assessing systemic risk due to fire sales spillover through maximum entropy network reconstruction
Stress tests and information disclosure
A Theory of Government Bailouts in a Heterogeneous Banking System
Macroprudential Stress Tests and Policies: Searching for Robust and Implementable Frameworks
Did the Fed Respond to Liquidity Shortage Episodes During the Great Depression?
Destabilizing Effects of Bank Overleveraging on Real Activity--An Analysis Based on a Threshold MCS-GVAR
Implicit Bank Debt Guarantees: Costs, Benefits and Risks
SURVEY PAPER
The Costs of Macroprudential Policy | Published
Corporate governance of banks and financial stability
IMF Global Financial Stability Report
Macroprudential Policy with Leakages
Financial Openness, Bank Capital Flows, and the Effectiveness of Macroprudential Policies
Bank Holdings and Systemic Risk
The Differential Impact of Bank Size on Systemic Risk
Fintech, regulatory arbitrage, and the rise of shadow banks
Monetary and Macroprudential Policy Coordination Among Multiple Equilibria | Published
On the ranking consistency of global systemic risk measures: empirical evidence
Monetary Easing, Investment and Financial Instability
Exploring the implications of different loan-to-value macroprudential policy designs
Central bank disclosure as a macroprudential tool for financial stability
Tail event driven networks of SIFIs
Macroprudential Policy in the New Keynesian World
An Early Warning System for Systemic Banking Crises: A Robust Model Specification
The leverage ratio, risk-taking and bank stability
Macroprudential margins: a new countercyclical tool?
The Micro Impact of Macroprudential Policies: Firm-Level Evidence
Dynamic Consequences of Monetary Policy for Financial Stability
Ignorant Experts and Financial Fragility
Systemic risk governance in a dynamical model of a banking system
Systemic Risk and the Great Depression
Regulatory responses to banking crisis: Lessons from Japan
The regulatory response to the sovereign-bank nexus
Capital regulation: What is an appropriate minimum level?
The interplay between liquidity regulation, monetary policy implementation and financial stability
Predicting European bank stress tests: Survival of the fittest
Bank Profitability and Financial Stability
Margin requirements and systemic liquidity risk
Corporate Debt, Firm Size and Financial Fragility in Emerging Markets | Published
Global Banking, Financial Spillovers, and Macroprudential Policy Coordination
Systemic Risk: Conditional Distortion Risk Measures
What Can We Learn from the Implementation of Monetary and Macroprudential Policies: A Systematic Literature Review
SURVEY PAPER
Macroprudential Policy with Capital Buffers
Monetary Policy, Macroprudential Policy, and Financial Stability
Measuring network systemic risk contributions: A leave-one-out approach
Understanding flash crash contagion and systemic risk: A micro-macro agent-based approach
The Drivers of Hedge Fund Interconnectedness
Macroprudential Interventions in Liquidity Traps
Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database
Systemic risk and competition revisited
Financial Regulation: Still Unsettled a Decade after the Crisis
Tracking Financial Fragility
Bailouts: The lesser of two evils?
Identifying Systemically Important Banks: A temporal approach for macroprudential policies
Is financial inclusion good for bank stability? International evidence
Shadow banking and financial regulation: A small-scale DSGE perspective
Monetary Easing, Investment and Financial Instability
Conceptual Issues in Calibrating the Basel III Countercyclical Capital Buffer
Does the lack of financial stability impair the transmission of monetary policy? | Published
On the Instability of Banking and Financial Intermediation
Winter is possibly not coming: Mitigating financial instability in an agent-based model with interbank market | Published
Taming Financial Development to Reduce Crises | Published
Bank Leverage, Welfare, and Regulation
Macroprudential Policy and Bank Systemic Risk
Assessing the macroeconomic impact of alternative macroprudential policies
Permutation entropies of short?term interest rates as an early?warning signal
Interconnectedness in the interbank market
Systematic extreme downside risk
Cross-border effects of prudential regulation: evidence from the euro area
Prudential Monetary Policy
Heterogeneous effects of the implementation of macroprudential policies on bank risk
The Bank-Sovereign Loop and Financial Stability in the Euro Area
House Prices, (Un)Affordability and Systemic Risk
Quest for robust optimal macroprudential policy
Informality and bank stability
The broad policy toolkit for financial stability: Foundations, fences, and fire doors
Systemic Risk and Collateral Adequacy
External debt financing and macroeconomic instability in emerging market economies
Financial Stability Implications of Policy Mix in a Small Open Commodity-Exporting Economy
Bank Assets, Liquidity and Credit Cycles
Macroprudential Regulation and Leakage to the Shadow Banking Sector
Fiscal Risk and Financial Fragility
Monetary policy, macroprudential policy, and financial stability
Liquidity Ratios as Monetary Policy Tools: Some Historical Lessons for Macroprudential Policy
Finding the Bad Apples in the Barrel: Using the Market Value of Equity to Signal Banking Sector Vulnerabilities
Macroprudential Regulation and Leakage to the Shadow Banking Sector
(Un)Conventional monetary policy and bank risk-taking: A nonlinear relationship
Do reserve requirements reduce the risk of bank failure?
Inflation Targeting, Credit Flows, and Financial Stability in a Regime Change Model
The Riskiness of Credit Allocation and Financial Stability
Macroprudential policy spillovers and international banking - Taking the gravity approach
Fiscal distress and banking performance: The role of macroprudential regulation
Income inequality, consumer debt, and prudential regulation: An agent-based approach to study the emergence of crises and financial instability
Optimal Policy for Macro-Financial Stability
Integrating Solvency and Liquidity Stress Tests: The Use of Markov Regime-Switching Models
Informality, Frictions, and Macroprudential Policy
Liquidity Transformation and Financial Fragility: Evidence from Funds of Hedge Funds
Macro-prudential taxation in good times
Macroprudential Ring-Fencing
Micro-prudential regulation and banks' systemic risk
Credit, capital and crises: a GDP-at-Risk approach
Growth and Welfare Effects of Macroprudential Regulation
Sovereign Risk in Macroprudential Solvency Stress Testing
Interconnected banks and systemically important exposures | Published
Dynamic Interpretation of Emerging Risks in the Financial Sector
The Distortive Effects of Too Big To Fail: Evidence from the Danish Market for Retail Deposits
Office Market Interconnectedness and Systemic Risk Exposure
Bail-in regulation and stock market reaction
Networks and systemic risk in the financial system
Shadow banking and financial stability under limited deposit insurance
The SHERLOC: an EWS-based index of vulnerability for emerging economies
Macroprudential policies, corporate governance and bank risk: Cross-country evidence
Financial stability, growth and macroprudential policy
Should Monetary Policy Target Financial Stability? | Published
Predicting Downside Risks to House Prices and Macro-Financial Stability
Reconstructing and stress testing credit networks
Market Structure and Financial Stability: Theory and Evidence
Bank instability: Interbank linkages and the role of disclosure
Looking through systemic credit risk: Determinants, stress testing and market value
Structural Differences in the Eurozone: Measuring Financial Stability by FCI
Macroeconomic impact of Basel III: Evidence from a meta-analysis
Sectoral risk-weights and macroprudential policy
Does size matter? Bailouts with large and small banks
How connected is the global sovereign credit risk network?
Systemic Risk Modeling: How Theory Can Meet Statistics
The impact of the Basel III liquidity ratios on banks: Evidence from a simulation study
Credit, banking fragility and economic performance
An early warning system for predicting systemic banking crises in the Eurozone: A logit regression approach
Bank-based versus market-based financing: Implications for systemic risk
Optimal Bailouts and the Doom Loop with a Financial Network | Published
Financial Stability Committees and Basel III Macroprudential Capital Buffers
Banks to basics! Why banking regulation should focus on equity
The Macroprudential Role of Stock Markets
Effects of macroprudential policies on bank lending and credit risks
The Effects of Macroprudential Policy on Banks' Profitability
The Interaction Between Macroprudential Policy and Financial Stability
Systemic Credit Freezes in Financial Lending Networks
SME lending and banking system stability: Some mechanisms at work
Bank Regulation under Fire Sale Externalities
In Search of Distress Risk in Emerging Markets
The Rise of Shadow Banking: Evidence from Capital Regulation | Published
Abstract: We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed effects, and shocks to capital requirements arising from surprise features of the U.S. implementation of Basel III. We find that less-capitalized banks reduce loan retention, particularly among loans with higher capital requirements and at times when capital is scarce, and nonbanks step in. This reallocation is associated with important adverse effects during the 2008 crisis: loans funded by nonbanks with fragile liabilities are less likely to be rolled over and experience greater price volatility.
Risk Spillovers and Interconnectedness between Systemically Important Institutions
Foundations of system-wide financial stress testing with heterogeneous institutions
The safe asset, banking equilibrium, and optimal central bank monetary, prudential and balance-sheet policies
Banking stress test effects on returns and risks
Institutional Diversity in Domestic Banking Sectors and Bank Stability: A Cross-Country Study
Bank Complexity, Governance, and Risk
Foreign Banks, Liquidity Shocks, and Credit Stability
The Anatomy of the Transmission of Macroprudential Policies
The costs of macroprudential deleveraging in a liquidity trap
Central bank independence and systemic risk
Liquidity Regulation and Financial Stability
Financial Vulnerability and Risks to Growth in Emerging Markets
Liquidity at Risk: Joint Stress Testing of Solvency and Liquidity | Published
When Banks Punch Back: Macrofinancial Feedback Loops in Stress Tests | Published
Effects of Macroprudential Policy: Evidence from Over 6,000 Estimates
Macroprudential Policies, Economic Growth, and Banking Crises
Collateral rehypothecation, safe asset scarcity, and unconventional monetary policy
Bank Heterogeneity and Financial Stability
What is the tipping point? Low rates and financial stability
Diversification and bank stability
How Effective is Macroprudential Policy? Evidence from Lending Restriction Measures in EU Countries
Welfare analysis of bank merger with financial instability
Identifying indicators of systemic risk | Published
Systemic Risk: a Network Approach
The Macroeconomic Effects of Macroprudential Policy: Evidence from a Narrative Approach
The International Aspects of Macroprudential Policy
Cross-border spillovers of macroprudential policy in the Euro area
A historical loss approach to community bank stress testing
Systematic stress tests on public data
Risk shifting and the allocation of capital: A Rationale for macroprudential regulation
Rethinking capital regulation: the case for a dividend prudential target
The intertwining of credit and banking fragility
Global Banks' Dollar Funding: A Source of Financial Vulnerability
Macroprudential policy in the presence of external risks
Macroprudential and monetary policies: The need to dance the Tango in harmony
The simpler the better: measuring financial conditions for monetary policy and financial stability
Economic uncertainty and bank risk: Evidence from emerging economies
International Coordination of Macroprudential Policies with Capital Flows and Financial Asymmetries
Backtesting macroprudential stress tests | Published
Prudential policies and bailouts - a delicate interaction
Regulatory Arbitrage and Economic Stability
Measuring Global Financial Market Stresses
Real effects of foreign exchange risk migration: Evidence from matched firm-bank microdata
On the effects of macroprudential policies on Growth-at-Risk
Corporate Debt Overhang and Credit Policy
Sovereign risk and bank fragility
Conditional Systemic Risk Measures
The Financial (In)Stability Real Interest Rate, R**
Rules versus Discretion in Bank Resolution
Friend or foe: The divergent effects of FinTech on financial stability
How do banking groups react to macroprudential policies? Cross-border spillover effects of higher capital buffers on lending, risk-taking and internal markets
The Impact of Policy Interventions on Systemic Risk across Banks
Financial stability policies and bank lending: quasi-experimental evidence from Federal Reserve interventions in 1920-21
Central Bank Digital Currency: When Price and Bank Stability Collide
Systemic Risk in Financial Networks: A Survey
Managing Macrofinancial Risk
On the origin of systemic risk
Exchange Rates and Domestic Credit-Can Macroprudential Policy Reduce the Link?
Global Banks' Dollar Funding: A Source of Financial Vulnerability
Monetary and Macroprudential Policy with Endogenous Risk
China's Model of Managing the Financial System
Assessing the cyclical behaviour of bank capital buffers in a finance-augmented macro-economy
Economic policy uncertainty and financial stability-Is there a relation?
Interactions and Coordination between Monetary and Macroprudential Policies
A model-based index for systemic risk contribution measurement in financial networks
Macroprudential policy and the inward transmission of monetary policy: The case of Chile, Mexico, and Russia
Bank liquidity creation and systemic risk
The macroprudential toolkit: effectiveness and interactions
Systemic risk shifting in financial networks
Measurement of common risks in tails: A panel quantile regression model for financial returns
Systematic risk, debt maturity, and the term structure of credit spreads
Savings Gluts and Financial Fragility
Financial Destabilization
The link between the federal funds rate and banking system distress: An empirical investigation
Macroprudential policy interactions in a sectoral DSGE model with staggered interest rates
Reserve requirements and financial stability
Short-Selling Bans and Bank Stability
Salience, systemic risk and spectral risk measures as capital requirements
SRISKv2 - A note
Macroprudential Regulation in the Post-Crisis Era: Has the Pendulum Swung Too Far? | Published
The Unholy Trinity: Regulatory Forbearance, Stressed Banks and Zombie Firms
Strengthening Bank Regulation and Supervision; National Progress and Gaps
The importance of technology in banking during a crisis | Published
Do macroprudential policies affect non-bank financial intermediation?
Systemic risk allocation using the asymptotic marginal expected shortfall
Finding a needle in a haystack: Do Early Warning Systems for Sudden Stops work?
The Role of Macroprudential Policy in Times of Trouble
Feedbacks: Financial Markets and Economic Activity
Leaning against the Wind and Crisis Risk
News and narratives in financial systems: Exploiting big data for systemic risk assessment
Prudential Policy with Distorted Beliefs
Optimal Monetary and Macroprudential Policies
Does alternative finance moderate bank fragility? Evidence from the euro area
Toothless tiger with claws? Financial stability communication, expectations, and risk-taking
Monetary and Macroprudential Policies under Dollar-Denominated Foreign Debt
On the effectiveness of macroprudential policy
The Anatomy of the Transmission of Macroprudential Policies
Is COVID-19 a threat to financial stability in Europe?
Macro- and Microprudential Policies: Sweet and Lowdown in a Credit Network Agent-Based Model
What determines wholesale funding costs of the global systemically important banks?
Monetary, financial and fiscal fragility in 2020s
Macroprudential Policy and the Sovereign-Bank Nexus in the Euro Area
State ownership, macroprudential policies, and bank lending
Counterparty Choice, Bank Interconnectedness, and Systemic Risk
Did Basel regulation cause a significant procyclicality?
The Bank Liquidity Channel of Financial (In)stability
The Side Effects of Safe Asset Creation
Reversal interest rate and macroprudential policy | Published
Bank Cleanups, Capitalization, and Lending: Evidence from India
A Model-Based Comparison of Macroprudential Tools
Concentration-stability vs concentration-fragility: New cross-country evidence
Traders, forecasters and financial instability: A model of individual learning of anchor-and-adjustment heuristics
Comparing minds and machines: implications for financial stability
Financial Risk Capacity
Stress Tests, Entrepreneurship, and Innovation
Regulation of bank proprietary trading post 2007-09 crisis: An examination of the Basel framework and Volcker rule
Regulatory and bailout decisions in a banking union
Financial condition indices for emerging market economies: can Google help?
Safe-Asset Shortages: Evidence from the European Government Bond Lending Market
The impact of regulatory reforms for systemically important institutions, defined as "other" (O-SII)
How do institutional settings condition the effect of macroprudential policies on bank systemic risk?
Systemic risk and severe economic downturns: A targeted and sparse analysis
On the predictive power of network statistics for financial risk indicators
How useful is market information for the identification of G-SIBs?
Central bank balance sheet and systemic risk
What Quantity of Reserves Is Sufficient?
Computing the Probability of a Financial Market Failure: A New Measure of Systemic Risk
The Effects of Banking Competition on Growth and Financial Stability: Evidence from the National Banking Era
Asset securitizations and bank stability: Evidence from different banking systems
Transition to Islamic equities: Systematic risk and Shari'ah compliance
The Effects of Banking Competition on Growth and Financial Stability: Evidence from the National Banking Era
Uncertainty shocks and systemic-risk indicators
Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle | Published
Monetary policy or macroprudential policies: What can tame the cycles?
Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms
SURVEY PAPER
Measuring systemic risk in the global banking sector: A cross-quantilogram network approach
The power and influence of rating agencies with insights into their misuse
Machine-Learning-enhanced systemic risk measure: A Two-Step supervised learning approach
Identifying systemically important financial institutions in complex network: A case study of Chinese stock market
The Real Consequences of Macroprudential FX Regulations
The Costs and Benefits of Liquidity Regulations: Lessons from an Idle Monetary Policy Tool
IMF Global Financial Stability Report
U.S. banks' lending, financial stability, and text-based sentiment analysis
Money Market Fund Vulnerabilities: A Global Perspective
Financial turbulence, systemic risk and the predictability of stock market volatility
Competition in dual markets: Implications for banking system stability
Global systemically important banks regulation: Blessing or curse?
Market power and bank systemic risk: Role of securitization and bank capital
The role of shadow banking in systemic risk in the European financial system
Early warning or too late? A (pseudo-)real-time identification of leading indicators of financial stress
Dynamic comovement among banks, systemic risk, and the macroeconomy
On the optimal design of a financial stability fund
When could Macroprudential and Monetary Policies be in Conflict?
Bank lending and small and medium-sized enterprises' access to finance - Effects of macroprudential policies
Bank regulation, supervision and liquidity creation
Supervisory enforcement actions against banks and systemic risk
Artificial intelligence and systemic risk
Do contingent convertible bonds reduce systemic risk?
Liquidity, Liquidity Everywhere, Not a Drop to Use - Why Flooding Banks with Central Bank Reserves May Not Expand Liquidity
Bank board network and financial stability in emerging markets
Early Warning Performance of Univariate Credit-to-GDP Gaps
Asymmetric Systemic Risk
Enhancing Stress Tests by Adding Macroprudential Elements
Taxes, Risk Taking, and Financial Stability
Macroprudential Regulation and Sector-Specific Default Risk
Financial Regulation in a Quantitative Model of the Modern Banking System
Multinational Banks and Financial Stability
Government intervention through informed trading in financial markets
Robust Optimal Macroprudential Policy
Causes of fragile stock market stability
Liquidity regulation, banking history and financial fragility: An experimental examination
Do Capital Requirements Make Banks Safer? Evidence From a Quasinatural Experiment
Fragility of Safe Asset Markets
Overborrowing and Systemic Externalities in the Business Cycle Under Imperfect Information
Banking networks, systemic risk, and the credit cycle in emerging markets
Credit risk interdependence in global financial markets: Evidence from three regions using multiple and partial wavelet approaches
Macroprudential regulation of investment funds
Macroprudential policy and the role of institutional investors in housing markets
Interbank credit exposures and financial stability
Safe asset shortage and collateral reuse
Augmented credit-to-GDP gap as a more reliable indicator for macroprudential policy decision-making By Tihana Skrinjari?
IMF Global Financial Stability Report
Global banks and systemic risk: The dark side of country financial connectedness
Examining macroprudential policy and its macroeconomic effects - Some new evidence
Economic integration and exchange market pressure in a policy uncertain world
Risk Sharing Externalities
External Wealth of Nations and Systemic Risk
A tale of three crises: synergies between ECB tasks
Capital requirements and banks' behavior: Evidence from bank stress tests
Monetary and macroprudential policy coordination with biased preferences
Systemwide Liquidity Stress Testing Tool
Desirable Banking Competition and Stability
Macro-financial stability frameworks: experience and challenges
The global financial cycle and macroeconomic tail risks
Systemic fragility in decentralised markets
House Price Expectations, Household Indebtedness and Macroprudential Policy in a DSGE framework
Preventing financial disasters: Macroprudential policy and financial crises
Re-use of collateral: Leverage, volatility, and welfare
Macroprudential Policies in Response to External Financial Shocks
Why do banks use credit default swaps (CDS)? A systematic review
Loan-to-value limits as a macroprudential policy tool: Developments in theory and practice
An evolution of global and regional banking networks: A focus on Japanese banks' international expansion
The Economics of Supranational Bank Supervision
Differential Effects of Macroprudential Policy
Overborrowing, Underborrowing, and Macroprudential Policy
Quasi-Fiscal Implications of Central Bank Crisis Interventions
Accounting for PD-LGD dependency: A tractable extension to the Basel ASRF framework
How to foresee crises? A new synthetic index of vulnerabilities for emerging economies
Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?
Credit behavior and financial stability in an emerging economy
Institutional determinants of the effective tax rate in G7 and BRIC countries
Loan guarantees, bank underwriting policies and financial stability
Dampening global financial shocks: can macroprudential regulation help (more than capital controls)?
The Estimation Risk in Extreme Systemic Risk Forecasts
Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility
Government intervention, linkages and financial fragility
Large Banks and Systemic Risk: Insights from a Mean-Field Game Model
Macro-prudential policy, its alignment with monetary policy and house price growth: A cross-country study
Banking regulation and banks' risk-taking behavior: The role of investors' protection
Bail-in and bank funding costs
On the Nexus of Monetary Policy and Financial Stability: Novel Asset Market Monitoring Tools for Building Economic Resilience and Mitigating Financial Risks
Macro-Prudential Stress Test Models: A Survey
Quality is our asset: The international transmission of liquidity regulation
Systemically important banks - emerging risk and policy responses: An agent-based investigation
What is the most prominent reserve indicator that forewarns currency crises?
Crises have shaped the European Central Bank
Quantifying financial stability trade-offs for monetary policy: a quantile VAR approach
The Market Price of Risk and Macro-Financial Dynamics
The Economics of Financial Stress
Measuring systemic financial stress and its risks for growth
Anomaly Detection in Global Financial Markets with Graph Neural Networks and Nonextensive Entropy
Liquidity Constraints, Consumption, and Debt Repayment: Evidence from Macroprudential Policy in Turkey
Adjusting to Macroprudential Policies: Loan-to-Value Limits and Housing Choice
Assessing Macrofinancial Risks from Crypto Assets
On a lender of last resort with a central bank and a stability Fund
Capital Regulations and the Management of Credit Commitments during Crisis Times
IMF Global Financial Stability Report
A Theory of Safe Asset Creation, Systemic Risk, and Aggregate Demand
The Design of Macroprudential Stress Tests
Policy uncertainty and bank systemic risk: A perspective of risk decomposition
Financial Stress and Economic Activity: Evidence from a New Worldwide Index
CEO social connections and bank systemic risk: The "dark side" of social networks
Margins, debt capacity, and systemic risk
Macroprudential stress test models: a survey
Monetary policy and financial stability
Optimizing systemic risk through credit network reconstruction
A Multilayer View of Systemic Importance and Aggregate Fluctuations
Stressed Banks? Evidence from the Largest-Ever Supervisory Review
Deposit Convexity, Monetary Policy and Financial Stability
BEAST: A model for the assessment of system-wide risks and macroprudential policies
The impact of COVID-19 related policy interventions on international systemic risk
Implications of central bank digital currency for financial stability: Evidence from the global banking sector
The Dark Side of the Moon? Fintech and Financial Stability
Slow recoveries, endogenous growth and macro-prudential policy
Dynamic bank capital regulation in the presence of shadow banks
The costs of macroprudential deleveraging in a liquidity trap
A systematic review of early warning systems in finance
Monetary Tightening, Commercial Real Estate Distress, and US Bank Fragility
The transmission of macroprudential policy in the tails: evidence from a narrative approach
Financial stability considerations in the conduct of monetary policy
Set-valued intrinsic measures of systemic risk
Retail Central Bank Digital Currencies: Implications for Banking and Financial Stability
What is the optimal capital ratio implying a stable European banking system?
Modeling your stress away
Government guarantees and bank liquidity creation around the world
Securitization, shadow banking system and macroprudential regulation: A DSGE approach
Banking supervision with loopholes
Economic policy uncertainty and bank stability: Size, capital, and liquidity matter
Leveraged finance exposure in the banking system: Systemic risk and interconnectedness
Credit rating downgrades and systemic risk
Borrower-based macroprudential measures and credit growth: How biased is the existing literature?
Stress tests and model monoculture
Should macroprudential policy be countercyclical?
Integration and Financial Stability: A Post-Global Crisis Assessment
The Cost of Bank Regulatory Capital
Macroprudential Policy, Mortgage Cycles, and Distributional Effects: Evidence from the United Kingdom
Macroprudential regulation and bank risk: The role of shareholders' and creditors' rights
Modeling Systemic Risk: A Time-Varying Nonparametric Causal Inference Framework
Cyclical systemic risk and banks' vulnerability
Macroprudential Policies and Dollarisation: Implications for the Financial System and a Cross-Exchange Rate Regime Analysis
Systemic risk and financial networks
Forecasting international financial stress: The role of climate risks
Connectedness between central bank digital currency index, financial stability and digital assets
Macroeconomic Crises since 1870 | Published
On the Size Distribution of Macroeconomic Disasters | Published
Crises and Recoveries in an Empirical Model of Consumption Disasters | Published
Can Cross-Border Financial Markets Create Endogenously Good Collateral in a Crisis?
After the Fall
Shocks and Crashes
Credit Risk and Disaster Risk
Does Microfinance Work as a Recovery Tool After Disasters? Evidence from the 2004 Tsunami
Asset Pricing under Rational Learning about Rare Disasters
Rare Macroeconomic Disasters
Disaster Risk and Business Cycles
Economic Depression in the World
Endogenous Economic Disasters and Asset Prices
Unemployment Crises | Published
Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments
Exogenous Shocks and Growth Crises in Low-Income Countries: A Vulnerability Index
Conventional and Insidious Macroeconomic Balance-Sheet Crises
Tipping points in macroeconomic agent-based models
News, disaster risk, and time-varying uncertainty
Microeconomic Origins of Macroeconomic Tail Risks | Published
Health and Unemployment during Macroeconomic Crises
Towards a General Theory of Deep Downturns
Credit frictions and the cleansing effect of recessions
Health Effects of Economic Crises
Solution Methods for Models with Rare Disasters
Deep Recessions and Slow Recoveries
Do Rare Events Explain CDX Tranche Spreads?
Innovations Lead to Economic Crises
Disaster Risk and Asset Returns: An International Perspective | Published
News implied volatility and disaster concerns
Growth-Rate and Uncertainty Shocks in Consumption: Cross-Country Evidence
Rare shocks vs. non-linearities: What drives extreme events in the economy? Some empirical evidence
In good times and bad - Reciprocal behavior at the workplace in times of economic crises
Tracing out capital flows: How financially integrated banks respond to natural disasters
The Financing of Ideas and the Great Deviation
Financial Regulation and Endogenous Macroeconomic Crises
Income distribution and economic crises
Endogenous Disasters
Predicting Fiscal Crises
Income distribution and economic crises
Macroprudential capital regulation in general equilibrium
How Do Banks React to Catastrophic Events? Evidence from Hurricane Katrina
The adjustment effect of the extensive margin on the terms of trade during economic crises
A Keynes + Schumpeter model to explain development, speculation and crises
Macroeconomic Outcomes in Disaster-Prone Countries
Macroeconomic disasters and the equity premium puzzle: Are emerging countries riskier?
The Coronavirus and the Great Influenza Pandemic: Lessons from the "Spanish Flu" for the Coronavirus's Potential Effects on Mortality and Economic Activity
The Macroeconomics of Epidemics
Mitigating Disaster Risks to Sustain Growth
Pandemic Recession: L or V-Shaped?
Using Disasters to Estimate the Impact of Uncertainty
Uncertainty and Growth Disasters | Published
Earthquakes and Economic Growth
The predicting abilities of social trust and good governance on economic crisis duration
Optimal Management of a Pandemic in the Short Run and the Long Run
How economic crises damage potential output - Evidence from the Great Recession
Uncertainty and Growth Disasters
Predicting catastrophe risk: Evidence from catastrophe bond markets
Rare disasters, the natural interest rate and monetary policy
Rare events and long-run risks
Fear, lockdown, and diversion: Comparing drivers of pandemic economic decline 2020
Rare disaster probability and options pricing
Local scars of the US housing crisis
The Hammer and the Dance: Equilibrium and Optimal Policy during a Pandemic Crisis
Revisiting the process of aggregate growth recovery after a capital destruction
Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
The welfare costs of uncertainty: Cross-country evidence
Disastrous Defaults
How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic
The Market Events of Mid-September 2019
Large Current Account Deficits and Neglected Vulnerabilities
The economic impacts of direct natural disaster exposure
Are IMF rescue packages effective? A synthetic control analysis of macroeconomic crises
A Cautionary Tale of Fat Tails
The Fear Economy: A Theory of Output, Interest, and Safe Assets
Seven finance and trade lessons from Covid-19 for future pandemics
Does economic complexity reduce the probability of a fiscal crisis?
Persistent Crises and Levered Asset Prices
Quantum monte carlo for economics: Stress testing and macroeconomic deep learning
Impact of systemic risk regulation on optimal policies and asset prices
Viral shocks to the world economy
Disaster resilience and asset prices
Stress Testing and Bank Lending
Disclosure of Bank-Specific Information and the Stability of Financial Systems
Sovereign Liquidity Crisis: The Strategic Case for A Payments Standstill
Sovereign liquidity crises: analytics and implications for public policy
An Alternative Tax on Cross-Border Investment
Bond Restructuring and Moral Hazard: Are Collective Action Clauses Costly?
Competition and Intervention in Sovereign Debt Markets
Early Ideas on Sovereign Bankruptcy Reorganization: A Survey
SURVEY PAPER
Odious Debt
Bankruptcy Procedures for Sovereigns: A History of Ideas, 1976-2001
Sovereign Defaults: The Role of Volatility
Sovereign Debt Restructuring Mechanism - Further Considerations
A Fiscal Theory of Sovereign Risk
Sovereign Credit Ratings Methodology: An Evaluation
A Brazilian-Type Debt Crisis: Simple Analytics | Published
Anticipating Credit Events using Credit Default Swaps, with an Application to Sovereign Debt Crises
Rating the Rating Agencies: Anticipating Currency Crises or Debt Crises
Speculative attacks on debts and optimum currency area: A welfare analysis
Exchange Rate Policy and Debt Crises in Emerging Economies
Recovery Rates from Distressed Debt - Empirical Evidence from Chapter 11 Filings, International Litigation, and Recent Sovereign Debt Restructurings
Crisis Resolution: Next Steps | Revised
Predicting Sovereign Debt Crises
Sovereign Credit Ratings and Their Impact on Recent Financial Crises
Bail out or work out? theoretical considerations
Debt Crises and the Development of International Capital Markets
Sovereign Debt Defaults and Financing Needs
Stochastic Optimal Control Modeling of Debt Crises
Abstract: What is an optimal or a sustainable external debt - for a country, region or sector? How should one monitor and evaluate debt to preclude a crisis? We use stochastic optimal control/dynamic programming to derive an optimal debt. The deviation of the actual from the optimal will serve as a Warning Signal of a crisis. There is a correspondence between Hamilton-Jacobi-Bellman equation of Dynamic Programming and the static Mean-Variance (M-V) analysis in finance. A graphic analysis of M-V is helpful to explain the implications of DP. An explicit example is the US Agricultural debt crisis.
Can Debt Crises Be Self-Fulfilling? | Published
Debt Maturity and the International Financial Architecture | Published
Sovereign Debt: Default, Market Sanction, and Bailout
Sovereign default and the sustainability risk premium effect
Optimal Debt and Equilibrium Exchange Rates in a Stochastic Environment: an Overview
Resolution of Sovereign Debt Crises: The New Old Framework
"Rules of Thumb" for Sovereign Debt Crises | Published
Overpricing in Emerging Market Credit-Default-Swap Contracts: Some Evidence from Recent Distress Cases
Haircuts: Estimating Investor Losses in Sovereign Debt Restructurings, 1998-2005 | Published
Designing an early warning system for debt crises
Managing Financial Crises in Emerging Market Economies: Experience with the Involvement of Private Sector Creditors
Considerations in the Choice of the Appropriate Discount Rate for Evaluating Sovereign Debt Restructurings
Toward a Lender of First Resort
Lending Resumption After Default: Lessons from Capital Markets During the 19th Century
The Level and Composition of Public Sector Debt in Emerging Market Crises
Debt Defaults and Lessons from a Decade of Crises
Abstract: Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a comprehensive discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises.
Sovereign default risk, the IMF and creditor moral hazard
Sovereign debt crises and credit to the private sector
A solution to the default risk-business cycle disconnect
Default and the maturity structure in sovereign bonds
Who Saw Sovereign Debt Crises Coming?
Equilibrium sovereign default with endogenous exchange rate depreciation
Sovereign defaulters: Do international capital markets punish them?
Long-duration bonds and sovereign defaults
Sovereign Default, Private Sector Creditors and the IFIs | Published
Unpleasant surprises: sovereign default determinants and prospects
The elusive costs of sovereign defaults
Sovereign Default, Domestic Banks and Financial Institutions
Asymmetric Shocks, Long-term Bonds and Sovereign Default
News and sovereign default risk in small open economies | Published
Fiscal Imbalances, Ination and Sovereign Default Dynamics
Quantitative Properties of Sovereign Default Models: Solution Methods Matter
Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets
Sovereign default and debt renegotiation
Revisiting Overborrowing and its Policy Implications
Observing bailout expectations during a total eclipse of the sun
Abstract: The literature has not reached a consensus yet regarding the existence of sovereign creditor moral hazard. Exploiting an exceptional historical example, this paper proposes an original method to address this issue. As the corona which is observable only during a total eclipse of the sun, market-specific prices of repudiated bonds are observable only when extreme conditions segment the markets. Such very rare events allow for isolating pure country-specific bailout expectations. The paper shows that bailouts do create creditor moral hazard. Based on an impulse response analysis, the econometric results further emphasize the influence of bailout expectations in sovereign bonds valuation.
Endogenous debt crises | Published
40 years of sovereign debt crises
Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
Is it punishment? Sovereign defaults and the decline in trade
Sovereign default: Which shocks matter?
What is the Risk of European Sovereign Debt Defaults? Fiscal Space, CDS Spreads and Market Pricing of Risk
Recent developments in quantitative models of sovereign default
Sovereign Defaults: The Price of Haircuts | Published
Debt Dilution and Sovereign Default Risk | Published
Sovereign Default Risk Premia, Fiscal Limits and Fiscal Policy
A General Equilibrium Model of Sovereign Default and Business Cycles
Exchange rate policy under sovereign default risk
Sovereign defaults and liquidity crises
A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
Crash risk of the euro in the sovereign debt crisis of 2009–2010
Why Prices Don't Respond Sooner to a Prospective Sovereign Debt Crisis
Sovereign default risk premia, fiscal limits, and fiscal policy
The Sovereign Default Puzzle: Modelling Issues and Lessons for Europe
Efficient Sovereign Default | Published
Sovereign default risk and commitment for fiscal adjustment
Optimal Sovereign Default | Published
You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending
The mystique surrounding the central bank’s balance sheet, applied to the European crisis
The Mystery of the Printing Press: Self-fulfilling debt crises and monetary sovereignty
Credibility For Sale
Slow Moving Debt Crises | Published
Sovereigns versus Banks: Credit, Crises, and Consequences
Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
Abstract: We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential for self-fulfilling debt crises. Inflation is costly, but reduces the real value of outstanding debt without the full punishment of default. With high inflation credibility, which can be interpreted as joining a monetary union or issuing foreign currency debt, debt is effectively real. By contrast, with low inflation credibility, sovereign debt is nominal and in a debt crisis a government may opt to inflate away a fraction of the debt burden rather than explicitly default. This flexibility potentially reduces the country's exposure to self-fulfilling crises. On the other hand, the government lacks credibility not to inflate in the absence of crisis. This latter channel raises the cost of debt in tranquil periods and makes default more attractive in the event of a crisis, increasing the country's vulnerability. We characterize the interaction of these two forces. We show that there is an intermediate inflation credibility that minimizes the country's exposure to rollover risk. Low inflation credibility brings the worst of both worlds--high inflation in tranquil periods and increased vulnerability to a crisis.
Puzzling over the Anatomy of Crises: Liquidity and the Veil of Finance
Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects | Published
Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten
Do Sovereign Credit Default Swaps Represent a Clean Measure of Sovereign Default Risk? A Factor Model Approach
Recent Developments in Quantitative Models of Sovereign Default
SURVEY PAPER Sovereign defaults and optimal reserves management
The "forward premium puzzle" and the sovereign default risk
Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default
Sovereign Default Risk Premia and State-Dependent Twin Deficits | Published
Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns
Information quality and crises in regime-change games
Renegotiation Policies in Sovereign Defaults
Monetary and Fiscal Policy with Sovereign Default
The Welfare Cost of Sovereign Default and Liquidity Injections
Sovereign Bailouts
Debt Crises: For Whom the Bell Tolls
The Long and the Short of It: Sovereign Debt Crises and Debt Maturity
Varieties of Sovereign Crises: Latin America 1820-1931
Sovereign Default and the Choice of Maturity | Published
Bank regulation, risk and return: Evidence from the credit and sovereign debt crises
Global Monetary Tightening: Emerging Markets Debt Dynamics and Fiscal Crises
The Long and the Short of It: Sovereign Debt Crises and Debt Maturity
Equilibrium sovereign default with endogenous exchange rate depreciation
Gambling for Redemption and Self-Fulfilling Debt Crises
A Tale of Two Countries: Sovereign Default, Exchange Rate, and Trade
The macroeconomic effects of the sovereign debt crisis in the euro area
Sovereign defaults by currency denomination
Self-Fulfilling Debt Crises: Can Monetary Policy Really Help? | Published
Information quality and crises in regime-change games
Country Solidarity in Sovereign Crises
Liquidity Crises, Liquidity Lines and Sovereign Risk | Published
Time-Consistent Fiscal Policy in a Debt Crisis
From Financial Repression to External Distress: The Case of Venezuela
External and Public Debt Crises
Time-Consistent Fiscal Policy in a Debt Crisis
Fiscal rules and the Sovereign Default Premium | Published
Sovereign Default and Information Frictions
Sovereign Defaults: has the current system resulted in lasting (re)solutions?
Sovereign Default Risk and Uncertainty Premia | Published
Domestic Debt and Sovereign Defaults
Leverage and Default in Binomial Economies: A Complete Characterization
Exit Expectations and Debt Crises in Currency Unions | Published
Exit expectations and debt crises in currency unions
Labor Market Distortions under Sovereign Default Crises
A Pecking Order Theory of Sovereign Default
The Pitfalls of External Dependence: Greece, 1829-2015
Exit Expectations and Debt Crises in Currency Unions
How are market preferences shaped? The case of sovereign debt of stressed euro-area countries
Liquidity, Government Bonds and Sovereign Debt Crises
Fiscal Austerity during Debt Crises
Quantitative Models of Sovereign Debt Crises
SURVEY PAPER
Absence of safe assets and fiscal crisis
Debt Crises: For Whom the Bell Tolls
Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics
Serial Sovereign Defaults and Debt Restructurings
Reputational Effects in Sovereign Default
The Costs of Sovereign Default: Evidence from Argentina
Income Inequality and Sovereign Default
Optimal Domestic (and External) Sovereign Default
Fiscal Rules and Sovereign Default
Self-Fulfilling Debt Crises: A Quantitative Analysis | Published
Take the Short Route: Equilibrium Default and Debt Maturity | Published
Systemic and Idiosyncratic Sovereign Debt Crises
Sovereign Defaults, Eexternal Debt, and Real Exchange Rate Dynamics
Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015
Flooded with debt
Optimal Fiscal and Monetary Policy, Debt Crisis and Management | Published
Self-Fulfilling Debt Crises, Revisited: The Art of the Desperate Deal | Published
Emerging economies' short-term private external debt as evidence of economic crisis
Is Inflation Default? The Role of Information in Debt Crises | Published
Financial Repression in the European Sovereign Debt Crisis | Published
Default Risk, Sectoral Reallocation, and Persistent Recessions | Published
Sovereign Bond Prices, Haircuts and Maturity
Sovereign debt renegotiation and credit default swaps
Sovereign Default Risk and Firm Heterogeneity
Fiscal Rules and Sovereign Default
Commodity price risk management and fiscal policy in a sovereign default model | Published
Sovereign Default and Capital Accumulation | Published
Commodity Price Risk Management and Fiscal Policy in a Sovereign Default Model
Asymmetric business cycles and sovereign default
Reputation and Sovereign Default | Published
Sovereign Default Resolution Through Maturity Extension | Published
Life after default: Private vs. official sovereign debt restructurings | Published
External Imbalances, Gross Capital Flows and Sovereign Debt Crises
Bank Exposures and Sovereign Stress Transmission
Sovereign debt and systemic risk in the eurozone: A macroeconomic perspective
Sovereign Risk and Bank Risk-Taking
Assessing the predictive ability of sovereign default risk on exchange rate returns
Sovereign defaults in court | Published
The Costs of Sovereign Default: Evidence from the Stock Market
Assessing sovereign default risk: A bottom-up approach
Do credit rating agencies provide valuable information in market evaluation of sovereign default risk?
Fiscal Commitment and Sovereign Default Risk | Published
Credit Rating and Debt Crises
Sovereign Default: The Role of Expectations | Published
Sovereign credit rating determinants under financial crises
Debt Seniority and Sovereign Debt Crises
Sovereign Default and Liquidity: the Case for a World Safe Asset | Published
Official Debt Restructurings and Development
"Whatever it takes" to resolve the European sovereign debt crisis? Bond pricing regime switches and monetary policy effects
Reputation and Sovereign Default
Sovereign Default in a Monetary Union
International tax cooperation and sovereign debt crisis resolution: reforming global governance to ensure no one is left behind
Life After Default: Private vs. Official Sovereign Debt Restructurings
A mechanism to regulate sovereign debt restructuring in the euro area
Financial friction sources in emerging economies: Structural estimation of sovereign default models
Sovereign Debt Restructurings
Dynamic adjustment of fiscal policy under a debt crisis
Determinants of sovereign defaults
Quantitative Sovereign Default Models and the European Debt Crisis | Published
(At Least) Four Theories for Sovereign Default
History Remembered: Optimal Sovereign Default on Domestic and External Debt | Published
Banks, Government Bonds, and Default: What Do the data Say?
How International Reserves Reduce the Probability of Debt Crises
The dynamics of sovereign debt crises and bailouts
Honoring sovereign debt or bailing out domestic residents? The limits to bailouts
On the Role of Financial Aid in a Default Episode
Inflation, Debt, and Default
International Reserves Management in a Model of Partial Sovereign Default
Sovereign default, domestic banks and exclusion from international capital markets | Published
Selective Sovereign Defaults
Sovereign debt crises and cross-country assistance | Published
News, Country Risk, and Sovereign Default
Monetary Independence and Rollover Crises | Published
Interest Rate Uncertainty and Sovereign Default Risk
The Impact of Bailouts on the Probability of Sovereign Debt Crises: Evidence from IMF-Supported Programs
Time-Varying Volatility, Default and the Sovereign Risk Premium
Banking Regulation with Risk of Sovereign Default
Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel
Self-Fulfilling Debt Crises, Fiscal Policy and Investment | Published
Self-Fulfilling Debt Crises with Long Stagnations
Sovereign default and imperfect tax enforcement
Anatomy of a Sovereign Debt Crisis: CDS Spreads and Real-Time Macroeconomic Data
Partial Default | Published
Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data
Sovereign Default Triggered by Inability to Repay Debt
Interest Rate Targets and Speculative Attacks on Public Debt
Sovereigns going bust: Estimating the cost of default
Sovereign Default Risk and Migration
Policy Interventions in Sovereign Debt Restructurings
Welfare gains of bailouts in a sovereign default model | Published
Fiscal policy and the output costs of sovereign default
Debt Crises, Fast and Slow
Seigniorage and Sovereign Default: The Response of Emerging Markets to COVID-19
Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models
Migration and sovereign default risk
Infation, default and sovereign debt: The role of denomination and ownership
Sovereign default risk, macroeconomic fluctuations and monetary-fiscal stabilisation
Sovereign debt standstills
Secular Stagnation and Low Interest Rates under the Fear of a Government Debt Crisis
Sovereign illiquidity and recessions
Inflation-default trade-off without a nominal anchor: The case of Greece
Sovereign Debt Standstills
The "Dark Side" of Credit Default Swaps Initiation: A Close Look at Sovereign Debt Crises
Optimal Bailouts in Banking and Sovereign Crises
Default Costs and Self-fulfilling Fiscal Limits in a Small Open Economy
Self-inflicted Debt Crises
Global Banks and Systemic Debt Crises | Published
Public Capital and Fiscal Constraint in Sovereign Debt Crises
Reputation and Partial Default | Published
Stock liquidity and default risk around the world
Sovereign Default, Trade, and Terms of Trade
The Root Cause of Sovereign Default
Sovereign debt crisis, fiscal consolidation, and active central bankers in a monetary union
The Revenge of Defaulters: Sovereign Defaults and Interstate Negotiations in the Post-War Financial Order, 1940-65
Preventing self-fulfilling debt crises: A global games approach
Optimal public debt composition during debt crises: A review of theoretical literature
Financial market linkages and the sovereign debt crisis
On sovereign default with time-varying interest rates
How fiscal rules can reduce sovereign debt default risk
Sovereign Bond Restructuring: Commitment vs. Flexibility
Asymmetric Information and Sovereign Debt Disclosure
A journey in the history of sovereign defaults on domestic-law public debt
Ricardian equivalence, foreign debt and sovereign default risk
Hidden defaults
Sovereign Debt Repatriation During Crises
Sovereign Cocos
Do Countries Default in Bad Times? The Role of Alternative Detrending Techniques
Real Effects of Financial Distress: The Role of Heterogeneity
Constrained Efficient Borrowing with Sovereign Default Risk
Financial exclusion and sovereign default: the role of official lenders
Flash crashes on sovereign bond markets: EU evidence
Disclosures, rollover risk, and debt runs
Illiquidity in sovereign debt markets
Improving sovereign debt restructurings
Sovereign Defaults and Debt Sustainability: The Debt Recovery Channel
The Systemic Impact of Debt Default in a Multilayered Global Network Model
Sovereign Bailouts: Are Ex-Ante Conditions Useful?
BoC-BoE Sovereign Default Database: What's new in 2022?
Making Sovereign Debt Safe with a Financial Stability Fund
Sovereign-bank diabolic loop: The government procurement channel
An ergodic theory of sovereign default
Yet it Endures: The Persistence of Original Sin
Foreign banks and the doom loop
Sovereign debt crisis, fiscal consolidation, and active central bankers in a monetary union
Fiscal Crises: The Role of the Public Debt Investor Base and Domestic Financial Markets as Aggravating and Mitigating Factors
Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today vs the pre-HIPC Era
External Shocks versus Domestic Policies in Emerging Markets
Escape clauses for escaping default
BoC-BoE Sovereign Default Database: Methodology and Assumptions
Determinants of market?assessed sovereign default risk: Macroeconomic fundamentals or global shocks?
Collateral and reputation in a model of strategic defaults
Sovereign Defaults and Public Investment (Capital)
Selective Default Expectations
Self-Fulfilling Debt Crises with Long Stagnations
Are Developing Countries Facing a Possible Debt Crisis?
Preemptive Austerity with Rollover Risk
Uncertainty Premia, Sovereign Default Risk, and State-Contingent Debt
Expansionary Fiscal Consolidation Under Sovereign Risk
The Sovereign Default Risk of Giant Oil Discoveries
Default and Interest Rate Shocks: Renegotiation Matters
IMF lending in sovereign default
Sovereign Debt Issuance and Selective Default
I (don't) owe you: sovereign default and borrowing behavior
Housing, the credit market, and unconventional monetary policies: from the sovereign crisis to the great lockdown
Determinants of market?assessed sovereign default risk: Macroeconomic fundamentals or global shocks?
Rational panics and stock market crashes
Stock market crashes and dynamics of aftershocks
Crashes and recoveries in illiquid markets
stock market crashes as social phase transitions
Adaptive Expectations and Stock Market Crashes
The Costs of Sovereign Default
Monetary policy and stock market boom-bust cycles
Stock-Market Crashes and Depressions
Stock market crashes, firm characteristics, and stock returns
Disasters implied by equity index options
Can a stochastic cusp catastrophe model explain stock market crashes?
The Stock Market Crash of 2008 Caused the Great Recession: Theory and Evidence | Published
Should the government directly intervene in stock market during a crisis?
Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
Market fragility and international market crashes
Sudden Spikes in Global Risk | Published
The changing macroeconomic response to stock market volatility shocks
U.S. stock market crash risk, 1926-2010
Corporate social responsibility and stock price crash risk
Sectoral and industrial performance during a stock market crisis
Momentum Crashes
Shifts in volatility driven by large stock market shocks
Slow capital, fast prices: Shocks to funding liquidity and stock price reversals
Equilibrium theory of stock market crashes
Short-sales and stock price crash risk: Evidence from an emerging market
Can a stochastic cusp catastrophe model explain housing market crashes?
Momentum crashes
Communist party control and stock price crash risk: Evidence from China
Trust and stock price crash risk: Evidence from China
CEO Age and Stock Price Crash Risk
Credit Expansion and Neglected Crash Risk
Leaders, followers, and equity risk premiums in booms and busts
Stock Liquidity and Stock Price Crash Risk
Shadows in the Sun: Crash risk behind Earnings Transparency
Systemic co-jumps
Stock price related financial fragility and growth patterns
Momentum and crash sensitivity
The reality of stock market jumps diversification
Inference on the tail process with application to financial time series modeling
Crash Sensitivity and the Cross Section of Expected Stock Returns
Ownership structure, audit quality, board structure, and stock price crash risk: Evidence from China
On Liquidity Shocks and Asset Prices
Does Unusual News Forecast Market Stress?
Avoiding momentum crashes: Dynamic momentum and contrarian trading
Ratings matter: Announcements in times of crisis and the dynamics of stock markets
Institutional investors, selling pressure and crash risk: Evidence from China
Joint extreme events in equity returns and liquidity and their cross-sectional pricing implications
Inside the Mind of a Stock Market Crash
Persistence, non-linearities and structural breaks in European stock market indices
Company visits and stock price crash risk: Evidence from China
Quant Bust 2020
Loss aversion and market crashes
Financial Shocks to Banks, R&D Investment, and Recessions
Corporate customer concentration and stock price crash risk
Hedging crash risk in optimal portfolio selection
Self-fulfilling arbitrages necessitate crash risk
Explain or conceal? Causal language intensity in annual report and stock price crash risk
The double-edged role of social learning: Flash crash and lower total volatility
What Triggers Stock Market Jumps?
Time-Varying Crash Risk Embedded in Index Options: The Role of Stock Market Liquidity
Short-term stock price reversals after extreme downward price movements
Modeling the contagion of bank runs with a Markov model
Financial contagion in the futures markets amidst global geo-economic events
Corporate social activities and stock price crash risk in the banking industry: International evidence
Retail attention, retail trades, and stock price crash risk
Who Sells During A Crash? Evidence from Tax-Return Data on Daily Sales of Stock Short Title: Who Sells During A Crash?
Information disclosure source, investors' searching and stock price crash risk
Positive information shocks, investor behavior and stock price crash risk
Serial acquirers and stock price crash risk: International evidence
Recovery from fast crashes: Role of mutual funds
Can direct government intervention save the stock market?
High-frequency trading, stock volatility, and intraday crashes
Multivariate crash risk
The causal effect of improved readability of financial reporting on stock price crash risk: Evidence from the Plain Writing Act of 2010
Jumps in stock prices: New insights from old data
Recessions and the stock market
The effect of accounting fraud on future stock price crash risk
The role of idiosyncratic jumps in stock markets
Ultimate government control and stock price crash risk: Evidence from China
Systemic Tail Risk: High-Frequency Measurement, Evidence and Implications
Crisis sentiment and banks' stock price crash risk: A missing piece of the puzzle?
Does stock market rescue affect investment efficiency in the real sector?
Risk-return tradeoff and serial correlation in the Chinese stock market: A bailout-driven crash feedback hypothesis
Large Bets and Stock Market Crashes
Fire sale risk and expected stock returns
Do industries predict stock market volatility? Evidence from machine learning models
CRISIS ALERT:Forecasting Stock Market Crisis Events Using Machine Learning Methods
Foreign institutional ownership stability and stock price crash risk
Migration fear and stock price crash risk
Stock co-jump networks
Withholding Bad News in the Face of Credit Default Swap Trading: Evidence from Stock Price Crash Risk
The Twin Crises: Causes of Banking and Balance-of-Payments Problems
Abstract: In the wake of the Mexican and Asian currency turmoil, the subject of financial crises has come to the forefront of academic and policy discussions. This paper analyzes the links between banking and currency crises. We find that: problems in the banking sector typically precede a currency crisis—the currency crisis deepens the banking crisis, activating a vicious spiral; financial liberalization often precedes banking crises. The anatomy of these episodes suggests that crises occur as the economy enters a recession, following a prolonged boom in economic activity that was fueled by credit, capital inflows, and accompanied by an overvalued currency.
Manias, Panics and Crashes: A History of Financial Crises
Abstract: Manias, Panics and Crashes is a scholarly and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as 'a true classic...both timely and timeless.' In this new, updated fifth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries. Selected as one of the best investment books of all time by the Financial Times, Manias, Panics and Crashes puts the turbulence of the financial world in perspective.
On the Fiscal Implications of Twin Crises
Banking and Currency Crises: How Common Are Twins?
A Model of the Joint Distribution of Banking and Exchange-Rate Crises | Published
Economic and Financial Crises in Emerging Market Economies: Overview of Prevention and Management
SURVEY PAPER
Liquidity Crises in Emerging Markets: Theory and Policy
Margin Calls, Trading Costs, and Asset Prices in Emerging Markets: The Finanical Mechanics of the 'Sudden Stop' Phenomenon
How Bad Are Twins? Output Costs of Currency and Banking Crises
Another Twin Crisis: Currency and Debt
What drives financial crises in emerging markets?
Is There a Causal Link between Currency and Debt Crises?
When Bad Things Happen to Good Banks: Contagious Bank Runs and Currency Crises
An Exegesis on Currency and Banking Crises
Dollar Shortages and Crises
Strategic Complementarities and the Twin Crises
Quantitative Analysis of Crisis: Crisis Identification and Causality
What Might the Next Emerging-Market Financial Crisis Look Like?
Are Debt Crises Adequately Defined?
Will Subprime be a Twin Crisis for the United States? | Published
A model of the interactions between banking crises and currency crises
Modelling the dependency between currency and debt crises: An option based approach
Debt and Currency Crises: Complements or Substitutes?
The role of liquidity and implicit guarantees in the German twin crisis of 1931
Asset prices and twin crises
International macroeconomic dynamics: A factor vector autoregressive approach
From Financial Crash to Debt Crisis | Published
On Graduation from Default, Inflation and Banking Crisis: Elusive or Illusion?
Modeling Financial Crises Mutation
Sovereign Defaults and Banking Crises | Published
Intertwined Sovereign and Bank Solvencies in a Model of Self-Fulfilling Crisis
Bailout Guarantees, Banking Crises and Sovereign Debt Crises
Banking, Debt, and Currency Crises: Early Warning Indicators for Developed Countries
Dual Liquidity Crises-A Financial Accounts Framework
Three Sisters: The Interlinkage between Sovereign Debt, Currency and Banking Crises
Currency versus Banking in the Financial Crisis of 1931
Monetary Policy and the Twin Crises
Banking and Sovereign Debt Crises in a Monetary Union Without Central Bank Intervention
Guarantees, transparency and the interdependency between sovereign and bank default risk
Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops
Fiscal and Financial Crises
Sovereign debt and reserves with liquidity and productivity crises
Bailouts, moral hazard and banks? Home bias for Sovereign debt
Bank Exposures and Sovereign Stress Transmission
Banks and Sovereigns: A Model of Mutual Contagion
Currency and external debt crises: A unifying framework
Banking crises, external crises and gross capital flows
The Sovereign-Bank Diabolic Loop and ESBies
Fiscal Crises | Published
Linking Bank Crises and Sovereign Defaults: Evidence from Emerging Markets
ESBies: safety in the tranches
Government guarantees and the two-way feedback between banking and sovereign debt crises | Published
The Bank-Sovereign Nexus: Evidence from a non-Bailout Episode
Why Are Banks Not Recapitalized During Crises?
Government debt and banking fragility: the spreading of strategic uncertainty
Sovereigns and Financial Intermediaries Spillovers
Relationship Networks in Banking Around a Sovereign Default and Currency Crisis
The Bright Side of the Doom Loop: Banks Exposure and Default Incentives
Twin Default Crises
Financial Stability with Sovereign Debt
The impact of the twin financial crises
Together or apart? The relationship between currency and banking crises
The Complex Crises Database: 70 Years of Macroeconomic Crises
Policy uncertainty, interest rate environment and the dynamic correlation between sovereign and bank default risk
Factors explaining capital market reactions during corporate, sovereign, and pandemic events
The bright side of the doom loop: banks' sovereign exposure and default incentives
The Asian Crisis, the IMF and Dr Mahathir
From Asian Miracle to Asian Crisis: Why Vulnerability, Why Collapse?
How the Sick Man Avoided Pneumonia: The Philippines in the Asian Financial Crisis
Economic Shocks, Wealth and Welfare
Currency Market Reactions to Good and Bad News During the Asian Crisis
Asian Crisis: Distilling Critical Lessons
Stock Market Responses to Bank Restructuring Policies during the East Asian Crisis
Were the Peseta Exchange Rate Crises Forecastable During Target Zone Period?
Did the Malaysian Capital Controls Work?
Malaysia: Was it Different?
Malaysian Capital Controls
The Value of Relationship Banking during Financial Crises: Evidence from the Republic of Korea
Lending Booms: Latin America and the World
Reactions to the Thai economic crisis: informed critique of globalisation or utopia?
Between Meltdown and Moral Hazard: The International Monetary and Financial Policies of the Clinton Administration
Internal Capital Markets: An explanation of the Mexican recovery after the 1995 crisis
Crisis Dynamics of Implied Default Recovery Ratios: Evidence from Russia and Argentina
Econometric Modelling of Argentine Default
Monetary Policy and the Exchange Rate during the Asian Crisis: Identification through Heteroscedasticity | Published
Abstract: This paper evaluates whether a tight monetary policy (i.e., an increase in the domestic interest rate) was successful in defending the exchange rate from speculativepressures during the Asian financial crisis. The empirical analysis applied to five Asian countries utilizes a bivariate VAR model, which is identified by taking intoaccount the heteroscedasticity properties of the time-series of interest, following Sentana and Fiorentini (1999). The empirical evidence shows that tight monetary policy did not help to stabilize the currencies under investigation.
Does Foreign Ownership Contribute to Sounder Banks in Emerging Markets? The Latin American Experience
A Leading Indicators Approach to the Predictability of Currency Crises in Turkey
Testing for Contagion during the Asian Crisis
Searching for New Regulatory Frameworks for the Intermediate Financial Structure in Post-Crisis Asia
The Asian Disease: Plausible Diagnoses, Possible Remedies, Regulation of Cross-Border Interbank Lending and Derivatives Trade
Lessons from the Russian Meltdown: The Economics of Soft Legal Constraints
Cronyism and Capital Controls: Evidence from Malaysia
The German Twin Crisis of 1931
Foreign Direct Investors in Three Financial Crises
Financial Crisis in Russia: The Behavior of Non-Residents
The Russian Financial Crisis and its Consequences for Central Asia
Capital Flows and Their Macroeconomic Effects in India
The Asian Financial Crisis: What Happened, and What is to be done
Accident waiting to happen? The Thai banking crisis of 1997
The Output Decline in Asian Crisis Countries: Investment Aspects
Banking Crises and Bank Resolution: Experiences in Some Transition Economies
Can Subsidiaries of Foreign Banks Contribute to the Stability of the Forex Market in Emerging Economies? A Look at Some Evidence from the Mexican Financial System
Who Panics During Panics? Evidence from a Nineteenth Century Savings Bank
Are branch banks better survivors? Evidence from the Depression era
Banking and finance in Argentina in the period 1900-35
Capital Controls in Chile: Effective? Efficient?
A Practical Guide to Managing Systemic Financial Crises: A Review of Approaches Taken in Indonesia, the Republic of Korea, and Thailand
Popular Reaction to the Intervention by the IMF in the Korean Economic Crisis
Lending of Last Resort, Moral Hazard and Twin Crises: Lessons from the Bulgarian Financial Crisis 1996/1997
FX Short Positions, Balance Sheets and Financial Turbulence: An Interpretation of the Asian Financial Crisis
Russias financial markets boom, crisis and recovery 1995-2001, Lessons for Emerging Markets Investors
On the Predictability of Currency Crises: The Use of Indicators in the Case of Arab Countries
The Role of Capital Controls and Currency Regimes in the Asian Crisis
The German Twin Crisis of 1931
The Great Banks` Depression - Deposit Withdrawals in the German Crisis of 1931
Sovereign Default By Argentina: 'Slow Motion Train Crash' or Self-Fulfilling Crisis?
Contagion and Causality: An Empirical Investigation of Four Asian Crisis Episodes
Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis | Published
Crony Lending: Thailand before the Financial Crisis
Did Output Recover from the Asian Crisis? | Published
Mis-Leading Indicators? The Argentinean Currency Crisis
Economic Fundamentals and Self-Fulfilling Crises: Some Evidence from Mexico | Published
Evaluating Currency Crises: The Case of European Monetary System
Re-Establishing Credible Nominal Anchors After a Financial Crisis: A Review of Recent Experience
Abstract: This paper studies the question of how to achieve monetary policy credibility and price stability after a financial crisis. We draw stylized facts and conclusions from ten recent cases: Brazil (1999); Bulgaria (1997); Ecuador (2000); Indonesia (1997); Korea (1997); Malaysia (1997); Mexico (1994), Russia (1998); Thailand (1997); and Turkey (2001). Among our conclusions, highlights include: (i) monetary policy alone cannot stabilize; (ii) floats bring nominal stability quickly in countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray; (iii) in floats, early and determined tightening brings nominal stability and does not appear more costly for output; (iv) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting offers more promise.
Does Central Bank Intervention Influence the Probability of a Speculative Attack? Evidence from the EMS
The Anatomy of a Multiple Crisis: Why was Argentina Special and What Can We Learn from It?
Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability: Argentina's Lessons
The Argentinean Currency Crisis: A Markov-Switching Model Estimation
A Model of the Russian Crisis Development
The Price of Inconvertible Deposits: The Stock Market Boom during the Argentine Crisis
Indonesia - Anatomy of a Banking Crisis - Two Years of Living Dangerously - 1997-99
The value of banking relationships during a financial crisis: Evidence from failures of Japanese banks
The Japanese banking crisis and economic growth: Theoretical and empirical implications of deposit guarantees and weak financial regulation
Post-crisis exchange rate policy in five Asian countries: Filling in the "hollow middle"
What can we learn from the current crisis in Argentina?
The Role of Economic Fundamentals in Explaining Indonesian Currency Crisis
Mitsubishi Bank under the Showa Financial Crisis, 1927: The Crisis observed thorough the Daily Financial Data
Indicators of financial crises do work! An early-warning system for six Asian countries
Interest rate rules and multiple equilibria in the small open economy
Do Macroeconomic Effects of Capital Controls Vary by Their Type? Evidence from Malaysia
The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work
Does Economic Crisis Reduce Support for Markets and Democracy in Latin America? Lessons from Surveys of Public Opinion and Well Being
Turkish Currency Crisis of 2000-1, Revisited
Asian Crises: Theory, Evidence, Warning-Signals
Dynamic Adjustment of Corporate Leverage: Is there a lesson to learn from the Recent Asian Crisis?
Comparison between Asian, Russian and Turkish financial crises
Worsening of the Asian Financial Crisis: Who is to Blame?
Gender Bias and The Indonesian Financial Crisis: Were Girls Hit Hardest?
Devaluation Beliefs and Debt Crisis: The Argentinian Case
Fear of Sudden Stops: Lessons from Australia and Chile | Alternative
Banking in Sub-Saharan Africa: What Went Wrong?
Causal Relationships Between Exchange Rates And Stock Prices In Malaysia And Thailand During The 1997 Currency Crisis Turmoil
Sources Of Asian Currency Crisis
Firm Dynamics, Investment, and Debt Portfolio: Balance Sheet Effects of the Mexican Crisis of 1994 | Published
Tango with the Gringo: The Hard Peg and Real Misalignment in Argentina
Misleading indicators? The Argentinean currency crisis
Foreign Banks in Emerging Market Crises: Evidence from Malaysia
Macroeconomic Crisis and Individual Firm Performance: The Mexican Experience
Looking for risk premium and contagion in Asia-Pacific foreign exchange markets
Crisis transmission: Some evidence from the Asian financial crisis
The Role of Firm Size in Controlling Output Volatility during the Asian Financial Crisis
Trade Finance and Trade Flows: Panel Data Evidence from 10 Crises
Banking Crisis in Japan
The Asian Financial Crisis in Retrospect: What Happened? What Can We Conclude?
Capital Flows and Financial Crises: A Comparative Analysis of East Asia (1997-98) and Argentina (2001-02)
External Currency Pricing and the East Asian Crisis | Published
Currency Crises in Developed and Emerging Market Economies: A Comparative Empirical Treatment
Were Bid-Ask Spreads in the FX Market Excessive During the Asian Crisis?
Lasting Local Impacts of an Economywide Crisis
Policy Mix, Public Debt Management, and Fiscal Rules: Lessons from the 2002 Brazilian Crisis
The 1997–1998 Korean crisis: Domestic or external causes?
Cross-Country Empirical Studies of Systemic Bank Distress: A Survey
SURVEY PAPER
International Borrowing and Macroeconomic Performance in Argentina
The Asian financial crisis: The role of derivative securities trading and foreign investors in Korea
Making Explosive Cocktails: recipes and costs for 26 Crises from 1823 to 2003
IMF-related news and emerging financial markets
Deposit drains on “interest-paying” banks before financial crises
German Bank Lending During Financial Crises: A Bank Level Analysis
Speculative Attacks on Nordic Exchange-Rates, 1971-1992
Bargaining and Sustainability: The Argentine Debt Swap of 2005
Towards a new set of leading indicators of currency crisis for developing countries: An application to Argentina
An Analysis of the 2002 Uruguayan Banking Crisis
Banks During the Argentine Crisis: Were They All Hurt Equally? Did They All Behave Equally? | Published
Malaysian Capital Controls: Macroeconomics and Institutions
Exchange Rate Changes and Inflation in Post-Crisis Asian Economies: VAR Analysis of the Exchange Rate Pass-Through
Economic activity, foreign exchange rate, and the interest rate during the Asian crisis
The Korean Crisis: What Did We Know and When Did We Know It? What Stress Tests of the Corporate Sector Reveal
Evaluating the Success of Malaysia’s Exchange Controls (1998-99)
The Role of Information Disclosure and Uncertainty in the 1994/95 Mexican Peso Crisis: Empirical Evidence
Is East Asia Safe from Financial Crises?
Foreign exchange markets in south-east Asia 1990-2004: An empirical analysis of spillovers during crisis and non-crisis periods
Explaining Korea’s Lower Investment Levels After the Crisis
Investment During the Korean Financial Crisis: A Structural Econometric Approach | Alternative
Abstract: Without capital market imperfections, the capital structure of a firm, including the size, the maturity and the currency composition of debts, should not matter for investment decisions. The Asian financial crises provide a good opportunity to test this hypothesis. We approach the problem in two ways: First, we apply a conventional reduced-form analysis to a panel data of Korean manufacturing firms, arguing that the devaluation that occurred during the crisis provides a natural experiment in which to assess the effect of balance sheet shocks to investment. Second, we use indirect inference to estimate a structural dynamic programming problem of a firm with foreign debts and financial constraints. Both reduced-form evidence and structural parameter estimates imply an important role for finance in investment at the firm level. Counterfactual simulations imply that balance sheet effects may account for 50% to 80% of t he drop in investment during the crisis period. Although our estimates suggest that foreign denominated debt had relatively little effect on aggregate investment spending for the Korean economy during this crisis episode, counterfactual experiments imply sizeable contractions in investment through this mechanism for economies that are more heavily dependent on foreign-denominated debt.
Asian Currency Crises: Do Fundamentals still Matter? A Markov-Switching Approach to Causes and Timing
The Asian Crisis: a Perspective after Ten Years
Ten Years After: Financial Crisis Redux or Constructive Regional Financial and Monetary Cooperation?
Japan’s banking crisis: An event-study perspective
Does post-crisis restructuring decrease the availability of banking services? The case of Turkey
Operational Hedges and Foreign-Exchange Exposure: The Experience of U.S. MNCs During the Asian Financial Crisis
Dynamic correlation analysis of financial contagion: Evidence from Asian markets
Currency Crisis Theories – Some Explanations for the Russian Case
Financing Constraint and Firm-Level Investment Following a Financial Crisis in Indonesia
The Asian Crisis Contagion: A Dynamic Correlation Approach Analysis
Changing Dynamics of the East Asian Real Exchange Rates after the Financial Crisis: Further Evidence on Mean Reversion
Currency crises in transition economies: some further evidence
Psychological health before, during, and after an economic crisis: results from Indonesia, 1993 - 2000
Capital Flows and Economic Fluctuations: The Role of Commercials Banks in Transmitting Shocks
Bank failures and bank fundamentals: A comparative analysis of Latin America and East Asia during the nineties using bank-level data
Subnational insolvency: cross-country experiences and lessons
Internal Debt Crises and Sovereign Defaults | Published
Self-fulfilling and Self-enforcing Debt Crises
A neoclassical analysis of the Korean crisis
Information flows during the Asian crisis: Evidence from closed-end funds
Too-big-to-fail: Bank failure and banking policy in Jamaica
Markov switching GARCH models of currency turmoil in Southeast Asia
Central Bank Involvement in Banking Crises in Latin America
Globalization, Growth and Crises: The View from Latin America
The impact of sovereign rating changes and financial contagion on stock market returns: Evidence from five Asian countries
Default Risk and Income Fluctuations in Emerging Economies
The Korean financial crisis and the soft budget constraint
Central Bank Response to the 2007-08 Financial Market Turbulence: Experiences and Lessons Drawn
The Asian financial crisis, uphill flow of capital, and global imbalances: evidence from a micro study
Dollarization as an Investment Signal in Developing Countries: The Case of Croatia, Czech Republic, Peru, Slovak Republic and Turkey
Industrialization after a Deep Economic Crisis: Indonesia
Policy Responses to Sudden Stops in Capital Flows: The Case of Chile in 1998
Financial Crisis, Firm Dynamics and Aggregate Productivity in Japan
From Bear Stearns to Anglo Irish: How Eurozone Sovereign Spreads Related to Financial Sector Vulnerability
The Impact of the Credit Crisis on Poor Developing Countries: Growth, worker remittances, accumulation and migration
A New Debt Crisis? Assessing the impact of the financial crisis on developing countries
Liquidity, Risk Appetite and Exchange Rate Movements During the Financial Crisis of 2007-2009
From turmoil to crisis: dislocations in the FX swap market before and after the failure of Lehman Brothers
Behavioural heterogeneity and shift-contagion: Evidence from the Asian crisis
Interpreting deviations from covered interest parity during the financial market turmoil of 2007–08
The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
Bank fragility, “money under the mattress”, and long-run growth: US evidence from the “perfect” Panic of 1893
Modelling the Global Financial Crisis
Why are we in a recession? The Financial Crisis is the Symptom not the Disease!
Abstract: Globalization has brought a sharp increase in the developed world's labor supply. Labor in developing countries - countries with vast pools of underemployed people - can now more easily augment labor in the developed world, without having to relocate, in ways not thought possible only a few decades ago. We argue that the large increase in the developed world's labor supply, triggered by geo-political events and technological innovations, is the major underlying cause of the global macro economic imbalances that led to the great recession. The inability of existing institutions in the US and the rest of the world to cope with this shock set the stage for the great recession: The inability of emerging economies to absorb savings through domestic investment and consumption due to inadequate national financial markets and difficulties in enforcing financial contracts; the currency controls motivated by immediate national objectives; and the inability of the US economy to adjust to the perverse incentives caused by huge money inflows leading to a breakdown of checks and balances at various financial institutions. The financial crisis in the US was but the first acute symptom that had to be treated. A sustainable recovery will only occur when the natural flow of capital from developed to developing nations is restored.
How Many More Infants Are Likely to Die in Africa as a Result of the Global Financial Crisis?
Stability of East Asian Currencies during the Global Financial Crisis
Capital constraints, counterparty risk, and deviations from covered interest rate parity
Exchange rates during the crisis
A cospectral analysis of exchange rate comovements during Asian financial crisis
From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons
From Lombard Street to Avenida Paulista: Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09
Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure
No place to hide: The global crisis in equity markets in 2008/2009
The financial crisis of 2008 in fixed-income markets
The Crisis in the Foreign Exchange Market | PUblished
What Explains Global Exchange Rate Movements During the Financial Crisis? | Published
Exchange Rate Regimes in the Asia-Pacific Region and the Global Financial Crisis
Emerging Economy Responses to the Global Financial Crisis of 2007-09: An Empirical Analysis of the Liquidity Easing Measures
The Real Effects of Financial Constraints: Evidence from a Financial Crisis | Published
Exports and Financial Shocks
Abstract: A striking feature of many financial crises is the collapse of exports relative to output. In the 2008 financial crisis, real world exports plunged 17 percent while GDP fell 5 percent. This paper examines whether the drying up of trade finance can help explain the large drops in exports relative to output. This paper is the first to establish a causal link between the health of banks providing trade finance and growth in a firms exports relative to its domestic sales. We overcome measurement and endogeneity issues by using a unique data set, covering the Japanese financial crises of the 1990s, which enables us to match exporters with the main bank that provides them with trade finance. Our point estimates are economically and statistically significant, suggesting that trade finance accounts for about one-third of the decline in Japanese exports in the financial crises of the 1990s.
Interbank Offered Rate: Effects of the financial crisis on the information content of the fixing
Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi-Experimental Evidence from a Federal Reserve District Border, 1929–1933
The Global Financial Crisis: Explaining Cross-Country Differences in the Output Impact
Crisis? What Crisis? Currency vs. Banking in the Financial Crisis of 1931
Conflicts of Interest, Reputation, and the Interwar Debt Crisis: Banksters or Bad Luck?
Inflation Targeting and the Crisis: An Empirical Assessment
When the Rivers Run Dry: Liquidity and the Use of Wholesale Funds in the Transmission of the U.S. Subprime Crisis
Bank Credit during the 2008 Financial Crisis: A Cross-Country Comparison
Market Response to Policy Initiatives during the Global Financial Crisis
The vulnerability of sub-Saharan Africa to the financial crisis: the case of trade
Global Banks and International Shock Transmission: Evidence from the Crisis
Of Floods and Droughts: The Economic and Financial Cisis of 2008
Multinational Banking in Europe: Financial Stability and Regulatory Implications Lessons from the Financial Crisis
Financial Globalization and the Russian Crisis of 1998
Exchange Rate Flexibility Across Financial Crises | Published
Zimbabwe’s Currency Crisis: Which Currency To Adopt In The Aftermath Of The Multi-Currency Regime?
Determinants of intra-euro area government bond spreads during the financial crisis
Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis | Published
The Collapse of International Trade During the 2008-2009 Crisis: In Search of the Smoking Gun
When the North Last Headed South: Revisiting the 1930s
U.S. Bank Behavior in the Wake of the 2007-2009 Financial Crisis
Financial Fragility and Currency Crisis: a Macrodynamical Revisitation of the Argentina’s Experience
The Credit Crisis around the Globe: Why Did Some Banks Perform Better?
The US Subprime Crises and Extreme Market Pressures in Asia
Bank lending during the financial crisis of 2008
The subprime credit crisis and contagion in financial markets
Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09
Procyclicality in Central Bank Reserve Management: Evidence from the Crisis
The Trade Performance of Asian Economies During and Following the 2008 Financial Crisis
Cross-Country Causes and Consequences of the Crisis: An Update | Published
What can EMU countries' sovereign bond spreads tell us about market perceptions of default probabilities during the recent financial crisis?
Crisis? What Crisis? Currency vs. Banking in the Financial Crisis of 1931
Off the Cliff and Back? Credit Conditions and International Trade during the Global Financial Crisis
The Cross-Country Incidence of the Global Crisis
Global effects of fiscal stimulus during the crisis
The Behavior of Intoxicated Investors: The role of institutional investors in propagating the crisis of 2007-2008
Decomposing the Great Trade Collapse: Products, Prices, and Quantities in the 2008-2009 Crisis
Unpleasant Surprises: Sovereign Default Determinants and Prospects
A compound option approach to model the interrelation between banking crises and country defaults: The case of Hungary 2008
Crisis and Recovery: Role of the Exchange Rate Regime in Emerging Market Countries | Published
Post-crisis economic policies
Robust growth or anemic recovery in the U.S. and the global economy
Sustaining a global recovery
Growth or stagnation after recession for the U.S. and other large advanced economies
What happened to the quants in August 2007? Evidence from factors and transactions data
Has international financial co-movement changed? Emerging markets in the 2007-2009 financial crisis
Currency crisis and the forward discount bias: Evidence from emerging economies under breaks
The Eurozone in the Current Crisis
Crisis "Shock Factors" and the Cross-Section of Global Equity Returns | Published
Bank Capital: Lessons from the Financial Crisis
What Caused the Global Financial Crisis - Evidence on the Drivers of Financial Imbalances 1999-2007
Over The Cliff: From the Subprime to the Global Financial Crisis | Published
The Global Financial Crisis of 2007-08: Is it Unprecedented?
Currency bid-ask spread dynamics and the Asian crisis: Evidence across currency regimes
Foreclosures, House Prices, and the Real Economy
Interpreting Currency Movements During the Crisis: What's the Role of Interest Rate Differentials?
The global financial crisis and the evolution of markets, institutions and regulation
Trade and Trade Finance in the 2008-09 Financial Crisis
Global Shocks and their Impact on Low-Income Countries: Lessons from the Global Financial Crisis
Government Debt Issuance in the Euro Area: The Impact of the Financial Crisis
The Impact of Monetary Policy on Financial Markets in Small Open Economies: More or Less Effective During the Global Financial Crisis?
A Year of Living Dangerously: The Management of the Financial Crisis in 2008
The Irish Crisis
Market discipline, financial crisis and regulatory changes: Evidence from Indonesian banks
Market-specific and Currency-specific Risk During the Global Financial Crisis: Evidence from the Interbank Markets in Tokyo and London
Trade Adjustment and Productivity in Large Crises | Published
ECB Repo Rate Setting During the Financial Crisis
How Resilient Were Emerging Economies to the Global Crisis? | Published
Impact of the Global Crisis on Banking Sector Soundness in Asian Low-Income Countries
Determinants of bank profitability before and during the crisis: Evidence from Switzerland
Liquidity risk management and credit supply in the financial crisis
Explaining asset pricing puzzles associated with the 1987 market crash
The Impact of the Global Financial C`risis on Microfinance and Policy Implications
The effects of the subprime crisis on the Latin American financial markets: An empirical assessment
Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance
Independent component analysis for realized volatility: Analysis of the stock market crash of 2008
The impact of the financial crisis on new firm registration
Do hard pegs avoid currency crises? An evaluation using matching estimators
The international propagation of the financial crisis of 2008 and a comparison with 1931
Investment Dynamics in the Aftermath of the Asian Financial Crisis: A Firm-Level Analysis
The Financial Crisis and The Geography of Wealth Transfers
External Adjustment and the Global Crisis
The role of macroeconomic policies in the global crisis
The Great Recession: US dynamics and spillovers to the world economy
The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip
How Costly Are Debt Crises? | Published
The integration of the credit default swap markets during the US subprime crisis: Dynamic correlation analysis
Corporate bond liquidity before and after the onset of the subprime crisis
Anatomy of a meltdown: The risk neutral density for the S&P 500 in the fall of 2008
Arresting Banking Panics: Federal Reserve Liquidity Provision and the Forgotten Panic of 1929
Understanding Liquidity and Credit Risks in the Financial Crisis
Pricing of Sovereign Credit Risk: Evidence from Advanced Economies During the Financial Crisis
The Impact of Foreign Liabilities on Small Firms: Firm-Level Evidence from the Korean Crisis | Published
How Risky Are Banks’ Risk Weighted Assets? Evidence from the Financial Crisis
Cross-border bank lending, risk aversion and the financial crisis
Financial crises and labor market turbulence
The dollar squeeze of the financial crisis
Currency Crises During the Great Recession: Is This Time Different? | Published
Asymmetric propagation of financial crises during the Great Depression
Gambling for Redemption and Self-Fulfilling Debt Crises
How did a domestic housing slump turn into a global financial crisis?
The global financial crisis: Explaining cross-country differences in the output impact
The U.S. and Irish credit crises: Their distinctive differences and common features
Sovereign debt disputes: A database on government coerciveness during debt crises
Bank Funding Structures and Risk: Evidence from the Global Financial Crisis | Published
The dynamics of a complex system: The exchange rate crisis in Southeast Asia
The roles of news and volatility in stock market correlations during the global financial crisis
Are two heads better than one? Evidence from the thrift crisis
The Greek financial crisis: Growing imbalances and sovereign spreads
The EONIA spread before and during the crisis of 2007–2009: The role of liquidity and credit risk
Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession
The Quiet Run of 2011: Money Market Funds and the European Debt Crisis
International Financial Integration and Crisis Intensity
On factors explaining the 2008 financial crisis
Global imbalances, cross-market linkages, and the financial crisis: A multivariate Markov-switching analysis
The role of institutional investors in propagating the crisis of 2007–2008
The effect of IMF lending on the probability of sovereign debt crises
Channels of Transmission of the 2007/09 Global Crisis to International Bank Lending in Developing Countries
Do corporate boards matter during the current financial crisis?
Developing countries' financial vulnerability to the euro crisis: An event study of equity and bond markets
The credit crisis around the globe: Why did some banks perform better?
Pricing of commercial real estate securities during the 2007–2009 financial crisis
Banks' Liability Structure and Mortgage Lending During the Financial Crisis | Published
Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Time-varying financial stress linkages: Evidence from the LIBOR-OIS spreads
The 2007–2008 financial crisis: Is there evidence of disaster myopia?
The European Sovereign Debt Crisis
Time to ship during financial crises
Sovereign Debt Restructurings 1950 - 2010: Literature Survey, Data, and Stylized Facts
Ambiguity shifts and the 2007–2008 financial crisis
Flight-to-Liquidity and the Great Recession
Some Reflections on the Recent Financial Crisis
How important is the credit channel? An empirical study of the US banking crisis | Published
Long-Run Implications of the Covered Interest Rate Parity Condition: Evidence during the Recent Crisis and Non-Crisis Periods
A perspective on the symptoms and causes of the financial crisis
Spillover Effects of the U.S. Financial Crisis on Financial Markets in Emerging Asian Countries
The effectiveness of monetary policy in steering money market rates during the financial crisis
A Markov regime switching model of crises and contagion: The case of the Iberian countries in the EMS
Spring Forward or Fall Back? The Post-Crisis Recovery of Firms
A dynamic factor model with time-varying loadings for euro area bond markets during the debt crisis
Liquidity Crises, Banking, and the Great Recession
How Does Deposit Insurance Affect Bank Risk? Evidence from the Recent Crisis | Published
Credit spread interdependencies of European states and banks during the financial crisis
The failure to predict the Great Recession. The failure of academic economics? A view focusing on the role of credit
"Black Swans" before the "Black Swan" evidence from international LIBOR-OIS spreads
Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance
The banking bailout of the subprime crisis: Was the bang worth the buck?
Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9
Connected to Whom? International Interbank Borrowing During the Global Crisis
Hedge fund liquidity and performan Evidence from the financial crisis
Hedge funds, CDOs and the financial crisis: An empirical investigation of the "Magnetar trade"
The stock market reaction to the public announcement of a supranational list of too-big-to-fail banks during the financial crisis
International Diversification During the Financial Crisis: A Blessing for Equity Investors?
Institutional Trading and Stock Resiliency: Evidence from the 2007-2009 Financial Crisis
International Income Risk-Sharing and the Global Financial Crisis of 2008-2009
The price of imports and TFP: Application to the Korean crisis of 1997-98
Fiscal Discoveries and Sudden Decouplings
Firms as liquidity providers: Evidence from the 2007-2008 financial crisis
How does capital affect bank performance during financial crises?
Is M&A different during a crisis? Evidence from the European banking sector
Transmission of the global financial crisis to Korea
Access to capital, investment, and the financial crisis
Self-fulfilling crises in the Eurozone: An empirical test
What is the risk of European sovereign debt defaults? Fiscal space, CDS spreads and market pricing of risk
Contagion during the Greek sovereign debt crisis
What can we tell about monetary policy synchronization and interdependence over the 2007-2009 global financial crisis?
Did inquality cause the U.S. financial crisis?
Sudden Stop and Trade Balance Reversal after Asian Crisis: Investment Drought Impact versus Exchange Rate Depreciation
Sovereign Bond Yield Spillovers in the Euro Zone During the Financial and Debt Crisis
Market Discipline during Crisis: Evidence from Bank Depositors in Transition Countries
Financial Literacy and Its Consequences: Evidence from Russia During the Financial Crisis
Exchange Market Pressures during the Financial Crisis: A Bayesian Model Averaging Evidence | Published
Sovereign Debt: A Review
SURVEY PAPER
How I learned to stop worrying and love the crisis
Procyclical Behavior of Institutional Investors During the Recent Financial Crisis: Causes, Impacts, and Challenges
The Vulnerability of Microfinance to Financial Turmoil - Evidence from the Global Financial Crisis
The european crisis and the role of the financial system
Fertility Regulation in an Economic Crisis
The European Crisis in the Context of the History of Previous Financial Crises
The Eurozone Crisis: Phoenix Miracle or Lost Decade?
Ireland's Economic Crisis: The Good, The Bad and the Ugly
Fundamentally Wrong: Market Pricing of Sovereigns and the Greek Financial Crisis
Financial Inclusion for Financial Stability: Access to Bank Deposits and the Growth of Deposits in the Global Financial Crisis
Foreign Bank Behavior during Financial Crises
News Spillovers from the Greek Debt Crisis: Impact on the Eurozone Financial Sector
The Debt Crisis of Eurozone's Peripheral Economies:, Moral Hazard and Its Consequences
Macroeconomic policy responses to financial crises in emerging European economies
Bank Loans and Borrower Value during the Global Financial Crisis: Empirical Evidence from France
Demand Collapse or Credit Crunch to Firms? Evidence from the World Bank's Financial Crisis Survey in Eastern Europe | Published
The Social Impact of Financial Crises: Evidence from the Global Financial Crisis
How do leverage ratios affect bank share performance during financial crises: The Japanese experience of the late 1990s
Do words matter? The impact of communication on the PIIGS' CDS and bond yield spreads during Europe's sovereign debt crisis
The Great Recession: A Self-Fulfilling Global Panic | Published
Impact of the Financial Crisis on Bank Run Risk - Danger of the Days after
Who moves East Asian stock markets? The role of the 2007-2009 global financial crisis
Changing Forces of Gravity: How the Crisis Affected International Banking
Monetary Policy and the First- and Second-Moment Exchange Rate Change during the Global Financial Crisis: Evidence from Thailand
The role of external balance sheets in the financial crisis
Uncertainty and Episodes of Extreme Capital Flows in the Euro Area
The price of imports and TFP: Application to the Korean crisis of 1997-1998
The Determinants of Vulnerability to the Global Financial Crisis 2008 to 2009: Credit Growth and Other Sources of Risk
Corporate bond returns and the financial crisis
The global financial crisis and integration in European retail banking
Interest Rate Pass-Through in the Euro Area during the Financial Crisis: a Multivariate Regime-Switching Approach
Foreign Bank Lending: Evidence from the Global Financial Crisis
The impact of the global financial crisis on mortgage pricing and credit supply
The Great Entanglement: The contagious capacity of the international banking network just before the 2008 crisis
Bank Earnings Forecasts, Risk And The Crisis
Dynamic Debt Runs and Financial Fragility: Evidence from the 2007 ABCP Crisis
The Dynamics of Spillover Effects during the European Sovereign Debt Turmoil
Credit supply shocks and the global financial crisis in three small open economies
Stock Market Liquidity and Macro-Liquidity Shocks: Evidence from the 2007-2009 Financial Crisis
Understanding the accumulation of bank and thrift reserves during the U.S. financial crisis
Predatory lending and the subprime crisis
Macro Financial Determinants of the Great Financial Crisis: Implications for Financial Regulation
The impact of the financial crisis on transatlantic information flows: an intraday analysis
International Financial Flows and the Irish Crisis
Equity market contagion during the global financial crisis: Evidence from the world's eight largest economies
Sovereign Yield Spreads During the Euro Crisis: Fundamental Factors Versus Redenomination Risk
Trading Income and Bank Charter Value during the Financial Crisis: Does Derivatives Dealer Designation Matter?
The sovereign-bank rating channel and rating agencies' downgrades during the European debt crisis
Impacts of the Financial Crisis on Eurozone Sovereign CDS Spreads
Testing the fire-sale FDI hypothesis for the European financial crisis
Floating a "lifeboat": The Banque de France and the Crisis of 1889
Local banking Panics of the 1920s: Identification and Determinants
VaR performance during the subprime and sovereign debt crises: An application to emerging markets
The effectiveness of non-standard monetary policy in addressing liquidity risk during the financial crisis: The experiences of the Federal Reserve and the European Central Bank
Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis
Long-Term Damage from the Great Recession in OECD Countries
The ECB and the banks: the tale of two crises
Lehman Brothers: What Did Markets Know?
Monetary policy, long real yields and the financial crisis
Credit rating agency downgrades and the Eurozone sovereign debt crises
Financial Markets, Banks' Cost of Funding, and Firms' Decisions: Lessons from Two Crises
The Cost of Financial Frictions for Life Insurers
Inflation Dynamics During the Financial Crisis | Published
Increase in Home Bias and the Eurozone Sovereign Debt Crisis
Bank Ownership and Credit Growth in Emerging Markets During and After the 2008-09 Financial Crisis - A Cross-Regional Comparison
Credit Rating Agency Downgrades and the Eurozone Sovereign Debt Crises
A Distant Mirror of Debt, Default, and Relief
The Impact of the Global Financial Crisis on Banking Globalization
Banking Relationships and Syndicated Loans during the 2008 Financial Crisis
The Spatial Probit Model - An Application to the Study of Banking Crises at the End of the 90's
Can European bank bailouts work?
Foreign Bank Subsidiaries' Default Risk During the Global Crisis: What Factors Help Insulate Affiliates from Their Parents?
Credit Conditions and Foreign Direct Investment During the Global Financial Crisis
Who is to Blame: Foreign Ownership or Foreign Funding?
Market efficiency during the global financial crisis: Empirical evidence from European banks
The euro exchange rate during the European sovereign debt crisis - Dancing to its own tune?
Investor induced contagion during the banking and European sovereign debt crisis of 2007-2012: Wealth effect or portfolio rebalancing?
Impacts of the financial crisis on eurozone sovereign CDS spreads
Does the stock market reward innovation? European stock index reaction to negative news during the global financial crisis
Was the European sovereign crisis self-fulfilling? Empirical evidence about the drivers of market sentiments
Hits and runs: Determinants of the cross-country variation in the severity of impact from the 2008-09 financial crisis
The Economic Effects of a Borrower Bailout: Evidence from an Emerging Market | Published
Multinational banks in the crisis: Foreign affiliate lending as a mirror of funding pressure and competition on the internal capital market
The impact of the EU/ECB/IMF bailout programs on the financial and real sectors of the ASE during the Greek sovereign crisis
The great entanglement: The contagious capacity of the international banking network just before the 2008 crisis
Hong Kong's Currency Crisis: A Test of the 1990s 'Washington Consensus' View
Unprecedented Actions: The Federal Reserve's Response to the Global Financial Crisis in Historical Perspective
The "greatest" carry trade ever? Understanding eurozone bank risks
Flight to liquidity and the Great Recession | Published
State dissolution, sovereign debt and default: Lessons from the UK and Ireland, 1920-1938
Hedging European government bond portfolios during the recent sovereign debt crisis
Banks' supply of long term credit after a liquidity shock: Evidence from 2007-2009
Equilibrium Sovereign Default with Exchange Rate Depreciation
The long and the short of it: Sovereign debt crises and debt maturity
How the Euro-Area Sovereign-Debt Crisis Led to a Collapse in Bank Equity Prices
Credit Booms, Banking Crises, and the Current Account
International Currency Exposures, Valuation Effects, and the Global Financial Crisis | Published
Euro-Area and US Banks Behavior, and ECB-Fed Monetary Policies during the Global Financial Crisis: A Comparison
Ending the Euro Crisis? | Published
Macroeconomic effects of simultaneous implementation of reforms after the crisis
Sovereign default risk and commitment for fiscal adjustment
Exchange rate risk management: What can we learn from financial crises?
Sovereigns and banks in the euro area: a tale of two crises
China's financial crisis - the role of banks and monetary policy
Cross-Border Liquidity, Relationships and Monetary Policy: Evidence from the Euro Area Interbank Crisis
Our currency, your problem? The global effects of the euro debt crisis
Bank loan availability and trade credit for small businesses during the financial crisis
International Currency Exposures, Valuation Effects and the Global Financial Crisis
Liquidity matters after all: Asymmetric news and stock market volatility before and after the global financial crisis
CEO risk-taking incentives and bank failure during the 2007-2010 financial crisis
The Subprime Crisis: Is Government Housing Policy to Blame?
Bank ownership, lending, and local economic performance during the 2008-2009 financial crisis
The importance of trade and capital imbalances in the European debt crisis
Which financial stocks did short sellers target in the subprime crisis?
Inflation Dynamics During the Financial Crisis
Abstract: Firms with limited internal liquidity significantly increased prices in 2008, while their liquidity unconstrained counterparts slashed prices. Differences in the firms’ price-setting behavior were concentrated in sectors likely characterized by customer markets. We develop a model, in which firms face financial frictions, while setting prices in a customer-markets setting. Financial distortions create an incentive for firms to raise prices in response to adverse demand or financial shocks. These results reflect the firms’ reaction to preserve internal liquidity and avoid accessing external finance, factors that strengthen the countercyclical behavior of markups and attenuate the response of inflation to fluctuations in output.
The determinants of bank risks: Evidence from the recent financial crisis
The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises
Social capital and the cost of credit: evidence from a crisis
Foreign bank diversification and efficiency prior to and during the financial crisis: Does one business model fit all? | Published
Super-exponential growth expectations and the global financial crisis
Household Debt and Defaults from 2000 to 2010: Facts from Credit Bureau Data
TARP Effect on Bank Lending Behaviour: Evidence from the last Financial Crisis
How the euro crisis ends: Not with a bang but a whimper
The euro crisis: Where to from here?
Sovereign Default: The Role of Expectations
A New Look at the U.S. Foreclosure Crisis: Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012
Market perceptions of US and European policy actions around the subprime crisis
Did the Financial Reforms of the Early 1990s Fail? A Comparison of Bank Failures and FDIC Losses in the 1986-92 and 2007-13 Periods
The 2012 Eurozone Crisis and the ECB's OMT Program: A Debt-Overhang Banking and Sovereign Crisis Interpretation The 2012 Eurozone Crisis and the ECB's OMT Program: A Debt-Overhang Banking and Sovereign Crisis Interpretation | Published
Sovereign Default, Debt Restructuring, and Recovery Rates: Was the Argentinean "Haircut" Excessive?
Corporate payout, cash retention, and the supply of credit: Evidence from the 2008-2009 credit crisis
How Does Post-Crisis Bank Capital Adequacy Affect Firm Investment?
Loan Originations and Defaults in the Mortgage Crisis: Further Evidence
Bank bailouts and competition - Did TARP distort competition among sound banks?
Corporate Debt Structure and the Financial Crisis
The role of allocative efficiency in a decade of recovery?
Why Did Bank Lending Rates Diverge from Policy Rates After the Financial Crisis?
The Costs of Sovereign Default: Evidence from Argentina | Published
The impact of institutional environment on the capital structure of firms during recent financial crises
The Microeconomic Dimensions of the Eurozone Crisis and Why European Politics Cannot Solve Them
The interest rate pass-through in the euro area during the sovereign debt crisis | Published
Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation
Heterogeneous agents, the financial crisis and exchange rate predictability
Reverse spillover: Evidence during emerging market financial turmoil in 2013-2014
The long history of financial boom-bust cycles in Iceland - Part I: Financial crises
Financing constraints, employment, and labor compensation: evidence from the subprime mortgage crisis
The Interaction between Funding Liquidity and Market Liquidity: Evidence from Subprime and European Crises
Disclosure, banks CDS spreads and the European sovereign crisis
The determinants of long-term debt issuance by European banks: evidence of two crises
Jagged cliffs and stumbling blocks: interest rate pass-through fragmentation during the Euro area crisis
How Investor Portfolios Shape Regulatory Outcomes: Privatized Infrastructure After Crises
The supply of long-term credit after a funding shock: evidence from 2007-2009
Discount window stigma during the 2007-2008 financial crisis
International liquidity and the European sovereign debt crisis: Was euro area unconventional monetary policy successful?
Central bank communication in the financial crisis: Evidence from a survey of financial market participants
The impact of monetary policy announcements on the stock price of large European banks during the financial crisis
Did Foreign Banks "Cut and Run" or Stay Committed to Emerging Europe During the Crises? | Published
The Pass-Through of Exchange Rate in the Context of the European Sovereign Debt Crisis
The U.S. Debt Restructuring of 1933: Consequences and Lessons
Preventing Self-Fulfilling Crises
Creditor moral hazard during the EMU debt crisis
Loan supply, credit markets and the euro area financial crisis | Published
Good-Bye financial crash, hello financial eclecticism: Latin American responses to the 2008-09 global financial crisis
The supply of long-term credit after a funding shock: evidence from 2007-2009
Corporate investment and bank-dependent borrowers during the recent financial crisis
How the Euro-Area Sovereign-Debt Crisis Led to a Collapse in Bank Equity Prices
Credit policies before and during the financial crisis
Did foreign banks "cut and run" or stay committed to Emerging Europe during the crises?
Interdependence between Sovereign and Bank CDS Spreads in Eurozone during the European Debt Crisis - The PSI Effect
Shadow economies at times of banking crises: Empirics and theory
The Tale of Two Great Crises
The impact of the global financial crisis on firms'capital structure
The 2008 Financial Crisis and the Lack of Retaliatory Trade Intervention
The systemic risk of European banks during the financial and sovereign debt crises
Audit quality, investor protection and earnings management during the financial crisis of 2008: An international perspective
An anatomy of credit risk transfer between sovereign and financials in the Eurozone crisis
Equity market contagion during global financial and Eurozone crises: Evidence from a dynamic correlation analysis
Lending growth during the financial crisis and the sovereign debt crisis: The role of bank ownership type
Argentina's post-2001 economy and the 2014 default
Financial crises and the evolution of credit reallocation: Evidence from Korea
Tracking Variation in Systemic Risk at US Banks During 1974-2013
The banking sector and the Swiss financial account during the financial and European debt crises
Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area | Published
Foreign Bank Subsidiaries' Default Risk during the Global Crisis: What Factors Help Insulate Affiliates from their Parents?
Local bank competition and small business lending after the onset of the financial crisis
Bank Loan Announcements and Borrower Stock Returns Before and During the Recent Financial Crisis
The Role of Complexity for Bank Risk during the Financial Crisis: Evidence from a Novel Dataset
Securities trading by banks and credit supply: Micro-evidence from the crisis
Did the global financial crisis hit Africa? Insights from a multi-country firm level survey
The Analytics of the Greek Crisis
The impacts of the 2008 and 2011 crises on the Japan REIT market
Bond risk premia, macroeconomic factors and financial crisis in the euro area
Risk Coping by Firms during the Crisis
Understanding Bank Payouts during the Crisis of 2007-2009
US bank credit spreads during the financial crisis
Strong Sterling Pound and Weak European Currencies in the Crises: Evidence from Covered Interest Parity of Secured Rates
Household risk taking after the financial crisis
Increase in home bias in the Eurozone debt crisis: The role of domestic shocks
Balance Sheet Effects on Monetary and Financial Spillovers: The East Asian Crisis Plus 20 | Published
On the differential impact of securitization on bank lending during the financial crisis
Fiscal policy during the crisis: A look on Germany and the Euro area with GEAR
Charter value and bank stability before and after the global financial crisis of 2007-2008
Returns, correlations, and volatilities in equity markets: Evidence from six OECD countries during the US financial crisis
Emerging market sovereign bond spreads, credit ratings and global financial crisis
Government Support of Banks and Bank Lending
The Output Costs of Hard and Soft Sovereign Default | Published
Ireland's 2010 EU/IMF intervention: Costs and benefits
Misallocation and productivity in the lead up to the Eurozone crisis
Inflation Dynamics During the Financial Crisis
Should I stay or should I go? Firms' mobility across banks in the aftermath of financial turmoil
Explaining the Euro crisis: Current account imbalances, credit booms and economic policy in different economic paradigms
Redistribution, inequality and political participation: Evidence from Mexico during the 2008 financial crisis
Welfare effects of changed prices The "Tortilla Crisis" revisited
Synopsis of the Euro Area Financial Crisis
The Post-Crisis Slump in the Euro Area and the US: Evidence from an Estimated Three-Region DSGE Model
Capital controls in Brazil: Effective?
Exchange Rate Regimes and Welfare Losses from Foreign Crises: The Impact of the US Financial Crisis on Mexico
The fiscal mix in the euro-area crisis: dimensions and a model-based assessment of effects
Learning from financial crisis: the experience of Nordic banks
Monetary and fiscal policy in advanced and developing countries: An analysis before and after the financial crisis
Financing constraints and fixed-term employment: Evidence from the 2008-9 financial crisis
The (Unintended?) Consequences of the Largest Liquidity Injection Ever
Optimal capital, regulatory requirements and bank performance in times of crisis: Evidence from France
Sovereign risk and the impact of crisis: Evidence from Latin America
What happened to global banking after the crisis?
Credit Misallocation During the European Financial Crisis | Published
Regime-Dependent Sovereign Risk Pricing During the Euro Crisis
Revisiting the behavior of small and large firms during the 2008 financial crisis
Self-fulfilling dynamics: The interactions of sovereign spreads, sovereign ratings and bank ratings during the euro financial crisis
Illiquid Collateral and Bank Lending during the European Sovereign Debt Crisis
Identifying and measuring the contagion channels at work in the European financial crises
Human Capital and Shocks: Evidence on Education, Health, and Nutrition
Determinants of bank lending in Europe and the United States: Evidence from crisis and post-crisis years
Bank Credit, Liquidity Shocks and Firm Performance: Evidence from the Financial Crisis of 2007-2009
Credit availability and asset price: Empirical analysis of the Japanese bubbles in 1980s
Precommitments for Financial Self-Control? Micro Evidence from the 2003 Korean Credit Crisis
Flexibility of Adjustment to Shocks: Economic Growth and Volatility of Middle-Income Countries Before and After the Global Financial Crisis of 2008
The Role of Stock-Flow Adjustment during the Global Financial Crisis | Published
Realized (co)variances of eurozone sovereign yields during the crisis: The impact of news and the Securities Markets Programme
The interbank network across the global financial crisis: Evidence from Italy
The Disappointing Recovery of Output after 2009
The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis | Published
Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
Shocks and Shock Absorbers in Japanese Bonds and Banks During the Global Financial Crisis
Contagion of the eurozone debt crisis
The EU debt crisis: Testing and revisiting conventional legal doctrine
Could the boom-bust in the eurozone periphery have been prevented?
What's Mine Is Yours: Sovereign Risk Transmission during the European Debt Crisis
Credit Growth and the Financial Crisis: A New Narrative | Published
International financial integration, crises, and monetary policy: evidence from the euro area interbank crises
The monetary policy origins of the eurozone crisis
Beyond spreads: Measuring sovereign market stress in the euro area
Risk Taking Incentives and the Great Financial Crisis
Market Liquidity after the Financial Crisis
Interbank networks in the National Banking Era: Their purpose and their role in the Panic of 1893
Foreign banks as shock absorbers in the financial crisis?
A Matter of Trust? The Bond Market Benefits of Corporate Social Capital during the Financial Crisis
Why Some Times Are Different: Macroeconomic Policy and the Aftermath of Financial Crises
The Consumption Effects of the 2007-2008 Financial Crisis: Evidence from Households in Denmark
Bitcoin and the bailout
Have accounting numbers lost their value relevance during the recent financial credit crisis?
The Macroeconomic Effects of Banking Crises: Evidence from the United Kingdom, 1750-1938
Did Saving Wall Street Really Save Main Street? The Real Effects of TARP on Local Economic Conditions
The bank lending channel of monetary policy in EU countries during the global financial crisis
The Impact of Japanese Monetary Policy Crisis Management on the Japanese Banking Sector
Liquidity provision as a monetary policy tool: The ECB's non-standard measures after the financial crisis
Lending activity and credit supply in Croatia during the crisis
The Costs of (sub)Sovereign Default Risk: Evidence from Puerto Rico
Comparison of Small Bank Failures and FDIC Losses in the 1986-92 and 2007-13 Banking Crises
On the determinants of the 2008 financial crisis: a Bayesian approach to the selection of groups and variables
Crisis and Reform: The 1893 Demise of Banca Romana
Labor market rigidity, social policies and the labor share: Empirical evidence before and after the big crisis
Systemic risk and systemic importance measures during the crisis
Group affiliation in periods of credit contraction and bank's reaction: evidence from the Greek crisis
Optimal Debt Management in a Liquidity Trap
Volatility co-movements and spillover effects within the Eurozone economies: A multivariate GARCH approach using the financial stress index
Loan supply and demand in Germany's three-pillar banking system during the financial crisis
Financial crises at insurance companies: learning from the demise of the National Surety Company during the Great Depression
Bank networks and suspensions in the 1893 panic: evidence from the state banks and their correspondents in Kansas
Export market exit and financial health in crises periods
Timing of banks' loan loss provisioning during the crisis
Foreign Currency Borrowing, Exports and Firm Performance: Evidence from a Currency Crisis
The Tail that Keeps the Riskless Rate Low
Sovereign - bank risk interconnections during the Greek financial crisis and the role of the Italian debt
International evidence on firm level decisions in response to the crisis: Shareholders vs. other stakeholders
Australia saved from the financial crisis by policy or by exports?
Effect of Income on Trust Evidence from the 2009 Economic Crisis in Russia
Mortgage-Backed Securities and the Financial Crisis of 2008: a Post Mortem
Intermediary Asset Pricing and the Financial Crisis
Bond pricing in the biggest city bankruptcy in history: The effects of state emergency management laws on default risk
Debt Overhang, Rollover Risk, and Corporate Investment: Evidence from the European Crisis | Published
The sovereign crisis and Italy's potential output
The transmission of the financial crisis in 1907: an empirical investigation
Does a financial accelerator improve forecasts during financial crises?: Evidence from Japan with Prediction Pool Methods
Time varying risk aversion
Managerial myopia and the mortgage meltdown
Bad loans and resource allocation in crisis years: Evidence from European banks
Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky?
Real exchange rate appreciation after the financial crisis of 2008-2009: Misalignment or fundamental correction?
Balance sheet strength and bank lending: Evidence from the global financial crisis
A tale of two crises: Federal transfers and regional economies in Russia in 2009 and 2014-2015
Financial stability of Islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council
Credit Misallocation During the European Financial Crisis
Sectoral dynamics of financial contagion in Europe - The cases of the recent crises episodes
Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans
Notes on Bonds: Illiquidity Feedback During the Financial Crisis
Self-Employment, Wealth and Start-up Costs: Evidence from a Financial Crisis
Does McCallum's rule outperform Taylor's rule during the financial crisis?
European banks after the global financial crisis: Peak accumulated losses, twin crises and business models
Lender of Last Resort versus Buyer of Last Resort - Evidence from the European Sovereign Debt Crisis
The Human Side of Austerity: Health Spending and Outcomes During the Greek Crisis | Published
Bank use of sovereign CDS in the eurozone crisis: Hedging and risk incentives
Would macroprudential regulation have prevented the last crisis? | Published
Does transparency pay? Evidence from IMF data transparency policy reforms and emerging market sovereign bond spreads
Leverage, CEO Risk-Taking Incentives, and Bank Failure during the 2007-10 Financial Crisis
Migrants' well-being during the global financial crisis: Economic and social predictors
Financial market spillovers during the quantitative easing programmes of the global financial crisis (2007-2009) and the European debt crisis
Non-Performing Loans, Cost of Capital, and Lending Supply: Lessons from the Eurozone Banking Crisis
Bubble contagion: Evidence from Japan's asset price bubble of the 1980-90s
Stock liquidity and ownership structure during and after the 2008 Global Financial Crisis: Empirical evidence from an emerging market
Fiscal Stimulus Impact on Firms' Profitability During the Global Financial Crisis
The Conventional Monetary Policy and Term Structure of Interest Rates During the Financial Crisis
Bank capital, lending booms, and busts. Evidence from Spain in the last 150 years
Bank shocks and firm performance: New evidence from the sovereign debt crisis
The case for a European rating agency: Evidence from the Eurozone sovereign debt crisis
Do financial crises cleanse the banking industry? Evidence from US commercial bank exits
Who benefits in a crisis? Evidence from hedge fund stock and option holdings
Bank Lending and the European Sovereign Debt Crisis
Interbank Connections, Contagion and Bank Distress in the Great Depression
Domestic banks as lightning rods? Home bias and information during Eurozone crisis
The Euro Crisis in the Mirror of the EMS: How Tying Odysseus to the Mast Avoided the Sirens but Led Him to Charybdis
European policy and markets: Did policy initiatives stem the sovereign debt crisis in the euro area?
The Austrian banking crisis of 1931: a reassessment
Information brokers and the making of the Baring crisis, 1857-1890
Private Equity and Financial Fragility during the Crisis
Prone to Fail: The Pre-crisis Financial System
Did monetary policy fuel the housing bubble? An application to Ireland
The Global Economic Recovery 10 Years After the 2008 Financial Crisis
The Transmission of Bank Liquidity Shocks: Evidence from House Prices
Beauties of the emperor: An investigation of a Chinese government bailout
The effect of bank bail-outs in the EU
Foreign banks, financial crises and economic growth in Europe
Rules and discretion(s) in prudential regulation and supervision: evidence from EU banks in the run-up to the crisis
Bounded rationality and the ineffectiveness of big push policies
Competition and Bank Risk the Role of Securitization and Bank Capital
Turning It Up To Eleven: Re-Evaluating the Role of Financial Frictions in the 2007-2008 Economic Crisis
The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector
Did Rating Agencies Make the Euro Crisis Worse?
Estimating Loss-in-Output as a Cost of a Financial Crisis
Policy mix and the U.S. trade balance
Market concentration and bank M&As: Evidence from the European sovereign debt crisis
Comparing post-crisis dynamics across Euro Area countries with the Global Multi-country model
A Crash Course on the Euro Crisis
Did connected hedge funds benefit from bank bailouts during the financial crisis?
Competition and Strategic Incentives in the Market for Credit Ratings: Empirics of the Financial Crisis of 2007 (#5)
Why is contagion asymmetric during the European sovereign crisis?
Slow Post-financial Crisis Recovery and Monetary Policy
The Invisible Hand of the Government: Moral Suasion during the European Sovereign Debt Crisis
The Transformation and Performance of Emerging Market Economies Across the Great Divide of the Global Financial Crisis
The sources of sovereign risk: a calibration based on Lévy stochastic processes
Relationship Banking, Network Dynamics and Sovereign Default
Accounting for the Slow Recovery from the Great Recession: The Role of Credit Constraints
The Federal Funds Market over the 2007-09 Crisis
What do almost 20 years of micro data and two crises say about the relationship between central bank and interbank market liquidity? Evidence from Italy
Bank mergers in the financial crisis: A competition policy perspective
Learning about banks' net worth and the slow recovery after the financial crisis
Mortgage-Related Bank Penalties and Systemic Risk Among U.S. Banks
Anatomy of credit-less recoveries
Post-Crisis Changes in Global Bank Business Models: A New Taxonomy
How has empirical monetary policy analysis in the U.S. changed after the financial crisis?
Banks as Lightning Rods? Home Bias and Information during the Eurozone Crisis
The fire-sale channels of universal banks in the European sovereign debt crisis
A retrospective on the subprime crisis and its aftermath ten years after Lehman's collapse
Bank Loan Deterioration: Is It All Fault of the Crisis?
Government Guarantees and Bank Vulnerability during a Crisis: Evidence from an Emerging Market
Absence of speculation in the European sovereign debt markets
Accounting for post-crisis inflation: A retro analysis
Is There Help Indeed, if There is Help in Need? The case of credit unions during the global financial crisis
International Banking and Financial Fragility: The Contrasting Experience of Brazil and Mexico in the Lead-up to the 1982 Crisis
Barbados' 2018-19 Sovereign Debt Restructuring-A Sea Change?
Investor Information Acquisition and Money Market Fund Risk Rebalancing during the 2011-2012 Eurozone Crisis
US stock prices and recency-biased learning in the run-up to the Global Financial Crisis and its aftermath
Treasury Inconvenience Yields during the COVID-19 Crisis | Published
Did Unconventional Interventions Unfreeze the Credit Market? (#9)
Evaluating sovereign risk spillovers on domestic banks during the European debt crisis
Dollar funding costs during the Covid-19 crisis through the lens of the FX swap market
When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed's Response
Releasing bank buffers to cushion the crisis - a quantitative assessment
The role of a creditor in the making of a debt crisis: the French government's financial support for Poland, between cold war interests and economic constraints, 1958-1981
Deadly Debt Crises: COVID-19 in Emerging Markets
Solidarity and Fairness in Times of Crisis
Corporate Bond Liquidity During the COVID-19 Crisis
The Distributional Impact of Recessions: the Global Financial Crisis and the Pandemic Recession
Kicking the Can Down the Road: Government Interventions in the European Banking Sector | Published
'Mingled in an almost inextricable confusion': the panics of 1873 and the experience of globalization
The Economics of Sovereign Debt, Bailouts and the Eurozone Crisis
Immigration and Wage Dynamics: Evidence from the Mexican Peso Crisis
The (un)intended effects of government bailouts: The impact of TARP on the interbank market and bank risk-taking
On the financial market impact of euro area monetary policy: A comparative study before and after the Global Financial Crisis
Distortions in Production Networks
International banking and transmission of the 1931 financial crisis
Spatial contagion in the subprime crisis context: Adjusted correlation versus local correlation approaches
Contagion without deposit insurance: The South African small bank crisis of 2002/3
The effect of emergency liquidity assistance (ELA) on bank lending during the euro area crisis
Seven transformative crises from European revolution to corona: globalization and state capacity
Was a sudden stop at the origin of German hyperinflation?
Supervisors against regulation? The Basel Committee and country risk before the International Debt Crisis (1976-1982)
Bank credit supply and firm innovation behavior in the financial crisis
The European Central Bank's monetary pillar after the financial crisis
Impact of the 2008-2009 financial crisis on the external and internal linkages of European frontier stock markets
US macroeconomic news effects around the US and European financial crises: Evidence from Brazilian and Mexican equity indices
The effects of inequality in the 1997-98 Asian crisis and the 2008-09 global tsunami: The case of five Asian economies
Bank lending: The bank ownership focus in the pre- and post-global financial crisis periods
Imported or Home Grown? The 1992-3 EMS Crisis | Published
Repricing of risk and EME assets: the behaviour of Irish-domiciled funds during the COVID-19 crisis
Entrepreneurship During an Economic Crisis: Evidence from Rural Thailand
Trade credit, group affiliation, and credit contraction: Evidence from the 1997 Korean financial crisis
Financialization of Commodities Before and After the Great Financial Crisis
SURVEY PAPER
The federal funds network and monetary policy transmission: Evidence from the 2007-2009 financial crisis
Default Option Exercise over the Financial Crisis and beyond
Exchange Rate Pass-Through, Monetary Policy, and Real Exchange Rates: Iceland and the 2008 Crisis
Why Did Bank Stocks Crash During COVID-19?
Why was the ECB's reaction to Covid-19 crisis faster than after the 2008 financial crash?
Modeling U.S. monetary policy during the global financial crisis and lessons for Covid-19
European depositors' behavior and crisis sentiment
Effectiveness of policy interventions during financial crises in China and Russia: Lessons for the COVID-19 pandemic
Crisis Management in Canada: Analyzing Default Risk and Liquidity Demand during Financial Stress
The impact of the rise and collapse of Japan's housing price bubble on households' lifetime utility
Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in the UK
Trust in government in times of crisis: A quasi-experiment during the two world wars?
What is on the ECB's mind? Monetary policy before and after the global financial crisis
The Value of Internal Sources of Funding Liquidity: U.S. Broker-Dealers and the Financial Crisis
Financial Crisis and Non-performing Exposures in Greece
Global banking stability in the shadow of Covid-19 outbreak
Information shares and market quality before and during the European sovereign debt crisis
The asymmetric impact of the pandemic crisis on interest rates on public debt in the Eurozone
The IRB model, bank regulatory arbitrage, and the Eurozone crisis
Wages and Firm Performance: Evidence from the 2008 Financial Crisis
The Aftermath of Sovereign Debt Crises: A Narrative Approach
Debt relief and slow recovery: A decade after Lehman
Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis
COVID-induced sovereign risk in the euro area: When did the ECB stop the spread?
Capital ratios and banking crises in the European Union
In times of crisis does ownership matter? Liquidity extraction through dividends during the 2007-2009 financial crisis
Policies in Hard Times: Assessing the Impact of Financial Crises on Structural Reforms
Bank risk-taking and corporate investment: Evidence from the Global Financial Crisis of 2007-2009
The 2000s Housing Cycle With 2020 Hindsight: A Neo-Kindlebergerian View | Published
Was a deterioration in 'connectedness' a leading indicator of the European sovereign debt crisis?
Financial fragility in the COVID-19 crisis: The case of investment funds in corporate bond markets
External Balance Sheets and the COVID-19 Crisis
Deviations from Covered Interest Parity in the Emerging Markets After the 2008 Global Financial Crisis
European financial systems through the crisis: Patterns and convergence
Intersectoral systemic risk spillovers between energy and agriculture under the financial and COVID-19 crises
Are safe haven assets really safe during the 2008 global financial crisis and COVID-19 pandemic?
Tail risk in the European sovereign bond market during the financial crises: Detecting the influence of the European Central Bank
The impact of COVID-19 pandemic on bank lending around the world
Bank systemic risk around COVID-19: A cross-country analysis
Global syndicated lending during the COVID-19 pandemic
COVID-19, volatility dynamics, and sentiment trading
The dynamics of non-performing loans during banking crises: A new database with post-COVID-19 implications
Time is money: Real effects of relationship lending in a crisis
Federal reserve intervention and systemic risk during financial crises
Government intervention and bank markups: Lessons from the global financial crisis for the COVID-19 crisis
Banking sector performance during the COVID-19 crisis
Optimal monetary-fiscal policy in the euro area liquidity crisis
Pre- and Post-Global Financial Crisis Policy Multipliers
Imported or Home Grown? The 1992-3 EMS Crisis
Macroprudential Policy during COVID-19: The Role of Policy Space
The Treasury Market in Spring 2020 and the Response of the Federal Reserve
Panel cointegration, quantile regressions, asymmetric adjustments and crises: The case of EU current accounts
The Euro Area credit crunch conundrum: Was it demand or supply driven?
Rare disasters, exchange rates, and macroeconomic policy: Evidence from COVID-19
Ten Years of Evidence: Was Fraud a Force in the Financial Crisis?
The Impact of the Global Financial Crisis on Investment in Finland and South Korea
Wholesale funding runs, global banks' supply of liquidity insurance, and corporate investment
COVID Response: The Fed's Central Bank Swap Lines and FIMA Repo Facility
A Tale of Two Bailouts: Effects of TARP and PPP on Subprime Consumer Debt
Voluntary debt restructuring: the 2017 Greek €29.6 billion bond exchange explained
The Colonial Origins of Banking Crisis in Africa
The Unintended Consequences of Corporate Bond ETFs: Evidence from the Taper Tantrum
Unconventional monetary policy and disaster risk: Evidence from the subprime and COVID-19 crises
Central bank swap arrangements in the COVID-19 crisis
Taming the housing crisis: An LTV macroprudential policy
Fund renaming and fund flows: Evidence from China's stock market crash in 2015
The Distribution of Crisis Credit: Effects on Firm Indebtedness and Aggregate Risk
Cross-subsidization of Bad Credit in a Lending Crisis
Exchange rate expectation, abnormal returns, and the COVID-19 pandemic
Modeling the Great Recession as a Bank Panic: Challenges
Corporate flexibility in a time of crisis
Purchases of sovereign debt securities by banks during the crisis: The role of balance sheet conditions
A Customized Machine Learning Algorithm for Discovering the Shapes of Recovery: Was the Global Financial Crisis Different?
Global financial crisis versus COVID?19: Evidence from sentiment analysis
Seven Finance & Trade Lessons from COVID-19 for Future Pandemics
What drives the risk of European banks during crises? New evidence and insights
Dependence dynamics of stock markets during COVID-19
Global and local banking crises and risk-adjusted efficiency of Indian banks: Are the impacts really perspective-dependent?
Analysis of connectivity between the world's banking markets: The COVID-19 global pandemic shock
The role of state-owned banks in crises: Evidence from German banks during COVID-19
The repo channel of cross-border lending in the European sovereign debt crisis
Contagious margin calls: How COVID-19 threatened global stock market liquidity
What Went Wrong? The Puerto Rican Debt Crisis, the "Treasury Put," and the Failure of Market Discipline
Political connections, investment inefficiency, and the Indian banking crisis
Did small banks trade-off lending with government bond purchases during the sovereign debt crisis?
What drives the risk of European banks during crises? New evidence and insights
The Greek debt crisis: Excusable vs. strategic default
Banking crises, banking mortality and the structuring of the banking market in Switzerland, 1850-2000
Public and private liquidity during crises times: evidence from Emergency Liquidity Assistance (ELA) to Greek banks
The Effect of a Crisis on Trust and Willingness to Reform: Evidence from Survey Panels in Argentina and Uruguay
Policy experiments and financial regulation: Using laboratory methods to evaluate responses to the 2007-2009 financial crisis
Small Business Lending in Financial Crises: The Role of Government-Guaranteed Loans
External sustainability in Spanish economy: Bubbles and crises, 1970-2020
The Right Tool for the Job? Mortgage Distress and Personal Insolvency during the European Debt Crisis
The March 2023 Bank Interventions in Long-Run Context - Silicon Valley Bank and beyond
Signals and Stigmas from Banking Interventions: Lessons from the Bank Holiday in 1933
This time truly is different: The cyclical behaviour of fiscal policy during the Covid-19 crisis
Number of creditors and the real effects of credit supply disruptions
Banks' leverage in foreign exchange derivatives in times of crisis: A tale of two countries
Fiscal Anatomy of Two Crises and an Interlude
Quasi-Fiscal Implications of Central Bank Crisis Interventions: Case Studies
The Debt-Inflation Channel of the German Hyperinflation
Sovereign risk and bank lending: evidence from 1999 Turkish earthquake
The consolidation of public banking in Spain: from the 1970s crisis to the 2008 crisis
Turkish currency crunch: Examining behavior across investor types
Cross-border Italian sovereign risk transmission in EMU countries
Sovereign bond and CDS market contagion: A story from the Eurozone crisis
Cross-border Italian sovereign risk transmission in EMU countries
The Economics of Sovereign Debt, Bailouts, and the Eurozone Crisis
The Macroeconomics of the Greek Depression
Migration and resilience during a global crisis
Green Stocks and the 2023 Banking Crisis
The Effect of Bank Recapitalization Policy on Credit Allocation, Investment, and Productivity: Evidence from a Banking Crisis in Japan
Contagion Effects of the Silicon Valley Bank Run
Firms' responses to foreign demand shocks: Evidence from Indonesia after the global financial crisis
Financialization and sluggish recovery of firms' investment: Global evidence from the 2007-2008 financial crisis
The Twin Deficits, Monetary Instability and Debt Crises in the History of Modern Greece
The Debauchery of Currency and Inflation: Chile, 1970-1973
Can Central Banks Be Heard Over the Sound of Gunfire?
Systemic risk in European banks: Does ownership structure matter?
On the effectiveness of foreign exchange reserves during the 2021-22 U.S. monetary tightening cycle
Financial crisis, global liquidity and trade credit channel: Evidence from Türkiye
Information asymmetry, agency costs, and payout policies: An international analysis of IFRS adoption and the global financial crisis
The role of expectations for currency crisis dynamics - The case of the Turkish lira
Asset purchases and sovereign bond spreads in the euro area during the pandemic
Central bank policies and financial markets: Lessons from the euro crisis
Understanding Bank Payouts during the Crisis of 2007-2009
The Failure of Silicon Valley Bank and the Panic of 2023
On the resilience of US ESG stocks: Evidences from the COVID-19 market crashes
The 2013 Cypriot banking crisis and blame attribution: survey evidence from the first application of a bail-in in the Eurozone
The 1992-93 EMS Crisis and the South: Lessons from the Franc Zone System and the 1994 CFA Franc Devaluation
The 1929 Crash of the New York Stock Exchange as a Liquidity Crisis
Is Inflation Good for Business? The Firm-Level Impact of Inflation Shocks in the Baltics, 1997-2021
Selected microfinance crises: past, present, and future
Investor Attention to Bank Risk During the Spring 2023 Bank Run
1930: first modern crisis
Unless otherwise stated, all works on this page are copyrighted to their respective authors/institutions.
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Calomiris, C.W. & U. Khan (2015)
Swagel, P. (2015)
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Mathonnat, C. & B. Williams (2020)
Cipriani, M. & G. La Spada (2020)
Fouliard, J., M. Howell & H. Rey (2020)
Tomura, H. (2020)
Beltran, D.O. & M.R. Jahan-Parvar (2021)
Sarlin, P. & G. von Schweinitz (2021)
Schroth, J. (2021)
Voellmy, L. (2021)
Ikeda, D. & H. Matsumoto (2021)
Addo, K.A., N. Hussain & J. Iqbal (2021)
Buckley, R., E. Avgouleas & D. Arner (2021)
Rottner, M. (2021/23)
Infante, S. & A.P. Vardoulakis (2021)
Eberhardt, M. & A. Presbitero (2021)
Becker, N. & E. Benmelech (2021)
Baron, M., L. Laeven, J. Pénasse & Y. Usenko (2021)
Battaglia, F., B.G. Buchanan, F. Fiordelisi & O. Ricci (2021)
Chakravarty, S., L. Choo, M.A. Fonseca & T.R. Kaplan (2021)
Pierri, D. & K. Reffett (2021)
Affinito, M., F. Sabatini & M. Stacchini (2021)
Vacca, V.P., F. Bichlmeier, P. Biraschi, N. Boschi, A.J. Álvarez, L. Di Primio, A. Ebner, S. Hoeretzeder, E.L. Ballesteros, C. Miani, G. Ricci, R. Santioni, S. Schellerer & H. Westman (2021)
Egressy, B. & R. Wattenhofer (2021)
Boni, L., J.C. Leach & R.S. White (2021)
Ahnert, T. & D. Martinez-Miera (2021)
El Herradi, M. & A. Leroy (2021)
Shvets, S. (2021)
Mücke, C., L. Pelizzon, V. Pezone & A.V. Thakor (2021)
O'Hara, M. & X.A. Zhou (2021)
Bodea, C., C. Houle & H. Kim (2021)
Gu, C., G. Menzio, R. Wright & Y. Zhu (2021)
Gao, J. & R.R. Reed (2021)
Metrick, A. & P. Schmelzing (2021)
Amador, M. & J. Bianchi (2021)
Lama, R., M. Hakamada & V. Cerra (2021)
Hotchkiss, E.S., D.C. Smith & P. Strömberg (2021)
Fanelli, S. & M. Gonzalez-Eiras (2021)
Boissay, F., F. Collard, J. Galí & C. Manea (2021)
Grytten, O.H. (2021)
Bridges, J., G. Green & M. Joy (2021)
Rösl, G. & F. Seitz (2021)
Hirano, R., Y. Hogen & N. Sudo (2021)
Shukayev, M. & A. Ueberfeldt (2021)
Agarwal, S., S. Mikhed, B. Scholnick & M. Zhang (2021)
Belotti, F., E. Campioni, V. Larocca, F. Marazzi, L. Panaccione & A.P. Mortari (2022)
Nguyen, T.C., V. Castro & J. Wood (2022)
Christiano, L., H. Dalgic & X. Li (2022)
Tang, A. & W. Yao (2022)
Barlevy, G., D. Bird, D. Fershtman & D. Weiss (2022)
Kiss, H.J., I. Rodriguez-Lara & A. Rosa-Garcia (2022)
Minenna, M. (2022)
Abedifar, P., A. Tarazi & L. White (2022)
Leonello, A., C. Mendicino, E. Panetti & D. Porcellacchia (2022)
Vargas, C.O. & J.A. Parra-Polania (2022)
Boyle, G., R. Stover, A. Tiwana & O. Zhylyevskyy (2022)
Fakos, A., P. Sakellaris & T. Tavares (2022)
Blickle, K., M.K. Brunnermeier & S. Luck (2022)
Sim, K.Z. (2022)
Castro Fernández, J.C. (2022)
Liu, Z. & A.J. Sinclair (2022)
Calomiris, C.W. & M.A. Carlson (2022)
Espino, E., J. Kozlowski, F.M. Martin & J.M. Sanchez (2022)
Meinen, P. & A.C. Soares (2022)
Casabianca, E.J., M. Catalano, L. Forni, E. Giarda & S. Passeri (2022)
Martynova, N., E. Perotti & J. Suarez (2022)
Roy, S. (2022)
Altermatt, L., H. van Buggenum & L. Voellmy (2022)
Peck, J. & A. Setayesh (2023)
Lambrecht, B.M. & A.S.L. Tse (2023)
Chan-Lau, J.A., R. Hu, M. Ivanyna, R. Qu & C. Zhong (2023)
Knowles, M. (2023)
Weinstein, E. & G. Muradoglu (2022)
Frydman, C. & C. Xu (2023)
Basco, S., G. Felice, B. Merlevede & M. Mestieri (2023)
Ozili, P.K. (2023)
Ali, H., A. Faruk & T.M. Yousef (2023)
Modena, A. (2023)
Blattner, L., L. Farinha & F. Rebelo (2023)
Dávila, E. & I. Goldstein (2023)
Segura, A. & A. Villacorta (2023)
Keister, T. & Y. Mitkov (2023)
Dosumu, O.E., R. Sakariyahu, O. Oyekola & R. Lawal (2023)
Cepni, O., F. Emirmahmutoglu, I.E. Guney, M.H. Yilmaz (2023)
Joaquim, G., F. Netto & J.R. Ornelas (2023)
Wagner, W. & J. Zeng (2023)
Benmelech, E., J. Yang & M. Zator (2023)
Baños-Caballero, S., P.J. García-Teruel & P. Martínez-Solano (2023)
D'Orazio, P., J. Reale & A.D. Pham (2023)
Iossifov, P.K. & R. Varghese (2023)
Salas, S. & K. Odell (2023)
Schuster, F., M. Wysietzki & J. Zdrzalek (2023)
Sandri, D., F. Grigoli, Y. Gorodnichenko & O. Coibion (2023)
Avezum, L., V. Oliveira & D. Serra (2023)
Mitchener, K.J. & A. Vossmeyer (2023)
Diamond, D.W. (2023)
Kyriazis, N.A., S. Papadamou & P. Tzeremes (2023)
Indarte, S. (2023)
Li, F. & J. Zhou (2023)
Jeong, Y.S. & Y. Baek (2023)
Casarin, R., S. Grassi, F. Ravazzolo & H.K. van Dijk (2023)
Anadu, K.E., P.D. Azar, C. Huang, M. Cipriani, T.M. Eisenbach, G. La Spada, M. Landoni, M. Macchiavelli, A. Malfroy-Camine & J.C. Wang (2023)
Cavallo, E.A. & E. Fernández-Arias (2023)
Wix, C. (2023)
Bräuning, F. & V. Sheremirov (2023)
Stulz, R.M. (2023)
Marchesi, S. & G. Marcolongo (2023)
Zucker Marques, M., L. Mühlich & B. Fritz (2023)
Wang, S. (2023)
Bluwstein, K., M. Buckmann, A. Joseph, S. Kapadia & O. Simsek (2023)
Monroy-Taborda, S. (2023)
Kockerols, T., E.M. Kravik & Y. Mimir (2023)
Aldridge, P., D. Cimon & R. Vala (2023)
Gersbach, H., J-C. Rochet & M. Scheffel (2024)
Liu, X., P. Wang & Z. Yang (2024)
Voellmy, L. (2024)
Wezel, T., H. Sheldon & Z. Fu (2024)
Ghaderi, M., M. Kilic & S.B. Seo (2024)
Matta, R. & R. Perotti (2024)
Carré, E. & L. Le Maux (2024)
Kiley, M. & F.S. Mishkin (2024)
Balance of Payments Crises
Krugman, P.R. (1979)
Calvo, G.A. (1987)
Calvo, G. (2002)
Sturzenegger, F., P. Guidotti & A. Villar (2003)
Edwards, S. (2004)
Edwards, S. (2004)
Eichengreen, B. & M. Adalet (2005)
Komarek, L., Z. Komarkova & M. Melecky (2006)
Komarek, L. & M. Melecky (2006)
Kumhof, M., S. Li & I.K. Yan (2007)
Bussiere, M. (2007)
Liesenfeld, R., G.V. Moura & J-F. Richard (2007)
Assmann, C. (2007)
Alessandria, G., J. Kaboski & V. Midrigan (2008)
Imam, P.A. (2008)
Harada, K. & T. Ito (2008)
Caballero, R.J., E. Farhi & P-O. Gourinchas (2008)
Gautier, P.A. (2009)
Benassy-Quere, A., S. Bereau & V. Mignon (2009)
Kumhof, M. & I.K. Yan (2009)
Bugamelli, M. & F. Paternò (2009)
Bordo, M.D., C.M. Meissner & D. Stuckler (2009/10)
Badinger, H. (2009)
Beine, M., E. Lodigiani & R. Vermeulen (2010)
Taylor, A.M. (2012)
Klemm, A. (2013)
Kalantzis, Y. (2014)
Kumhof, M. & I. Yan (2016)
Forbes, K., I. Hjortsoe & T. Nenova (2016)
Nakatani, R. (2018)
Fenig, G., M. Mileva & L. Petersen (2018)
Verner, E. & G. Gyöngyösi (2020)
Giannetti, M. & Y. Jang (2021)
Bubbles
Herrera, S. & G. Perry (2001)
Collyns, C.V. & A.S. Senhadji (2002)
Ventura, J. (2002/12)
Michel, P. & C. Wigniolle (2003)
Grimaldi, M. & P. De Grauwe (2003)
Barbarino, A. & B. Jovanovic (2004/07)
Bogachan, C. & S. Kariv (2004)
Temin, P. & H-J. Voth (2005)
Kirman, A. & G. Teyssière (2005)
Koustas, Z. & A. Serletis (2005)
Caballero, R.J. & A. Krishnamurthy (2005/06)
Veldkamp, L.L. (2005)
Dufwenberg, M., T. Lindqvist & E. Moore (2005)
Bernhardt, D., M. Campello & E. Kutsoati (2006)
White, E.N. (2006)
Engsted, T. (2006)
Ferreira, J.E.A. (2006)
Cull, R. & M.S.M. Peria (2007)
Gonzalez, L. & C. James (2007)
Schnabl, G. & A. Hoffmann (2007)
Lorenzoni, G. (2007/08)
Cipriani, M. & A. Guarino (2008)
Hommes, C., J. Sonnemans, J. Tuinstra & H. van de Velden (2008)
Hussam, R.N., D. Porter & V.L. Smith (2008)
Hong, H., J. Scheinkman & W. Xiong (2008)
Miller, R.M. (2008)
Mendoza, E.G. & M. Terrones (2008)
Gorton, G.B. (2008)
Waters, G.A. (2008)
Hugonnier, J. (2008/12)
Farmer, R.E.A. (2009/12)
Franke, R. (2009)
Barsky, R.N. (2009)
Hellwig, C. & G. Lorenzoni (2009)
Bosi, S. & T. Seegmuller (2009)
Doblas-Madrid, A. (2009)
Carroll, D.R. & E.R. Young (2009)
Wang, P. & Y. Wen (2009)
Greenwood, R. & S. Nagel (2009)
Frehen, R.G.P., W.N. Goetzmann & K.G. Rouwenhorst (2009/13)
Miller, M. & J.E. Stiglitz (2009/10)
Chen, A-S., L-Y. Cheng & K-F. Cheng (2009)
Burke, J.L. (2009)
Kannan, P., P. Rabanal & A. Scott (2009)
Xiong, W. & J. Yu (2009)
Pintus, P-A. & Y. Weng (2009)
Cahuc, P. & E. Challe (2009)
Adam, K., A. Marcet & J. Beutel (2010/17)
Angeletos, G-M., G. Lorenzoni & A. Pavan (2010)
Lambertini, L., C. Mendicino & M.T. Punzi (2010)
Tomura, H. (2010)
Hirano, T. & N. Yanagawa (2010/17)
Martin, A. & J. Ventura (2010/12)
Lansing, K.S. (2010)
Farhi, E. & J. Tirole (2011)
Gao, Y. & H. Li (2011)
Veld, J.I., R. Raciborski, M. Ratto & W. Roeger (2011)
Al-Anaswah, N. & B. Wilfling (2011)
Challe, E. & X. Ragot (2011)
Araujo, A., R. Novinski & M.R. Páscoa (2011)
Ding, R. & P. Cheng (2011)
Tennant, D. (2011)
Cao, H.H., B. Han & D. Hirshleifer (2011)
Chen, Z. & Q. Duan (2011)
Cerqueti, R. & M. Costantini (2011)
Park, B-J. (2011)
Guarino, A., H. Harmgart & S. Huck (2011)
Farmer, R.E.A. (2011/13)
Park, A. & H. Sabourian (2011)
Alessi, L. & C. Detken (2011)
Branch, W.A. & G.W. Evans (2011)
Lim, B.Y. (2011)
Harras, G. & D. Sornette (2011)
Cociuba, S.E., M. Shukayev & A. Ueberfeldt (2011)
Deck, C., D. Porter & V.L. Smith (2011)
Elekdag, S. & Y. Wu
Gutierrez, L. (2011)
Giglio, S. & T. Severo (2011/12)
Yoon, G. (2012)
Semmler, W. & L. Bernard (2012)
Morone, A. (2012)
Nirei, M., T. Stamatiou & V. Sushko (2012)
Acharya, v.V. & H. Naqvi (2012)
Peterson, B.M. (2012)
Kunieda, T. & A. Shibata (2012/16)
Berlemann, M. & H. Vöpel (2012)
Carvalho, V.M., A. Martin & J. Ventura (2012)
Müller-Plantenberg, N. (2012)
Kirchler, M., J. Huber & Stöckl (2012)
Miao, J. & P. Wang (2012/15)
Miao, J. & P. Wang (2012)
Matsuoka, T. & A. Shibata (2012)
Wang, P. & Y. Wen (2012)
Park, A. & D. Sgroi (2012)
Mendoza, E.G. & M.E. Terrones (2012)
Lansing, K. (2012)
Lamba, H. (2012)
Maldonado, W.L., O.A.F. Tourinho & M. Valli (2012)
Palfrey, T.R. & S.W. Wang (2012)
Martin, A. & J. Ventura (2012)
Wang, P. & J. Miao (2012)
Rannenberg, A. (2012)
Loewenstein, M. & G.A. Willard (2013)
Matsushima, H. (2013)
Sakuragawa, M. (2013)
Jovanovic, B. (2013)
Gali, J. (2013/14)
Asako, K. & Z. Liu (2013)
Scherbina, A. (2013)
Ponomarenko, A. (2013)
Bobenrieth, E.S.A., J.R.A. Bobenrieth & B.D. Wright (2013)
Palan, S. (2013)
Shi, L. & R.M.H. Suen (2013/14)
Moinas, S. & S. Pouget (2013)
Clain-Chamosset-Yvrard, L. & T. Seegmuller (2013)
Hong, H. & D. Sraer (2013)
Basco, S. (2014)
Becker, R., S. Bosi, C.L. Van & T. Seegmuller (2013)
Ikeda, D. & T. Phan (2013)
Ikeda, D. (2013)
Liu, Q. & A. Skrzypacz (2014)
Chang, S-K. (2014)
Wigniolle, B. (2014)
Etienne, X.L., S.H. Irwin & P. Garcia (2014)
Martin, A. & J. Ventura (2014)
Takao, K. (2014)
Gali, J. & L. Gambetti (2014/15)
Rotermann, B. & B. Wilfling (2014)
Lugovskyy, V., D. Puzzello, S. Tucker & A. Williams (2014)
Luik, M-A. & D. Wesselbaum (2014)
Giglio, S., M. Maggiori & J.C. Stroebel (2014/16)
Martin, A. & J. Ventura (2014)
Shi, L. & R.M.H. Suen (2014)
Barlevy, G. (2014)
Glaeser, E.L. & C.G. Nathanson (2014)
López, M. (2014)
Parra-Polania, J.A. & C.O. Vargas (2014)
Cheng, I-H., S. Raina & W. Xiong (2014)
Kirchler, M., C. Bonn, J. Huber & M. Razen (2014)
Di Guilmi, C., X-Z. He & K. Li (2014)
Georg, C-P. (2014)
Jones, B. (2014)
Kim, M.H. & B. Kim (2014)
Bond, P. & Y. Leitner (2014)
Aymanns, C. & C-P. Georg (2014)
Bosi, S., C.L. Van & N-S. Pham (2014)
Imura, Y. (2014)
Hillebrand, M. & T. Kikuchi (2014)
Justiniano, A., G.E. Primiceri & A. Tambalotti (2015/18)
Hashimoto, K. & R. Im (2014)
Conlon, J.R. (2015)
Adämmer, P. & M.T. Bohl (2015)
Leone, V. & O. Ribeiro de Medeiros (2015)
Kaizoji, T., M. Leiss, A. Saichev & D. Sornette (2015)
Justiniano, A., G.E. Primiceri & A. Tambalotti (2015)
Cheah, E-T. & J. Fry (2015)
Brunnermeier, M.K & I. Schnabel (2015)
Clain-Chamosset-Yvrard, L. & T. Seegmuller (2015)
Mateju, J. (2015)
Dow, J. & J. Han (2015)
Claini-Chamosset-Yvrard, L. & T. Kamihigashi (2015)
Gelain , P., K.J. Lansing & G.J. Natvik (2015)
Wu, J. (2015)
Puy, D. (2015)
Martin, A. & J. Ventura (2015)
Ungerer, C.T. (2015)
Aoki, K. & K. Nikolov (2015)
Jorda, O., M. Schularick & A.M. Taylor (2015)
Baghestanian, S., V. Lugovskyy & D. Puzzello (2015)
De Grauwe, P. & C. Macchiarelli (2015)
Lagos, R. & S. Zhang (2015)
Sakuragawa, M. (2015)
Adrian, T., N. Boyarchenko & H.S. Shin (2015)
Nneji, O. (2015)
Phillips, P.C.B., S. Shi & J. Yu (2015)
Phillips, P.C.B., S. Shi & J. Yu (2015)
Choi, J.J., H. Kedar-Levy & S.S. Yoo (2015)
Raurich, X. & T. Seegmuller (2015/19)
Huh, K-S. (2015)
Branch, W.A. (2015)
Femminis, G. (2015)
Martin, A. & J. Ventura (2015)
Miao, J., P. Wang & J. Zhou (2015)
Jones, B. (2015)
Feng, Q. & G.L. Wu (2015)
Domeij, D. & T. Ellingsen (2015)
Hirano, T., M. Inaba & N. Yanagawa (2015)
Adam, K., J. Beutel, A. Marcet & S. Merkel (2015)
Jaworski, T. & E.O. Kimbrough (2016)
Larin, B. (2016)
Bayer, P., K. Mangum & J.W. Roberts (2016/21)
He, Z. & P. Kondor (2016)
Doblas-Madrid, A. & K.J. Lansing (2016)
Chen, S-W., C-S. Hsu & Z. Xie (2016)
Basco, S. (2016)
SURVEY PAPER
Engsted, T. (2016)
Zhang, Y-J. & T. Yao (2016)
Zhang, Y-J. & T. Yao (2016)
Bohren, J.A. (2016)
Benhabib, J., K. Liu & P. Wang (2016)
Broer, T. (2016)
Bosi, S. & N-S. Pham (2016)
Bosi, S., C.L. Van & N-S. Pham (2016/17)
Engsted, T., S. J. Hviid & T.Q. Pedersen (2016)
Burnside, C., M. Eichenbaum & S. Rebelo (2016)
Horie, T. & Y. Yamamoto (2016)
Tomura, H. (2016)
Asriyan, V., L. Fornaro, A. Martín & J. Ventura (2016/21)
Dieci, R. & F. Westerhoff (2016)
Teulings, C.N. (2016)
Cortés, D., J. Santamaría & J.F. Vargas (2016)
Vuillemey, G. & E. Wasmer (2016)
Chevallier, C.O. & S. El Joueidi (2016)
Barde, S. (2016)
Hashimoto, K. & R. Im (2016)
Wesselbaum, D. & M-A. Luik (2016)
Wang, P., J. Miao & F. Dong (2016/22)
Forni, M., L. Gambetti, M. Lippi & L. Sala (2017)
Hanson, A. & T. Phan (2017)
Zheng, M., H. Wang, C. Wang & S. Wang (2017)
Glaeser, E., W. Huang, Y. Ma & A. Shleifer (2017)
Huang, M. & H-H. Chiang (2017)
Kunieda, T., T. Matsuoka & A. Shibata (2017)
Greenwood, R., A. Shleifer & Y. You (2017/19)
Bazillier, R. & J. Hericourt (2017)
Guney, Y., V. Kallinterakis & G. Komba (2017)
Barbie, M. & M. Hillebrand (2017)
Monzón, I. (2017)
Zhang, M. & J. Zheng (2017)
Huang, M. (2017)
DeFusco, A.A., C.G. Nathanson & E. Zwick (2017)
Hommes, C. & D. in 't Veld (2017)
Hu, Y. & L. Oxley (2017)
Cui, W. & L. Kaas (2017)
Drehmann, M., M. Juselius & A. Korinek (2017)
Palazzo, F. & M. Zhang (2017)
Oberg, P.M. (2017)
Drechsel, T. & S. Tenreyro (2017/18)
Kaplan, G., K. Mitman & G.L. Violante (2017/20)
Balcombe, K. & I. Fraser (2017)
Shi, S. (2017)
Yung, C. (2017)
Caines, C. (2017)
McClure, J.E. & D.C. Thomas (2017)
Allen, F., G. Barlevy & D. Gale (2017)
McClure, J.E. & D.C. Thomas (2017)
Bohl, M.T., N. Branger & M. Trede (2017)
Bao, T., C. Hommes & T. Makarewicz (2017)
Gilchrist, S. (2017)
Blake, D., L. Sarno & G. Zinna (2017)
Holt, C.A., M. Porzio & M.Y. Song (2017)
Chung, Y.P. & S.T. Kim (2017)
Pavlidis, E.G., I. Paya & D.A. Peel (2017)
Escobari, D., S. Garcia & C. Mellado (2017)
Raurich, X. & T. Seegmuller (2017)
Kara, G. & C.M. Vojtech (2017)
Vasilenko, A. (2017)
Perez-Reyna, D. & X. Freixas (2017)
Wei, J. & T. Xu (2017)
Wang, G. & Y. Wang (2018)
Assaf, A. (2018)
Aytaç, B., G. Coqueret & C. Mandou (2018)
Hu, Y. & L. Oxley (2018)
Zhou, G. (2018)
Martin, A. & J. Ventura (2018)
Kirti, D. (2018)
Farjam, M. & O. Kirchkamp (2018)
Ali, S.N. (2018)
Lim, T. (2018)
Broer, T. (2018)
Amador-Torres, J.S., J.E. Gomez-Gonzalez & S. Sanin-Restrepo (2018)
Charles, K.K., E. Hurst & M.J. Notowidigdo (2018)
Sorger, G. (2018)
Biswas, S., A. Hanson & T. Phan (2018/20)
Daisuke, I. & T. Phan (2018/19)
Bosi, S., H-H. Thai; L.V. Cuong; C-T. Pham & N-S. Pham (2018)
Hillebrand, M., T. Kikuchi & M. Sakuragawa (2018)
Liu, F. & J.R. Conlon (2018)
Ali, S.N. (2018)
Corrado, L. & T. Schuler (2018)
Frijns, B. & T.D. Huynh (2018)
Abildgren, K., N.L. Hansen & A. Kuchler (2018)
Mitton, T., K. Vorkink & I. Wright (2018)
Domeij, D. & T. Ellingsen (2018)
Agliari, A., A. Naimzada & N. Pecora (2018)
Hansman, C., H. Hong, W. Jiang, Y-J. Liu & J-J. Meng (2018)
Barberis, N., R. Greenwood, L. Jin & A. Shleifer (2018)
Kruse, R., H. Kaufmann & C. Wegener (2018)
Michau, J-B., Y. Ono & M. Schlegl (2018)
Mehigan, C. (2018)
Bengui, J. & T. Phan (2018)
Miao, J. & P. Wang (2018)
Fry, J. (2018)
Illing, G., Y. Ono & M. Schlegl (2018)
Ascari, G., N. Pecora & A. Spelta (2018)
Hofstetter, M., D. Mejía, J.N. Rosas & M. Urrutia (2018)
Clain-Chamosset-Yvrard, L. & T. Seegmuller (2018/19)
Freixas, X. & D. Perez-Reyna (2018)
Asaoka, S. (2018)
Corrado, L. & T. Schuler (2018)
Gorbenko, A.S. (2019)
Ciccarone, G., F. Giuli & E. Marchetti (2019)
Jeewon, J. & K. Jangkoo (2019)
Lian, W. (2019)
Sotes-Paladino, J. & F. Zapatero (2019)
van der Hoog, S. & H. Dawid (2019)
Ben-David, I., P. Towbin & S. Weber (2019)
Wang, S., L. Chen & X. Xiong (2019)
Campbell, J.R., F. Ferroni, J.D.M. Fisher & L. Melosi (2019)
Brunnermeier, M.K., S.C. Rother & I. Schnabel (2019/20)
Fehr, D., F. Heinemann & A. Llorente-Saguer (2019)
Jacks, D.S. (2019)
Bolt, W., M. Demertzis, C. Diks, C. Hommes & M. van der Leij (2019)
Justiniano, A., G.E. Primiceri & A. Tambalotti (2019)
Garriga, R.M. & A. Peralta-Alva (2019)
Raurich, X. & T. Seegmuller (2019)
Zhi, T., Z. Li, Z. Jiang, L. Wei & D. Sornette (2019)
Jain, A. & C. Jain (2019)
Dokko, J.K., B.J. Keys & L. Relihan (2019)
Takao, K. (2019)
Bonchi, J. (2019)
Biljanovska, N., L. Gornicka & A. Vardoulakis (2019)
Bloise, G. & A. Citanna (2019)
Bao, T. & J. Zong (2019)
Jacobson, M. (2019)
Ho, W-H. & L. Zhu (2019)
Martins-da-Rocha, V.F., T. Phan & Y. Vailakis (2019)
Gao, Z., M. Sockin & W. Xiong (2019/20)
Pham, N-S., L.V. Cuong & S. Bosi (2019)
Martínez-García, E. & V. Grossman (2019)
Ebrahimy, E. (2019)
Ambrocio, G. (2020)
Cipriani, M., A. Fostel & D. Houser (2020)
Corgnet, B., R. Hernán-González & P. Kujal (2020)
Asako, Y., Y. Funaki, K. Ueda & N. Uto (2020)
Giamattei, M., J. Huber, J.G. Lambsdorff, A. Nicklisch & S. Palan (2020)
Bao, T., M. Hennequin, C. Hommes & D. Massaro (2020)
Feng, X., L. Lu & Y. Xiao (2020)
Krokida, S-I., P. Makrychoriti & S. Spyrou (2020)
Rosser, J.B. (2020)
Dong, F. & Z. Xu (2020)
Kollmann, R. (2020)
Duca, J.V. & D.C. Ling (2020)
Galí, J. (2020/21)
Westphal, R. & D. Sornette (2020)
Tang, Y., T. Zeng & S. Zhu (2020)
Negrelli, S. (2020)
Bonchi, J. (2020)
Gazzani, A. (2020)
Walther, A. (2020)
Carreno, J. (2020)
Kedar-Levy, H. (2020)
Kukacka, J. & L. Kristoufek (2020)
Fausch, J. & M. Sigonius (2020)
Clain-Chamosset-Yvrard, L., X. Raurich & T. Seegmuller (2020)
Arslan, Y., B. Guler & B. Kuruscu (2020)
Wang, P., J. Miao & F. Dong (2020)
Brunnermeier, M.K., S.A. Merkel & Y. Sannikov (2020)
Huerta-Sanchez, D., M. Jafarinejad, D. Kim & K.W. Soyeh (2020)
Weitzel, U., C. Huber, J. Huber, M. Kirchler, F. Lindner & J. Rose (2020)
Kendall, C. (2020)
Guerron-Quintana, P.A., T. Hirano & R. Jinnai (2020)
Galí, J., G. Giusti & C.N. Noussair (2020/21)
Bella, G. & P. Mattana (2020)
Zekkari, K.B. & T. Seegmuller (2020)
Hashimoto, K., R. Im, T. Kunieda & A. Shibata (2020)
Caballero, R.J. & A. Simsek (2020)
Hashimoto, K., R. Im & T. Kunieda (2020)
Caraiani, P., M-A. Luik & D. Wesselbaum (2020)
Gourieroux, C., J. Jasiak & A. Monfort (2020)
Enoksen, F.A., C.J. Landsnes, K. Lucivjanská & P. Molnár (2020)
Bernales, A., T. Verousis & N. Voukelatos (2020)
Karagedikli, O. & O. Rummel (2020)
Pavlidis, E.G. & K. Vasilopoulos (2020)
Saadi, V. (2020)
Steiger, S. & M. Pelster (2020)
Zheng, H. (2020)
Caines, C. (2020)
Motohashi, A. (2020)
Benhabib, J., X. Liu & P. Wang (2020)
Ciccarone, G., F. Giuli, E. Marchetti & M. Tancioni (2020)
Ben-Rephael, A., J. Choi & I. Goldstein (2021)
Zhao, Z., H. Wen & K. Li (2021)
Pearson, N.D., Z. Yang & Q. Zhang (2021)
Li, X., A. Subrahmanyam & X. Yang (2021)
Hwang, S., A. Rubesam & M. Salmon (2021)
Schellekens, M. & T. Yasseri (2021)
Foote, C.L., L. Loewenstein & P.S. Willen (2021)
Simsek, A. (2021)
Clain-Chamosset-Yvrard, L., X. Raurich & T. Seegmuller (2021)
Coppock, L.A., D.Q. Harper & C.A. Holt (2021)
Martin, C., N. Schmitt & F. Westerhoff (2021)
Martín, A., E. Moral-Benito & T. Schmitz (2021)
Hachem, K. & Z. Song (2021)
Fan, Y. (2021)
Hong, J., S. Moinas & S. Pouget (2021)
Broer, T. & A. Kero (2021)
Farboodi, M. & P. Kondor (2021)
Chan, J.C.C. & C. Santi (2021)
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Shi, S. & P.C.B. Phillips (2021)
Pénasse, J., L. Renneboog & J.A. Scheinkman (2021)
Griffin, J.M., S. Kruger & G. Maturana (2021)
Bordalo, P., N. Gennaioli, S.Y. Kwon & A. Shleifer (2021)
Lewellen, S. & E. Williams (2021)
Caferra, R., G. Tedeschi & A. Morone (2021)
Kocherlakota, N.R. (2021/23)
Kopányi-Peuker, A. & M. Weber (2021)
Cross, J.L., C. Hou & K. Trinh (2021)
Smith, L., P.N. Sørensen & J. Tian (2021)
Enders, Z. & H. Hakenes (2021)
Guerron-Quintana, P.A., T. Hirano & R. Jinnai (2021)
Bosi, S., T. Ha-Huy, C-T. Pham & N-S. Pham (2021)
Shukayev, M. & A. Ueberfeldt (2021)
Graczyk, A. & T. Phan (2021)
Wang, X., J.K. Yan, C. Yan & G. Gozgor (2021)
Yarovaya, L., R. Matkovskyy & A. Jalan (2021)
Adams, J.J. (2021)
Zhao, S. & D. Sornette (2021)
Jiang, S., J. Miao & Y. Zhang (2022)
Nguyen, Q.N. & G.A. Waters (2022)
Mian, A. & A. Sufi (2022)
Bhutta, N. & B.J. Keys (2022)
Zhou, X. (2022)
Bonchi, J. & S. Nisticò (2022)
An, L., D. Lou & D. Shi (2022)
André, C., P. Caraiani, A.C. Calin & R. Gupta (2022)
Liao, J., C. Peng & N. Zhu (2022)
Haddad, V., P. Ho & E. Loualiche (2022)
Drechsler, I., A. Savov & P. Schnabl (2022)
Allen, F., G. Barlevy & D. Gale (2022)
Huang, M. (2022)
Kamihigashi, T. & R. Im (2022)
Dong, F. & Z. Xu (2022)
Malevergne, Y., D. Sornette & R. Wei (2021)
Tsai, I-C. & C-C. Lin (2022)
Wang, X., M.H. Kim & S. Suardi (2022)
Caballero, R.J. & A. Simsek (2022)
Ito, K., K. Shibano & G. Mogi (2022)
Martin, I.W.R. & D. Papadimitriou (2022)
Dong, F., Y. Jia & S. Wang (2022)
Clain-Chamosset-Yvrard, L., X. Raurich; Thomas Seegmuller (2022)
Liu, Y., D. Yang & Y. Zhao (2022)
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Hu, Y. (2022)
Barlevy, G. (2022)
Hirota, S., J. Huber, T. Stöckl & S. Sunder (2022)
Xavier, I. (2022/23)
Rafiq, S. (2022)
Adams, A. & M.F. Ibert (2022)
Li, Y., W. Zhang, A. Urquhart & P. Wang (2022)
Mohamad, A. & S. Stavroyiannis (2022)
Apergis, N., A.F. Aysan & Y. Bakkar (2022)
Chmura, T., H. Le & K. Nguyen (2022)
Davies, S.W. (2022)
Perotti, E. & M. Rola-Janicka (2022)
Tang, H. & D. Zhang (2022)
Plantin, G. (2022/23)
Chevallier, C.O. & S. El Joueidi (2022)
Luo, Y. & D. Mei (2023)
Hirano, T., R. Jinnai & A.A. Toda (2023)
Alter, A., E.M. Mahoney & C. Badarinza (2023)
Cevik, S. & S. Naik (2022/24)
Hirano, T., R. Jinnai & A.A. Toda (2023)
Barbon, A. & A. Ranaldo (2023)
Yu, L. & Y. Li (2023)
Caravello, T.E., Z. Psaradakis & M. Sola (2023)
Herwartz, H. & S. Wang (2023)
Clain-Chamosset-Yvrard, L., X. Raurich & T. Seegmuller (2023)
Liu, Y., P.C.B. Phillips & J. Yu (2023)
Hori, T. & R. Im (2023)
Schaal, E. & M. Taschereau-Dumouchel (2023)
Ali, S., I. Badshah & R. Demirer (2023)
Liu, F., J.S. White & J.R. Conlon (2023)
Hoyer, K., S. Zeisberger, S.M. Breugelmans & M. Zeelenberg (2023)
Hirano, T. & A.A. Toda (2023)
Urban, J. (2023)
Evgenidis, A. & A. Malliaris (2023)
Allen, F., G. Barlevy & D. Gale (2023)
Kieren, P., J. Müller-Dethard & M. Weber (2023)
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Bonchi, J. & S. Nisticò (2023)
Feng, H. (2023)
Gupta, R., J. Ma, K. Theodoridis & M.E. Wohar (2023)
Ma, C. & S. Zhang (2024)
Diba, B. & O. Loisel (2024)
Awaya, Y., K. Iwasaki & M. Watanabe (2024)
Behzadi, S., M. Bayanati & H. Nozari (2024)
Ivashina, V., S. Kalemli-Özcan, L. Laeven & K. Müller (2024)
Capital Flow Reversals & Controls
Schukhnecht, L. (1998)
Caballero, R.J. and A. Krishnamurthy (2001)
Razin, A. & E. Sadka (2001)
Eicher, T.S., U. Walz & S. Turnovsky (2001)
Goldfajn, I. (2001)
Voth, H.J. (2001)
Mendoza, E.G. (2001)
Reinhart, C.M. & R.T. Smith (2001)
Bai, C.E. & S.J. Wei (2001)
Edison, H.J. & F.E. Warnock (2001)
Desai, M.A. & J.R. Hines Jr. (2001)
Glick, R. & M. Hutchison (2001/2005)
Kaminsky, G. & S. Schmukler (2001)
Caballero, R.J. & A. Krishnamurthy (2001)
Cobham, A. & A. Wood (2001)
Frenkel, M., C. Nickel, G. Schmidt & G. Stadtmann (2001)
Razin, A., E. Sadka & C.W. Yuen (2001)
Cobham, A. (2001)
FitzGerald, V. & A. Cobham (2002)
Mody, A. & M.P. Taylor (2002)
Hutchison, M. & I. Noy (2002/05)
Chanda, A. (2002)
Botman, D. & C.G.H. Diks (2002)
Bloch, C. (2002)
Neeman, Z. & G.O. Orosel (2002)
Eichengreen, B. & D. Leblang (2002)
Calvo, C.A. (2003)
Caballero, R.J. & S. Panageas (2003)
Caballero, R.J. & A. Krishnamurthy (2003)
Forbes, K. (2003/07)
Penalver, A. (2003)
Edison, H.J. & F.E. Warnock (2003)
Subramanian, C. & J. Park (2003)
Dreher, A. & L.H.R. Siemers (2003)
FitzGerald, V. & D. Krolzig (2003)
Cordella, T. (2003)
Forbes, K.J. (2004)
Desai, M.A., C.F. Foley & J.R. Hines Jr. (2004)
Morrison, A.D. & L. Whit (2004)
Calvo, G.A., A. Izquierdo & L.F. Mejia (2004)
Morrison, A.D. & L. Whit (2004)
Caballero, R. & A. Krishnamurthy (2004)
Cohen, D. & R. Portes (2004)
De Grauwe, P. & M. Grimaldi (2004)
Razin, A. & Y. Rubinstein (2004)
Miniane, J. (2004)
Fontenla, M. (2004)
Chu, M-L. (2004)
von Hagen, J. & J. Zhou (2004)
Alfaro, L. & F. Kanczuk (2004)
Frankel, J.A. & S-J. Wei (2004)
Mendoza, E.G. & K.A. Smith (2004/06)
Frankel, J.A. & E.A. Cavallo (2004/08)
Razin, A. & Y. Rubinstein (2005)
Calvo, G.A. & E. Talvi (2005)
Chari, V.V., P.J. Kehoe & E.R. McGrattan (2005)
Edwards, S. (2005)
Durdu, C.B. & E.G. Mendoza (2005/06)
Caballero, R. & S. Panageas (2005)
Calvo, G.A. (2005)
Chinn, M.D. & H. Ito (2005)
Forbes, K.J. (2005)
Edwards, S. & R. Rigobon (2005/09)
De Gregorio, J. & K. Cowan (2005)
Calvo, G.A., A. Izquierdo & R. Loo-Kung (2005)
Cerra, V., R. Meenakshi & S.C. Saxena (2005)
Magud, N. & C.M. Reinhart (2005)
Mendoza, E.G. (2006)
Caballero, R.J. & S. Panageas (2006)
von Hagen, J. & J. Zhou (2006)
Eichengreen, B.J., P. Gupta & A. Mody (2006)
Catão, L. (2006)
de M. Carvalho, B.S. & M.G.P. Garcia (2006)
Mendoza, E.G. (2006)
Becker, T.I. & P. Mauro (2006)
Bordo, M.D. (2006)
Levchenko, A.A. & P. Mauro (2006)
Neumann, R.M. (2006)
Deb, S. (2006)
Edison, H.J. & F.E. Warnock (2006)
Edwards, S. (2007)
Caballero, R.J. & A. Krishnamurthy (2007)
Wei, S-J. & Z. Zhang (2007)
David, A.C. (2007)
Cooke, D. (2007)
Elo, K.Z. (2007)
Durdu, C.B., E.G. Mendoza & M.E. Terrones (2007/09)
Davies, V.A.B. (2007)
Ma, G. & R.N. McCauley (2007)
Bordo, M.D., A.F. Cavallo & C.M. Meissner (2007/09)
Mertens, K. (2007)
Mecagni, M., R. Atoyan, D. Hofman & D. Tzanninis (2007)
Straetmans, S., R. Versteeg & C.C. Wolff (2008/13)
Dell'Ariccia, G., D. Igan & L. Laeven (2008)
Calvo, G.A., A. Izquierdo & L-F. Meja (2008)
Broda, C. & D.E. Weinstein (2008)
Kim, J.I. (2008)
Kaminsky, G.L. (2008)
Beck, R. & E. Rahbari (2008/11)
Kehoe, T.J. & K.J. Ruhl (2008/09)
Aysun, U. & A. Honig (2008/11)
Mendoza, E.G. (2008/10)
Pasricha, G.K. (2008)
Joyce, J.P. & M. Nabar (2008/09)
Wang, W-Y. & P. Hernandez-Verme (2009)
Mecagni, M., R. Atoyan & D. Hofman (2009)
Gudmundsson, G.S. & G. Zoega (2009/16)
Chakraborty, S. (2009)
Braggion, F., L.J. Christiano & J. Roldos (2009)
Tong, H. & S-J. Wei (2009)
Caner, M., F. Koehler-Geib & G.A. Vincelette (2009)
Diamond, D.W. & R.G. Rajan (2009)
Caballero, R.J. & A. Simsek (2009)
Binici, M., M. Hutchison & M. SchindlerWhen Do Sudden Stops Really Hurt?
Caner, M., F. Koehler-Geib & G.A. Vincelette (2009)
Sula, O. & T.D. Willett (2009)
Coelho, B. & K. Gallagher (2010)
Shleifer, A. & R.W. Vishny (2010/11)
Kitano, S. (2010/11)
Mohan, R. & M. Kapur (2010)
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Moore, W. (2010/12)
Jeanne, O. & A. Korinek (2010)
Montecino, J.A. & J.A. Cordero (2010)
Sá, F. & F. Viani (2010)
Glick, R. & M. Hutchison (2010)
Gulcin Ozkan, F. & D.F. Unsal (2010)
Dagher, J. (2010)
Hutchison, M.M., I. Noy & L. Wang (2010)
Tong, H. & S-J. Wei (2010)
Rincón, H. & J. Toro (2010)
Piazza, R. (2010/14)
Magud, N.E., C.M. Reinhart & K.S. Rogoff (2011)
Razo-Garcia, R. (2011)
Calderon, C. & M. Kubota (2011/12)
Cowan, K. & C. Raddatz (2011/13)
Ang, J. & N. Mauck (2011)
Rothenberg, A.D. & F.E. Warnock (2011)
Magud, N., C. Reinhart & K. Rogoff (2011)
Qureshi, M.S., J.D. Ostry, A.R. Ghosh & M. Chamon (2011)
Forbes, K.J. & F.E. Warnock (2011)
Allard, J. & R. Blavy (2011)
Daniëls, T.R., H. Jager & F. Klaassen (2011)
Concha, A., A.J. Galindo & D. Vasquez (2011)
Baba, C. & A. Kokenyne (2011)
Gallego, F.A. & J.A. Tessada (2011)
Fratzscher, M. (2011)
Costinot, A., G. Lorenzoni & I. Werning (2011/14)
Korinek, A. (2011)
Furceri, D., S. Guichard & E. Rusticelli (2011/12)
Lupo Pasini, F. (2011)
Magud, N.E., C. Reinhart & E. Vesperoni (2012)
Chen, J. (2012)
Bacchetta, P., K. Benhima & Y. Kalantzis (2012)
Arifovic, J. & M.K. Maschek (2012)
Sy, M. (2012)
Bacchetta, P., K. Benhima & Y. Kalantzis (2012)
Forbes, K., M. Fratzscher & R. Straub (2012/16)
Algozhina, A. (2012)
Calvo, G.A., A. Izquierdo & R. Loo-Kung (2012)
Farhi, E. & I. Werning (2012)
de Mello, L., P.C. Padoan & L. Rousová (2012)
Calvo, G.A. (2012)
Agosin, M.R. & F. Huaita (2012)
Young, E.R. (2012)
Abarca, G., C. Ramírez & J.G. Rangel (2012)
Klein, M.W. (2012)
Bayoumi, T. & C. Saborowski (2012)
Vithessonthi, C. & J. Tongurai (2012)
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Aizenman, J. & G.K. Pasricha (2013)
Hur, S. & I.O. Kondo (2013/16)
Devereux, M.B. & J. Yetman (2013)
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Giudice Rodriguez, M. & T. Wu (2013)
Esaka, T. & S. Takagi (2013)
Gros, D. & C. Alcidi (2013)
Chang, C-Y. (2013)
Accominotti, O. & B. Eichengreen (2013)
Fernandez, A., A. Rebucci & M. Uribe (2013)
Bachmann, A. & S. Leist (2013)
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Tavella, P., M. Pedemonte, A. Powell & E.A. Cavallo (2014/15)
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Zhao, Y., J. de Haan, B. Scholtens & H. Yang (2014)
Eichengreen, B. & A. Rose (2014)
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Rothert, J. (2014)
Akinci, O. & R. Chahrour (2014)
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Pasricha, G., M. Falagiarda, M. Bijsterbosch & J. Aizenman (2015)
Forbes, K., M. Fratzscher & R. Straub (2015)
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Agosin, M.R., J. Díaz-Maureira & M. Karnani (2016/19)
Rousakis, M. & R. Priftis (2017)
Davis, J.S. & I. Presno (2017)
Giordani, P., M. Ruta, H. Weisfeld & L. Zhu (2014/17)
Garcia-Barragan, F. & G. Liu (2017)
Trabelsi, M. & M. Cherif (2017)
Choi, W.J. & A.M. Taylor (2017)
Shousha, S. (2017)
Andreasen, E., M. Schindler & P.A. Valenzuela (2017)
Adedeji, O. & R.K. Abrams (2017)
Kitano, S. & K. Takaku (2017/20)
Cantú, C. (2017/19)
de Crescenzio, A. & M. Golin (2017)
Barnett, W. & J. Hu (2017)
Pasricha, G. (2017/22)
Garbers, C. & G. Liu (2017)
Patir, A. (2017)
Ben Zeev, N. (2017)
Berentsen, A. & B. Müller (2017)
Raza, H., G. Zoega & S. Kinsella (2017)
Landi, V.N. (2017)
Hurd, T.R. (2017)
Kirti, D. & V. Narasiman (2017)
Mendoza, E.G. & E.I. Rojas (2018)
Acharya, V.V. & A. Krishnamurthy (2018)
Ahnert, T., K. Forbes, C. Friedrich & D. Reinhardt (2018)
Liu, S. (2018/22)
Gupta, P. & O. Masetti (2018)
Li, J. (2018)
Coulibaly, L. (2018/23)
Monnet, E. (2018)
Gkillas, K. & F. Longin (2018)
Prasad, N. (2018)
Landi, V.N. (2018/20)
Johnson, C. (2018/21)
Cerutti, E.M. & H. Zhou (2018)
Keller, L. (2018)
Brunnermeier, M.K. & L. Huang (2018)
Eisenbach, T.M. & G. Phelan (2018)
Kurlat, P. (2018)
Li, S., J. de Haan & B. Scholtens (2019)
Kitano, S. & K. Takaku (2019)
Davis, J.S. & M.B. Devereux (2019)
Georgiadis, G. & F. Zhu (2019)
Devereux, M.B. & C. Yu (2019)
Benguria, F., F. Saffie & H. Matsumoto (2019)
Meier, J-M. & H. Servaes (2019)
Lutz, F. & L. Zessner-Spitzenberg (2019)
Nishihara, M. & T. Shibata (2019)
David, A. & C.E. Gonçalves (2019/21)
Andreasen, E., S. Bauducco & E. Dardati (2019)
Nanda, V., W. Wu & X. Zhou (2019)
Seoane, H.D. & E. Yurdagul (2019)
Erten, B., A. Korinek & J.A. Ocampo (2019/21)
Rebucci, A. & C. Ma (2019)
Choi, J.H. (2019)
Lai, K., T. Wang & D. Xu (2019)
Ndubuisi, G. (2019)
Fu, D. & L. Cao (2019)
Patnaik, I. & M. Pundit (2019)
Baele, L., G. Bekaert, K. Inghelbrecht & M. Wei (2020)
Bandaogo, M.S & Y-C. Chen (2020)
Chernenko, S. & A. Sunderam (2020)
Kitano, S. & K. Takaku (2020)
Calimani, S., G. Halaj & D. Zochowski (2020/22)
Forbes, K.J. & F.E. Warnock (2020)
Bianchi, J. & E.G. Mendoza (2020)
Acosta-Henao, M., L. Alfaro & A. Fernández (2020)
Fan, H., Q. Gou, Y. Peng & W. Xie (2020)
Liu, Z., M.M. Spiegel & J. Zhang (2020)
Bichuch, M. & Z. Feinstein (2020)
Bacchetta, P., R. Cordonier & O. Merrouche (2020)
Nie, O. (2020)
de Ferra, S., K. Mitman & F. Romei (2020)
Fagan, G. & P.D. McNelis (2020)
Bergant, K., F. Grigoli, N-J.H. Hansen & D. Sandri (2020)
Emter, L. (2020)
Gori, F., E. Lepers & C. Mehigan (2020)
Goldbach, S. & V. Nitsch (2020/23)
Lama, R. & J.P. Medina (2020)
Albonico, A. & P. Tirelli (2020)
Mirza, H., D. Moccero, S. Palligkinis & C. Pancaro (2020)
Ali, M. & A. Iness (2020)
Ahmed, R. (2020)
Davis, J.S., M.B. Devereux & C. Yu (2020)
Bindseil, U. & E. Lanari (2020)
Ohanian, L.E., P. Restrepo-Echavarria, D. Van Patten & M.L.J. Wright (2020)
Binici, M. & M. Das (2020)
Wang, Z.J., H. Zhang, Xinde Zhang (2020)
Vazquez, F. (2020)
Farmer, J.D., A. Kleinnijenhuis, P. Nahai-Williamson & T. Wetzer (2020)
Kilenthong, W.T. & R. M. Townsend (2021)
Hu, J. & H. Yuan (2021)
Kuong, J.C-F. (2021)
Fabiani, A., M. López, J-L. Peydró & P.E. Soto (2021)
El-Shagi, M. & S.J. Yamarik (2021)
Wong, A. (2021)
McDowall, R.A. (2021)
Grenville, S. (2021)
Wang, J. & J. Wu (2021)
Merrill, C.B., T.D. Nadauld, R.M. Stulz & S.M. Sherlun (2021)
Kurlat, P. (2021)
Chi, C-C., S. Schmitt-Grohé & M. Uribe (2021)
Bianchi, J. & G. Lorenzoni (2021)
Yepez, J. (2021)
Lovchikova, M. & J. Matschke (2021)
Cezar, R. & E. Monnet (2021/23)
Breedon, F., T.G. Pétursson & P. Vitale (2021/23)
Gomez-Gonzalez, J.E., O. Valencia & G. Sánchez (2021)
Davis, J.S. & M.B. Devereux (2022)
Das, M., G. Gopinath & S. Kalemli-Özcan (2022)
Das, M., G. Gopinath & S. Kalemli-Özcan (2022)
Lin, Z., J. Chen & X. Qian (2022)
Alnasaa, M., N. Gueorguiev, J. Honda, E. Imamoglu, P. Mauro, K. Primus & D.L. Rozhkov (2022)
Fabiani, A., M.L. Piñeros; J-L. Peydró & P.E. Soto (2022)
Honkanen, P. & D. Schmidt (2022)
Chibane, M., A. Gabriel & G.A. Giménez Roche (2022)
Biljanovska, N. & A. Vardoulakis (2022)
Zhou, Y. (2022)
Sanyal, A. (2022)
Tunio, M.W. (2022)
Altinoglu, L. & J-W. Chang (2022)
Elkamhi, R. & Y. Nozawa (2022)
Sarmiento, M. (2022)
Andreasen, E., S. Bauducco & E. Dardati (2022)
Bengui, J. & L. Coulibaly (2022)
MacDonald, M. (2023)
Bhargava, A., R. Bouis, A. Kokenyne, M. Perez-Archila, U. Rawat & R. Sahay (2023)
Lutz, F. (2023)
Bhargava, A., R. Bouis, A. Kokenyne, M. Perez-Archila, U. Rawat & R. Sahay (2023)
Arquié, A. (2023)
Feinstein, Z. & H. G. Halaj (2023)
Zhou, Y. & S. Kitano (2023)
Lloyd, S.P. & E.A. Marin (2023)
Kónya, I. & M. Váry (2023)
Dekker, L., L. Molestina Vivar, M. Wedow & C. Weistroffer (2023)
Kalsi, H., N. Vause & N. Wegner (2023)
Arakelyan, M., A. Gersl & M. Schindler (2023)
Ohanian, L.E., P. Restrepo-Echavarria, D. Van Patten & M.L.J. Wright (2023)
Lloyd, S.P. & E.A. Marin (2023)
Bergin, P.R., W.J. Choi & J.H. Pyun (2023)
Liu, R., L. Sheng & J. Wang (2023)
Zehri, C. & Z. Madjd-Sadjadi (2023)
Davis, J.S. & E. Van Wincoop (2023)
Pang, R.K-K. & L.A.M. Veraart (2023)
Roberts, D., A. Sarkar & O. Shachar (2023)
Papadia, A. & C.A. Schioppa (2023)
Yang, Z. & Y. You (2023)
Baldursson, F.M., R. Portes &l; E.E. Thorlaksson (2023)
Boermans, M.A. & B. van der Kroft (2024)
Baskaya, Y.S., I. Shim & P. Turner (2024)
Dekker, L., L.M. Vivar, M. Wedow & C. Weistroffer (2024)
Villalvazo, S. (2024)
Lovchikova, M. & J. Matschke (2024)
Siranova, M., M.W. Tiruneh & B. Konig (2024)
Contagion
Gerlach,. S. & F. Smets (1995)
Glick, R. & A.K. Rose (1998)
Kaminsky, G. & C. Reinhart (1999)
Fratzscher, M. (2000)
Rigobon, R. (2001)
Forbes, K.J. (2001)
Hernandez, L.F. & Valdes, R.O. (2001)
Kawai, M., R. Newfarmer & S. Schmukler (2001)
Corsetti, G., M. Pericoli & M. Sbracia (2001)
Edwards, S. & R. Susmel (2001)
Kumar, M.S. & A. Persaud (2001)
Hartmann, P., S. Straetmans & C.G. de Vries (2001/2004)
Clark, P.B. & H. Huang (2001)
Huang, H. & C. Xu (2001)
Neal, L. & M.D. Weidenmier (2001)
Hernandez, L.F., P. Mellado & R.O. Valdes (2001)
Dungey, M. & D. Zhumabekova (2002)
Dungey, M., R. Fry, B. Gonzalez-Hermosillo & V. Martin (2002/06)
Chan-Lau, J., D.J. Mathieson & J.Y. Yao (2002)
Manz, M. (2002/10)
Kleimeier, S. & H. Sander (2002)
Corsetti, G., M. Pericoli & M. Sbracia (2002/05)
Berger, W. & H. Wagner (2002)
Ito, T. & Y. Hashimoto (2002)
Fiess, N.M. (2003)
Kaminsky, G.L. & C. Reinhart (2003)
Bekaert, G. & C.R. Harvey (2003)
Taketa, K. (2003)
Taketa, K. (2003)
Bayoumi, T.A., G. Fazio, M.S. Kumar & R. Macdonald (2003/07)
Walti, S. (2003)
Dungey, M., R. Fry, B. Gonzalez-Hermosillo & V. Martin (2003)
Arestis, P., G.M. Caporale & A. Cipollini (2003)
Gravelle, T., M. Kichian & J. Morley (2003/06)
Lee, I.H., A. Szeidl & A. Valentinyi (2003)
Melvin, M. & B.P. Melvin (2003)
Walti, S. (2003)
Ciccarelli, M. & A. Rebucci (2003)
Kaminsky, G.L., C. Reinhart & C.A. Vegh (2003)
Herz, B. & H. Tong (2004)
Pesaran, H. & A. Pick (2004/07)
Econometric issues in the analysis of contagion
SURVEY PAPER
Belke, A. & R. Setzer (2004)
Hashimoto, Y. & T. Ito (2004)
Forbes, K.J. (2004)
Dungey, M., R. Fry, B. Gonzalez-Hermosillo & V. Martin (2004)
de Vries, C.G., P. Hartmann & S. Straetmans (2004)
Hwang, S. & M. Salmon (2004)
de los Rios, A.D. (2004)
Chakravorti, S. & S. Lall (2004)
Fernandez-Izquierdo, A. & J.A. Lafuente (2004)
Goenka, A. & M. Boschi (2004)
Broner, F.A., R.G. Gelos & C. Reinhart (2004/06)
Ellison, M., L. Graham & J. Vilmunen (2005/06)
Pavlova, A. & R. Rigobon (2005)
Fujii, E. (2005)
Ilyina, A. (2005)
Candelon, B., A. Hecq & W.F.C. Verschoor (2005)
Didier, T., P. Mauro & S.L. Schmukler (2006)
Allen, F. & E. Carletti (2006)
Boissay, F. (2005)
Gieseckea, K. & S. Weber (2006)
Keister, T. (2006/09)
Boyson, N.M., C.W. Stahel & R.M. Stultz (2006)
Gropp, R., M.L. Duca & J. Versala (2006)
Gebka, B. & D. Serwa (2006)
Marais, E. & S. Bates (2006)
Aliprantis, C.D., G. Camera & D. Puzzello (2007)
Jokipii, T. & B. Lucey (2007)
Vaugirard, V. (2007)
Chan-Lau, J.A., S. Mitra & L.L. Ong (2007)
Pentecote, J-S. (2007)
Hon, M.T., J.K. Strauss & S-K. Yong (2007)
Egloff, D., M. Leippold & P. Vanini (2007)
Massacci, D. (2007)
Fazio, G. (2007)
van den Berg, J., B. Candelon & J-P. Urbain (2008)
Didier, T., P. Mauro & S.L. Schmukler (2008)
Hasman, A. & M. Samartín (2008)
Beirne, J., G. Maria Caporale, M. Schulze-Ghattas & N. Spagnolo (2008/13)
Eichengreen, B., A. Mody, M. Nedeljkovic & L. Sarno (2009/12)
Frank, N. & H. Hesse (2009)
Psalida, L.E. & T. Sun (2009)
Chandar, N., D.K. Patro & A. Yezegel (2009)
Weber, E. (2009)
Balakrishnan, R., S. Danninger, S. Elekdag, & I. Tytell (2009)
Kannan, P. & F. Köhler-Geib (2009)
Markwat, T., E. Kole & D. van Dijk (2009)
Aït-Sahalia, T., J.R. Andritzky, A. Jobst, S.B. Nowak & N.T. Tamirisa (2009)
Jotikasthira, C., C.T. Lundblad & T. Ramadorai (2009)
Bunda, I., A.J. Hamann & S. Lall (2010)
Mendoza, E.G. & V. Quadrini (2010)
Dungey, M., G. Milunovich & S. Thorp (2010)
Ahlgren, N. & J. Antell (2010)
Coudert, V. & M. Gex (2010)
Korinek, A., A. Roitman & C.A. Vegh (2010)
Yiu, M.S., A.W-Y. Ho & L. Jin (2010)
Baele, L. & K. Inghelbrecht (2010)
Chiang, T.C> & D. Zheng (2010)
Dasgupta, A, R. Leon-Gonzalez & A. Shortland (2010)
Cipollini, A. & I. Lo Cascio (2010)
Herrmann, S. & D. Mihaljek (2010)
Oura, H., P.M'B.P. N'Diaye, Q. Chen, D.F. Gray & N.T. Tamirisa (2010)
Devereux, M.B. & J. Yetman (2010)
Singh, M. & K. Youssef (2010)
Mandilaras, A. & G. Bird (2010)
Nguyen, H. (2010)
Tressel, T. (2010)
Aloui, R., M.S. Ben Aïssa & D.K. Nguyen (2010)
Khallouli, W. & R. Sandretto (2010)
Chudik, A. & M. Fratzscher (2010/11)
Cipriani, M. & A. Guarino (2010/14)
Kenourgios, D., A. Samitas & N. Paltalidis (2010)
Asgharian, H. & M. Nossman (2011)
Gu, C. (2011)
Lestano, J., D. Jan & M. Dungey (2011)
Kollmann, R. & F. Malherbe (2011)
de Haas, R. & N. van Horen (2011)
Arezki, R., B. Candelon & A.N. Sy (2011)
Herrmann, S. & D. Mihaljek (2011)
Kim, B-H. & H. Kim (2011)
Eickmeier, S., W. Lemke & M. Marcellino (2011)
Gelos, G. (2011)
Asongu, S.A. (2011)
Caceres, C. & D.F. Unsal (2011)
Bekaert, G., M. Ehrmann, M. Fratzscher & A. Mehl (2011)
Berger, D. & H.J. Turtle (2011)
Bayoumi, T. & F. Vitek (2011)
Dasgupta, A., R. Leon-Gonzalez & A. Shortland (2011)
Claessens, S., H. Tong & S-J. Wei (2011)
Raddatz, C. & S.L. Schmukler (2011)
Cetorelli, N. & L.S. Goldberg (2011)
Errico, L. & A. Massara (2011)
Richardson, G. & P. Van Horn (2011)
Baldacci, E., S. Dell'Erba & T. Poghosyan (2011)
Allen, W.A. & R. Moessner (2011)
Chiang, M-H. & L-M. Wang (2011)
Cartea, A. & D. Karyampas (2011)
Gai, P., A. Haldane & S. Kapadia (2011)
Samarakoon, L.P. (2011)
Wong, A.Y-T. & T.P.W. Fong (2011)
Polson, N.G. & J.G. Scott (2011)
Vayanos, D. & D. Gromb (2011)
Hatemi-J, A. & E. Roca (2011)
Boschi, M. & A. Goenka (2011)
Brutti, F. & P. Sauré (2011/15)
Eickmeier, S. & T. Ng (2011)
Hertzel, M.G. & M.S. Officer (2012)
Chudik, A. & M. Fratzscher (2012)
Haidar, J.I. (2012)
Hau, H. & S. Lai (2012/17)
van Wincoop, E. (2011)
Fecht, F., H.P. Grüner & P. Hartmann (2012)
Grammatikos, T. & R. Vermeulen (2011/12)
Morris, S. & H.S. Shin (2012)
Mondria, J. & C. Quintana-Domeque (2012)
Fong, T.P.W. & A.Y-T. Wong (2012)
Brière, M., A. Chapelle & A. Szafarz (2012)
Baker, M., J. Wurgler & Y. Yuan (2012)
Giansante, S., C. Chiarella, S. Sordi & A. Vercelli (2012)
Corradi, V., W. Distaso & M. Fernandes (2012)
Arghyrou, M.G. & A. Kontonikas (2012)
Celik, S. (2012)
Jiang, G.J., E. Konstantinidi & G. Skiadopoulos (2012)
Cubillas, E., A.R. Fonseca & F. González (2012)
Forbes, K. (2012)
Beirne, J. & M. Fratzscher (2012/13)
Ozkan, F.G. & D.F. Unsal (2012)
SURVEY PAPER
Hasman, A. (2012)
Baur, D.G. (2012)
Gebka, B. & M.E. Wohar (2012)
Balcilar, M., R. Demirer & S. Hammoudeh (2012)
Ciccarelli, M., E. Ortega & M.T. Valderrama (2012)
Markose, S. (2013)
Bayoumi, T. & T. Bui (2013)
Beirne, J. & J. Gieck (2013/14)
Konermann, P., C. Meinerding & O. Sedova (2013)
Caporin, M., L. Pelizzon, F. Ravazzolo & R. Rigobon (2013)
Oh, F.D. (2013)
Bhar, R. & B. Nikolova (2013)
Hubrich, K., A. D'Agostino, M. Cervená, M. Ciccarelli, P. Guarda, M. Haavio, P. Jeanfils, C. Mendicino, E. Ortega, M.T. Valderrama & M.V. Endrész (2013)
Tian, S., Y. Yang & G. Zhang (2013)
Jeon, B.N., M.P. Olivero & J. Wu (2013)
Ahrend, R. & A. Goujard (2013)
Ladley, D. (2013)
Georg, C-P. (2013)
Li, M., F. Milne & J. Qiu (2013)
Marques,L.B., G. Gelos & N. Melgar (2013/18)
Mendoza, E.G. & K.A. Smith (2013)
Klein, A.C. (2013)
Garleanu, N., S. Panageas & J. Yu (2013/15)
De Bruyckere, V., M. Gerhardt, G. Schepens & R.V. Vennet (2013)
Mieraua, J.O. & M. Mink (2013)
Cipriani, M., G. Gardenal & A. Guarino (2013)
Giordano, R., M. Pericoli & P. Tommasino (2013)
Philippas, D. & C. Siriopoulos (2013)
Lee, H-H., C-Y. Park & H-S. Byun (2013)
Branger, N., H. Kraft & C. Meinerding (2013)
Morrison, A.D. & L. White (2013)
Branger, N., H. Kraft & C. Meinerding (2013)
Niepmann, F. & T. Schmidt-Eisenlohr (2013)
Jaramillo, L. & A. Weber (2013)
Jung, R. & R. Maderitsch (2014)
Pragidis, I. & D. Chionis (2014)
Glasserman, P. & H.P. Young (2014)
Boyer, T. & N. Jonard (2014)
Galariotis, E.C., W. Rong & S.I. Spyrou (2014)
Lee, Y-H., A.L. Tucker, D.K. Wang & H-T. Pao (2014)
Jinjarak, Y. & H. Zheng (2014)
Chiu, W-C., J.I. Peña & C-W. Wang (2014)
Kobayashi, T. (2014)
Li, F. & H. Zhu (2014)
Akiyama, E., N. Hanaki & R. Ishikawa (2014)
Fry-McKibbin, R., V.L. Martin & C. Tang (2014)
Kohonen, A. (2014)
Alvarez, F. & G. Barlevy (2014/21)
Fry-McKibbin, R. & C.Y-L. Hsiao (2014)
Claeys, P. & B. Vašícek (2014)
Kalotychou, E., E. Remolona & E. Wu (2014)
Bussière, M., B. Camara, F-D. Castellani, V. Potier & J. Schmidt (2014)
Ma, C. & M. Masih (2014)
Gouriéroux, C., A. Monfort & J.P. Renne (2014)
Schmitt, N. & F. Westerhoff (2014)
Caccioli, F., M. Shrestha, C. Moore & J.D. Farmer (2014)
Mobarek, A., S. Mollah & K. Keasey (2014)
Frey, S., P. Herbst & A. Walter (2014)
Chevapatrakul, T. & K-H. Tee (2014)
Devereux, M.B. & C. Yu (2014/20)
Elliott, M., B. Golub & M.O. Jackson (2014)
Stanga, I.M. (2014)
Glover, B. & S. Richards-Shubik (2014)
Luck, S. & P. Schempp (2014)
Chan, S. & S. van Wijnbergen (2014)
Gabbi, G., A. Kalbaska & A. Vercelli (2014)
Chakravarty, S., M.A. Fonseca & T.R. Kaplan (2014)
Maeno, Y., K. Nishiguchi, S. Morinaga & H. Matsushima (2014)
Galariotis, E.C., W. Rong & S.I. Spyrou (2014)
Brown, M., S.T. Trautmann & R. Vlahu (2014)
Montagna, M. & T. Lux (2014)
Brooks, S.M., R. Cunha & L. Mosley (2014)
Karayalcin, C. & H. Onder (2014/19)
Pinna, A. (2014)
Amini, H. & A. Minca (2014)
Caccioli, F., J.D. Farmer, N. Foti & D. Rockmore (2014)
Aldasoro, I., D. Delli Gatti & E. Faia (2015/17)
Tola, A. & S. Wälti (2015)
Mink, M. (2015)
Eijffinger, S.C.W., M.L. Kobielarz & R.B. Uras (2015)
Pan, Z., X. Zheng & Y. Gong (2015)
Ahnert, T. & C. Bertsch (2015)
Ahmed, S., B. Coulibaly & A. Zlate (2015)
Fink, F. &l Y.S. Schuler (2015)
Alvarez, F. & G. Barlevy (2015)
Flavin, T. & L. Sheenan (2015)
Aït-Sahalia, Y., J. Cacho-Diaz & R.J.A. Laeven (2015)
Dungey, M., G. Milunovich, S. Thorp & M. Yang (2015)
Siebenbrunner, C. (2015)
Shen, P-L., W. Li, X-T. Wang & C-W. Su (2015)
Blatt, D., B. Candelon & H. Manner (2015)
Fengler, M.R. & K.I.M. Gisler (2015)
Kolasa, M., K. Makarski & M. Brzoza-Brzezina (2015)
Paltalidis, N., D. Gounopoulos, R. Kizys & Y. Koutelidakis (2015)
Hui, C-H., C-F. Lo, X-F. Zheng & T. Fong (2015)
Nuguer, V. (2015)
Dungey, M. & D. Gajurel (2015)
Anand, K., C. Gauthier & M. Souissi (2015)
Bougheas, S. & A. Kirman (2015)
Romero-Meza, R., C. Bonilla, H. Benedetti & A. Serletis (2015)
Changqing, L., X. Chi, Y. Cong & X. Yan (2015)
Aldasoro, I. & E. Faia (2015)
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Giannetti, M. (2004)
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Obstfeld, M. & K. Rogoff (2004)
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Gagnon, J.E. (2009/10)
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Farhi, E., S.P. Fraiberger, X. Gabaix, R. Ranciere & A. Verdelhan (2009)
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Eichler, S., A. Karmann & D. Maltritz (2009)
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Kaizoji, T. (2010)
Esaka, T. (2010)
Eijffinger, S.C.W. & B. Karatas (2010/12)
Grier, K. & S. Lin (2010)
Bussière, M., S.C. Saxena & C. Tovar (2010/12)
Aizenman, J., J. Lee & V. Sushko (2010)
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SURVEY PAPER
Glick, R. & M. Hutchison (2011)
Fratzscher, M., A. Mehl & I. Vansteenkiste (2011)
Pepinsky, T.B. (2012)
Aizenman, J. & M.M. Hutchison (2012)
Hall, S.G., A. Kenjegaliev, P.A.V.B. Swamy & G.S. Tavlas (2013)
Qin, X. & L. Liu (2014)
Esaka, T. (2014)
Erlera, A., C. Bauer & B. Herza (2014)
Kurlat, P. (2014)
Erler, A., C. Bauer & B. Herz (2015)
Aizenman, J. & M. Binici (2015)
Mitchener, K.J. & G. Pina (2016)
López-Suárez, C.F. & R. Razo-Garcia (2017)
Teimouri, S. & J. Zietz (2017)
Huang, C. (2017)
Nakatani, R. (2017/18)
Nakatani, R. (2018)
Kim, N.K. (2018)
Bird, G. (2019)
Tarashev, N. & A. Zabai (2019)
Bodart, V. & J.-F. Carpantier (2020)
Yilmazkuday, H. (2020/21)
Keefe, H.G. (2021)
Uhlig, H. (2022)
Brini, A. & J. Lenz (2022)
Kyriazis, N. & S. Corbet (2024)
Financial Stability & Supervision
Kiyotaki, N. & J. Moore (1997)
BIS (Various) (2000)
J.R. Macey & M. O'Hara (2001)
Mishkin, F.S. (2001)
Jahjah, S. (2001)
Kahn, C.M. & J.A.C. Santos (2001)
Kane, E.J. & A. Demirguc-Kunt (2001)
Lin, J.L. & C.S. Wu (2001)
Kamin, S.B., J.W. Schindler & S.L. Samuel (2001)
Bussiere, M. & M. Fratzscher (2002/06)
IMF (Mar 2002)
IMF (Jun 2002)
IMF (Sep 2002)
IMF (Dec 2002)
Abiad, A. (2003)
Martinez, J.L. & T.A. Rose (2003)
IMF (Mar 2003)
IMF (Sep 2003)
Chami, R., M.S. Khan & S. Sharma (2003)
Deutsche Bundesbank (Various) (2003)
Gros, D. (2003)
Valev, N.T. & J.A. Carlson (2003)
Goodhart, C.A.E., P. Sunirand & D.T. Tsomocos (2004)
Chan-Lau, J., A. Jobert & J. Kong (2004)
IMF (April 2004)
Arias, G. & U. Erlandsson (2004)
Berg, A., E.R. Borensztein & C.A. Pattillo (2004)
Berg, A. & R.N. Coke (2004)
Das, U.S., M.G. Quintyn & K. Chenard (2004)
Currie, C. (2004)
Houben, A., J. Kakes & G.J. Schinasi (2004)
Aizenman, J. & B. Pinto (2004)
Castro, J.F., E. Moron & D. Winkelried (2004)
IMF (Sep 2004)
Sy, A.N.R. (2004)
Calomiris, C., D. Klingebiel & L. Laeven (2004)
Levine, R. (2004)
Schinasi, G.J. (2004)
Loayza, N. & R. Ranciere (2004)
Pontines, V. & V. Siregar (2004)
Herring, R.J. (2004)
Servén, L. & P.J. Montiel (2004)
De Vries, C.G. (2005)
Cordella, T. & E.L. Yeyati (2005)
Smith, R.T. & H. van Egteren (2005)
Aizenman, J. (2005)
IMF (April 2004)
Ishihara, Y. (2005)
Ribakova, E. (2005)
Beck, T., A. Demirgüç-Kunt & R. Levine (2005)
Gapen, M.T., D.F. Gray, C.H. Lim & Y. Xiao (2005)
Loayza, N. & R. Ranciere (2005)
Dell'Ariccia, G. & R.S. Marquez (2005)
Ostry, J.D. & J. Zettelmeyer (2005)
Beckmann, D., L. Menkhoff & K. Sawischlewski (2005)
Apoteker, T. & S. Barthélémy (2005)
Avesani, R. (2005)
Pennacchi, G. (2006)
Cihák, M. & R. Podpiera (2006)
Peltonen, T.A. (2006)
Ramakrishnan, U. & J. Zalduendo (2006)
IMF (April 2006)
Lin, C-S., H.A. Khan, Y-C. Wang & R-Y. Chang (2006)
Chan Lau, J.A. (2006)
Avesani, R.G., A. Garcia Pascual & J. Li (2006)
Aka, B.E. (2006)
Easterly, W. (2006)
Boot, A.W.A. & M. Marinc (2006)
Schaeck, K., M. Cihák & S. Wolfe (2006)
Kim, J.I. (2006)
Cihák, M. (2006)
IMF (Sep 2006)
Alexander, G.J. & A.M. Baptista (2006)
Groome, T., N.R. Blancher, F. Haas, J. Kiff, W. Lee, P.S. Mills, S. Nakagawa, P. Ramlogan, O. Khadarina & Y.S. Kim (2006)
Basurto, M.A.S., C.A.E. Goodhart & B. Hofmann (2006)
Goodhart, C.A.E. (2006)
Sordi, S. & A. Vercelli (2006)
Cuaresma, J.C. & T. Slacik (2007)
Dees, S., S. Holly, M.H. Pesaran & L.V. Smith (2007)
Bordo, M.D. (2007)
Arnone, M., S.M. Darbar & A. Gambini (2007)
IMF (Apr 2007)
Xafa, M. (2007)
Kambhu, J., T. Schuermann & K.J. Stiroh (2007)
Weill, P-O. (2007)
Cuaresma, J.C. & T. Slacik (2007)
Honohan, P. (2007)
IMF (Sep 2007)
Nieto, M. & G.J. Schinasi (2007)
Chamon, M., P. Manasse & A. Prati (2007)
Cihák, M. & K. Schaeck (2007)
Fostel, A. & J. Geanakoplos (2008)
Cihák, M. & H. Hesse (2008)
Masciandaro, D. & M. Quintyn (2008)
Tchana Tchana, F. (2008)
IMF (Apr 2008)
Akram, Q.F. & O. Eitrheim (2008)
Repullo, R. & J. Suarez (2008)
Masciandaro, D., M. Quintyn & M. Taylor (2008)
Laeven, L. & R. Levine (2008)
Barth, J.R., C. Gerard, Jr. & R. Levine (2008)
Beck, T. (2008)
Cihák, M. & A.F. Tieman (2008)
Obstfeld, M., J.C. Shambaugh & A.M. Taylor (2008)
Moretti, M., S. Stolz & M. Swinburne (2008)
Nier, E. & L. Zicchino (2008)
IMF (Oct 2008)
Jeanne, O., J.D. Ostry & J. Zettelmeyer (2008)
Aumann, R.J. & R. Serrano (2008)
Shaffer, S. & S. Hoover (2008)
de Walque, G., O. Pierrard & A. Rouabah (2008)
Gollier, J-M. (2008)
Segoviano Basurto, M.A. & C.A.E. Goodhart (2009)
Shin, H.S. (2009)
Aizenman, J. (2009)
Singh, M. & C. Spackman (2009)
de Walque, G., O. Pierrard & A. Rouabah (2009)
Nier, E. (2009)
IMF (Apr 2009)
Baur, D.G. & N. Schulze (2009)
Shleifer, A. & R.W. Vishny (2009/10)
Cardarelli, R., S. Elekdag & S. Lall (2009)
Galai, D. & Z. Wiener (2009)
Sy, A.N.R. (2009)
Seelig, S.A. & A. Novoa (2009)
Farhi, E., M. Golosov & A. Tsyvinski (2009)
Capuano, C., J.A. Chan-Lau, J.G. Gasha, C.I. Medeiros, A. Santos & M. Souto (2009)
Carvajal, A. & J.A. Elliott (2009)
Tieman, A.F. & A.M. Maechler (2009)
Khandani, A.E., A.W. Lo & R.C. Merton (2009)
Huang, X., H. Zhou & H. Zhu (2009)
IMF (Oct 2002)
Chen, H., K. Clinton, M. Johnson, O. Kamenik & D. Laxton (2009)
Agenor, P-R. & L.A. Pereira da Silva (2009)
González-Hermosillo, B. & H. Hesse (2009)
Georgiou, A. (2009)
Agur, I. (2009)
Sun, T. & H. Hesse (2009)
Gola, C. & F. Spadafora (2009)
Angeloni, I. & E. Faia (2009/13)
de Walque, G., O. Pierrard & A. Rouabah (2009)
Alfaro, R. & M. Drehmann (2009)
Helwege, J. (2009)
Dailami, M. & P. Masson (2009)
Fonteyne, W., W. Bossu, L. Cortavarria, A. Giustiniani, A. Gullo, D.C.L. Hardy & S. Kerr (2010)
Demirgüç-Kunt, A. & E. Detragiache (2010)
IMF (Apr 2010)
Chan-Lau, J.A. (2010)
Dijkman, M. (2010)
Cecchetti, S., I. Fender & K.P. McGuire (2010)
Dattels, P., R. McCaughrin, K. Miyajima & J. Puig (2010)
Ötker, I. & J. Podpiera (2010)
Barrell, R., E.P. Davis, D. Karim & I. Liadze (2010)
Grimaldi, M.B. (2010)
Hatzius, J., P. Hooper, F.S. Mishkin, K.L. Schoenholtz & M.W. Watson (2010)
Giavazzi, F. & A. Giovannini (2010)
Fostel, A. & J. Geanakoplos (2010)
IMF (Oct 2010)
Bertrand, C., D. Elena-Ivona & H. Christophe (2010)
Blinder, A.S. (2010)
Feldman, R.J. & G.H. Stern (2010)
Prasad, E.S. (2010)
De Walque, G., O. Pierrard & A. Rouabah (2010)
Ranciere, R., A. Tornell & A. Vamvakidis (2010)
Dell'Ariccia, G., L. Laeven & R. Marquez (2010)
Das, U.S., M.G. Papaioannou, G. Pedras, F. Ahmed & J. Surti (2010)
Ong, L.L., R. Maino & N. Duma (2010)
Philippon, T. & P. Schnabl (2011)
Bianchi, J. & E.G. Mendoza (2011)
Hanson, S.G., A.K. Kashyap & J.C. Stein (2011)
Barnett, W.A. & M. Chauvet (2011)
Schoenmaker, D. & W. Wagner (2011)
Hoshi, T. (2011)
Allen, F., E. Carletti & D. Gale (2011)
Raddatz, C. (2011)
Benigno, G., H. Chen, C. Otrok, A. Rebucci & E. Young (2011/13)
IMF (Apr 2011)
Chan Lau, J.A. (2011)
Weiß, G.N.F. (2011)
Roger, S. & J. Vlcek (2011)
Diamond, D.W. & R. Rajan (2011/12)
De Nicolo, G. & M. Lucchetta (2011)
Sun, T. (2011)
Cosimano, T.F. & D. Hakura (2011)
Benes, J. & M. Kumhof (2011)
IMF (Jun 2011)
Kato, R. & T. Tsuruga (2011)
Unsal, D.F. (2011)
Espinosa-Vega, M.A., C. Kahn, R. Matta & J. Sole (2011)
Jin, J.Y., K. Kanagaretnam & G.J. Lobo (2011)
Pesola, J. (2011)
Eichengreen, B. & N. Dincer (2011)
IMF (Sep 2010)
Dagher, J. & N. Fu (2011/15)
Adrian, T. & M.K. Brunnermeier (2011/16)
Eijffinger, S.C.W. & R. Nijskens (2011)
Chow, J.T.S. & J. Surti (2011)
Cerutti, E., S. Claessens & P. McGuire (2011)
Gu, C. & R. Wright (2011/13)
Valencia, F. (2011/14)
Levy, B. (2011)
Anginer, F. & A. Demirguc-Kunt (2011)
Masciandaro, D., R. Vega Pansini & M. Quintyn (2011)
Hakenes, H. & I. Schnabel (2011)
Schumacher, L. & T.M. Barnhill (2011)
Hahm, J-H., F.S. Mishkin, H.S. Shin & K. Shin (2011)
Christensen, I., C. Meh & K. Moran (2011)
Agarwal, S., D. Lucca, A. Seru & F. Trebbi (2012)
Buiter, W.H. (2012)
Lopez-Espinosa, G., A. Moreno, A. Rubia & L. Valderrama (2012)
Giannone, D., M. Lenza, H. Pill & L. Reichlin (2012)
Acharya, V.V., L.H Pedersen, T. Philippon & M.P. Richardson (2012/16)
Aiyar, S., C.W. Calomiris & T. Wieladek (2012)
Maino, R. & K. Tintchev (2012)
De Nicoló, G. & M. Lucchetta (2012)
De Nicoló, G., A. Gamba & M. Lucchetta (2012)
IMF (Apr 2012)
Billio, M., L. Getmansky, A.W. Lo & L. Pelizzon (2012)
Gennaioli, N., A. Shleifer & R. Vishny (2012)
Chen, J. & P.A. Imam (2012)
Eijffinger, S.C.W. & R. Nijsken (2012)
Geanakoplos, J. (2012)
Acharya, V., R. Engle & M. Richardson (2012)
Abbe, E.A., A.E. Khandani & A.W. Lo (2012)
Andersen, T.G., T. Bollerslev, P.F. Christoffersen & F.X. Diebold (2012)
Battiston, S., D.D. Gatti, M. Gallegati, B. Greenwald & J.E. Stiglitz (2012)
López-Espinosa, G., A. Moreno, A. Rubia & L. Valderrama
Krause, A. & S. Giansante (2012)
Markose, S., S. Giansante & A.R. Shaghaghi (2012)
Bianchi, J., E. Boz & E.G. Mendoza (2012)
Vallascas, F. & K. Keasey (2012)
Drehmann, M., C. Borio & K. Tsatsaronis (2012)
Singh, M. (2012)
Severo, T. (2012)
Jobst, A. (2012)
Moshirian, F. (2012)
Taleb, N.N., E. Canetti, T. Kinda, E. Loukoianova & C. Schmieder (2012)
Soramaki, K. & S. Cook (2012)
Dreger, C. & K.A. Kholodilin (2012)
Fecht, F., H.P. Grüner & P. Hartmann (2012)
Audzei, V. (2012)
Bonner, C. & S.C.W. Eijffinger (2012)
Martinez-Miera, D. & J. Suarez (2012)
Benigno, G., H. Chen, C. Otrok, A. Rebucci & E.R. Young (2012/23)
IMF (Oct 2012)
Agénor, P-R. & L.A. Pereira da Silva (2012)
Bianchi, J. (2012)
Sarlin, P. (2013)
Masciandaro, D. & F. Passarelli (2013)
Acemoglu, D., A. Ozdaglar & A. Tahbaz-Salehi (2013/15)
Haubrich, J.G. & A.W. Lo (editors) (2013)
Gravelle, T. & F. Li (2013)
Milne, A. (2013)
Miles, D., J. Yang & G. Marcheggiano (2013)
Frost, J. & A. Saiki (2013/14)
Jokipii, T. & P. Monnin (2013)
Hallak, I. (2013)
Cumperayot, P. & R. Kouwenberg (2013)
Chan-Lau, J. (2013)
IMF (Apr 2013)
Ordonez, G. (2013/18)
Morahan, A. & C. Mulder (2013)
Lo Duca, M. & T.A. Peltonen (2013)
Chari, V.V. & P.J. Kehoe (2013)
Sarlin, P. & T.A. Peltonen (2013)
Comelli, F. (2013/14)
Buncic, D. & M. Melecky (2013)
Bremus, F., C. Buch, K. Russ & M. Schnitzer (2013)
Drehmann, M. & M. Juselius (2013)
Wang, C. (2013)
Oet, M.V., T. Bianco, D. Gramlich & S.J. Ong (2013)
Georgoutsos, D.A. & P.M. Migiakis (2013)
IMF (Oct 2013)
Ong, L.L. & C. Pazarbasioglu (2013)
Munakata, K., K. Nakamura & Y. Teranishi (2013)
Varotto, S. (2013)
Park, C-Y. & R.V. Mercado (2013)
Gray, D.F. (2013)
Davila, E. (2013)
Hardy, D.C. & C. Schmieder (2013)
de Bandt, O., J.-C. Héam, C. Labonne & S. Tavolaro (2013)
Bookstaber, R., J. Cetina, G. Feldberg, M. Flood & P. Glasserman (2013)
Dell'Ariccia , G. & L. Ratnovski (2013)
Gorton, G. & A. Metrick (2013)
Calmès, C. & R. Théoret (2013)
Mulligan, R.F. (2013)
Fouejieu Azangue, A. (2013)
Betz, F., S. Oprica, T.A. Peltonen & P. Sarlin (2013)
Pennathur, A.K. & S. Vishwasrao (2013)
Shin, H.S. (2013)
Navajasm, M.C. & A. Thegeya (2013)
Fujiwara, I. & Y. Teranishi (2013)
D'Erasmo, P., B. Durdu & E. Boz (2013)
Alexander, G.J., A.M. Baptista & S. Yan (2014)
Phillips, S., L. Catão, L.A. Ricci, R. Bems, M. Das, J. di Giovanni, D.F. Unsal, M. Castillo, J. Lee, J. Rodriguez & M. Vargas (2014)
Ponce, J. & M. Rennert (2014)
Che, N.X. & Y. Shinagawa (2014)
He, Z. & A. Krishnamurthy (2014/19)
Knedlik, T. (2014)
Flood, M.D., V.L. Lemieux, M. Varga & B.L.W. Wong (2014)
Banulescu, G-D. & E-I. Dumitrescu (2014)
He, Z. & A. Krishnamurthy (2014)
Solomon, D.H., E.F. Soltes & D. Sosyura (2014)
Claessens, C. & L.E. Kodres (2014)
Jeanne, O. (2014)
Cole, H. & T.F. Cooley (2014)
Aysan, A.F., S. Fendoglu & M. Kilinc (2014)
IMF (Apr 2014)
Molyneux, P., K. Schaeck & T.M. Zhou (2014)
Debrun, X. & T. Kinda (2014)
Comelli, F. (2014)
Tchana Tchana, F. (2014)
van der Kwaak, C.G.F. & S.J.G. van Wijnbergen (2014)
Ellis, L., A. Haldane & F. Moshirian (2014)
Qin, X. & C. Luo (2014)
Chari, V.V. & C. Phelan (2014)
Diebold, F.X. & K. Yilmaz (2014)
Tagkalakis, A.O. (2014)
Ohnsorge, F., M. Wolski & Y.S. Zhang (2014)
Bayoumi, T. (2014)
Cervantes, R., P. Jeasakul, J. Maloney & L.L. Ong (2014)
Hesse, H., F. Salman & C. Schmieder (2014)
Born, B., M. Ehrmann & M. Fratzscher (2014)
SURVEY PAPER
Bougheas, S. & A. Kirman (2014)
Kim, K. ↦ S. Mitra (2014)
Acharya, V., R. Engle & D. Pierret (2014)
Laeven, L., L. Ratnovski & H. Tong (2014)
Alessandri, P., S. Masciantonio & A. Zaghini (2014/15)
Anginer, D. & A. Demirguc-Kunt (2014)
Raffestin, L. (2014)
Borgy, V., L. Clerc & J-R. Renne (2014)
Schmaltz, C., S. Pokutta, T. Heidorn & S. Andrae (2014)
Claessens, S., S.R. Ghosh & R. Mihet (2014)
Ganioglu, A. (2014)
Amado, M. (2014)
Nisticò, S. (2014)
Tsionas, E.G. (2014)
Keister, T. (2014)
Kühnhausen, F. (2014)
Caggiano, G., P. Calice & L. Leonida (2014)
Bernal, P., J-Y. Gnabo & G. Guilmin (2014)
Fullenkamp, C. & C. Rochon (2014)
Fratianni, M. & J. Pattison (2014)
Enrique Moral-Benito; Oliver Roehn (2014)
Koop, G. & D. Korobilis (2014)
IMF (Oct 2014)
Adrian, T. & J.N. Liang (2014)
Agénor, P-R., K. Alper & L.A. Pereira da Silva (2014)
Lu, J. & X. Hu (2014)
Bicaba, Z., D. Kapp & F. Molteni (2014)
Ueda, K. & F. Valencia (2014)
Dehmamy, N., S.V. Buldyrev, S. Havlin, H.E. Stanley & I. Vodenska (2014)
Craig, B.R., M. Koetter & U. Kruger (2014)
Cooper, R. & F. Boissay (2014)
van Oordt, M. & C. Zhou (2014)
Freixas, X. & K. Ma (2014)
León, C., R.J. Berndsen & L. Renneboog (2014)
Bongini, P., L. Nieri & M. Pelagatti (2014)
Banulescu, G-D. & E-I. Dumitrescu (2014)
Bezemer, D. & M. Grydaki (2014)
Claessens, S. (2014)
Radev, D. (2014)
Hardy, D.C. & P. Hochreiter (2014)
Moreno, C., C. Saavedra & B. Ulloa (2014)
Catullo, E., M. Gallegati & A. Palestrini (2014)
Klimek, P., S. Poledna, J.D. Farmer & S. Thurner (2014)
Avgouleas, E. & C.A. Goodhart (2014)
Gong, D. (2014)
Behn, M., R. Haselmann & V. Vig (2014)
Mandel, A., S. Landini, M. Gallegati & H. Gintis (2014)
Lainà, P., J. Nyholm & P. Sarlin (2014/15)
SURVEY PAPER
Cariolle, J. & M. Goujon (2014)
Ono, A., H. Uchida, G. Udell & I. Uesugi (2014)
Varotto, S. & L. Zhao (2014/18)
Eidenberger, J., B. Neudorfer, M. Sigmund & I. Stein (2015)
Horváth; R. & J. Jonášová (2014)
Arzamasov, V. & H. Penikas (2014)
Mariathasan, M., O. Merrouche & C. Werger (2014)
Wendt, F. (2015)
Cerutti, E., S. Claessens & L. Laeven (2015)
Li, W-X., C.C-S. Chen & J.J. French (2015)
Taylor, A.M. (2015)
Hubrich, K. & R.J. Tetlow (2015)
Ahnert, T. & E.C. Perotti (2015)
Dicks, D.L. & P. Fulghieri (2015/19)
McDonald, C. (2015)
Taylor, A.M. (2015)
Candelon, B. & A.N.R. Sy (2015)
Ben Ali, M.S., T. Intissar & R. Zeitun (2015)
Garratt, R. & P. Zimmerman (2015)
Espinosa-Vega, M.A. & S. Russell (2015)
Arango, C.A. & O.M. Valencia (2015)
Allen, F., E. Carletti, I. Goldstein & A. Leonello (2015/18)
Ayadi, R, S. Ben Naceur, B. Casu & B. Quinn (2015)
Fungacova, Z., R. Turk & L. Weill (2015)
Maffezzoli, M. & T. Monacelli (2015)
Duffie, D/ & J.C. Stein (2015)
Hall, R.E. & R. Reis (2015)
Grupp, M. (2015)
Billio, M., R. Casarin, M. Costola & A. Pasqualini (2015/16)
Gresnigt, F., E. Kole &mpa; P.H. Franses (2015)
Bookstaber, R., P. Glasserman, G. Iyengar, Y. Luo, V. Venkatasubramanian & Z. Zhang (2015)
Schoenmaker, D. & P. Wierts (2015)
Rutledge, J. (2015)
Levine, P. & D. Lima (2015)
Cesa-Bianchi, A. & A. Rebucci (2015)
Demekas, D.G. (2015)
Laseen, S., A. Pescatori & J. Turunen (2015)
Begenau, J., M. Piazzesi & M. Schneider (2015)
Langfield, S. & M. Pagano (2015)
Gómez-Pineda, J., D.M. Guillaume & K. Tanyeri (2015)
Almarzoqi, R., S. Ben Naceur & A. Kotak (2015)
Melecky, M. & A.M. Podpiera (2015)
Capponi, A. & P-C. Chen (2015)
Bulow, J. & P. Klemperer (2015)
Bailliu, J., C. Meh & Y. Zhang (2015)
L'Huillier, J-P., F. Piguillem & J. Flemming (2015)
Joyce, J. (2015)
van Oordt, M. & C. Zhou (2015)
Demirer, M., F.X. Diebold, L. Liu & K. Yilmaz (2015)
Berardi, S. & G. Tedeschi (2015)
Admati, A.R. (2015)
Engel, C. (2015)
Brzoza-Brzezina, M., M. Kolasa & K. Makarski (2015)
Reboredo, J.C. & A. Ugolini (2015)
Bianchi, J., C. Liu & E.G. Mendoza (2015/16)
Fazio, D.M., B.M. Tabak & D.O. Cajueiro (2015)
SURVEY PAPER
Zigraiova, D. & T. Havranek (2015)
Reinhardt, D. & R. Sowerbutts (2015)
Tillmann, P. (2015)
Irwin, T. (2015)
IMF (Oct 2015)
Chow, J.T.S. (2015)
Acemoglu, D., A. Ozdaglar & A. Tahbaz-Salehi (2015)
Hollander, H. (2015)
Calluzzo, P. ∓ G.N. Dong (2015)
Dermine, J. (2015)
Fernandes, M., D. Igan & M. Pinheiro (2018/20)
Friedrich, C., K, Hess & R. Cunningham (2015)
Greenwood, R., A. Landier & D. Thesmar (2015)
McDonald, C. (2015)
Hall, R.E. & R. Reis (2015)
Kato, R. & T. Tsuruga (2015)
Berger, D. & K. Pukthuanthong (2015)
Engle, R.F., E. Jondeau & M. Rockinger (2015)
Vitali, S., S. Battiston & M. Gallegati (2015)
Agur, I. & M. Demertzis (2015)
Han, L., Q. Zheng, L. Li & L. Yin (2015)
Moenninghoff, S.C., S. Ongena & A. Wieandt (2015)
Schoenmaker, D. & P. Wierts (2015)
te Kaat, D.M. & V. Dinger (2015)
Trebbi, F. & K. Xiao (2015)
Berdin, E. & M. Sottocornolay (2015)
Carretta, A., V. Farina, F. Fiordelisi, P. Schwizer & F.S. Stentella Lopes (2015)
Sun, L. & Y. Huang (2016)
Dobler, M., S. Gray, D. Murphy & B. Radzewicz-Bak (2016)
Sun, L. & Y. Huang (2016)
Berlinger, E. (2016)
Beber, A., D. Fabbri & M. Pagano (2016)
Bova, E., M. Ruiz-Arranz, F.G. Toscani & H.E. Ture (2016)
Nucera, F., B. Schwaab, S.J. Koopman & A. Lucas (2016)
Korinek, A. & A. Simsek (2016)
Gorton, G. & E.W. Tallman (2016)
Górnicka, L.A. & M.A. Zoican (2016)
Kara, G.I. (2016)
Chan, S. & S. van Wijnbergen (2016)
Giglio, S., B. Kelly & S. Pruitt (2015/16)
Grodecka, A. (2016)
van der Veer, K., E. Klaaijsen & R. Roerink (2016)
IMF (Apr 2016)
Rubens, S., S. de Souza, T.C. Silva, B.M. Tabak & S.M Guerra (2016)
Benes, J., D. Laxton & J. Mongardini (2016)
Kleinow, J. & F. Moreira (2016)
Cizel, J., J. Frost, A.G.F.J. Houben & P. Wierts (2016)
Kadan, O., F. Liu & S. Liu (2016)
Ahnert, T., K. Anand, P. Gai & J. Chapman (2016/19)
Cueva, C. & A. Rustichini (2016)
Li, F. & H. Perez Saiz (2016)
Greenwood-Nimmo, M. & A. Tarassow (2016)
de Souza, S.R.S., T.C. Silva, B.M. Tabak & S.M. Guerra (2016)
Kolasa, M. (2016)
Sultanum, B. (2016/18)
Del Negro, M., G. Eggertsson, A. Ferrero & N. Kiyotaki (2016/17)
Clancy, D. (2016/17)
Woodford, M. (2016)
Iyer, R., T. Jensen, N. Johannesen & A. Sheridan (2016)
Fratzscher, M., P.J. König & C. Lambert (2016)
Stenbacka, R. & T. Takalo (2016)
Leduc, M.V. & S. Thurner (2016/17)
Smets, F. & S. Villa (2016)
Grippa, P. & L. Gornicka (2016)
Dávila, E. & A. Korinek (2016)
Carlson, M.A. & D.C. Wheelock (2016)
Behn, M., M. Gross & T. Peltonen (2016)
Bauer, G., G. Pasricha, R. Sekkel & Y. Terajima (2016)
Bengui, J., J. Bianchi & L. Coulibaly (2016)
van de Leur, M.C.W. & A. Lucas (2016/17)
Kogler, M. (2016)
Laeven, L., L. Ratnovski & H. Tong (2016)
Hirtle, B., A. Kovner, J. Vickery & M. Bhanot (2016)
Farhi, E. & I. Werning (2016)
Chari, V.V. & P.J. Kehoe (2016)
Guerneau, S. & F. Leon (2016)
Hoffmann, H., T. Meyer-Brandis & G. Svindland (2016)
Phelan, G. (2016)
IMF (Oct 2016)
Roman, R., A.N. Berger & J. Sedunov (2016)
de Bandt, O. & M. Chahad (2016)
Distinguin, I., A. Mahdavi-Ardekani & A. Tarazi (2016)
Avdjiev, S., C. Koch, P. McGuire & G. von Peter (2016)
Lamers, M., F. Mergaerts, E. Meuleman & R.V. Vennet (2016)
Tanaka, K., T. Kinkyo & S. Hamori (2016)
Beck, T., T. Chen, C. Lin & F.M. Song (2016)
Jain, P.K., P. Jain & T.H. McInish (2016)
Goetz, M. (2016)
Cihák, M., D.S. Mare & M. Melecky (2016)
Schoenmaker, D. (2016/17)
Paddrik, M. & J.J. Wang (2016/19)
Liu, K. (2016)
Namvar, E., B. Phillips, K. Pukthuanthong & P.R. Rau (2016)
Pourkhanali, A., J-M. Kim, L. Tafakori & F.A. Fard (2016)
Engel, C. (2016)
Mendoza, E.G. (2016)
Martin, F., A. Berentsen & D. Andolfatto (2016)
Brownlees, C. & R.F. Engle (2016)
Buston, C.S. (2016)
Masciandaro, D. & D. Romelli (2016)
Garcia-Macia, D. & A. Villacorta (2016)
Giglio, S. (2016)
Carmassi, J. & R. Herring (2016)
Hakenes, H. & E. Schiephake (2016)
Mardan, M. (2017)
Fouejieu, A. (2017)
Collard, F., H. Dellas, B. Diba & O. Loisel (2017)
Irresberger, F., C. Bierth & G.N.F. Weiß (2017)
Li, B. (2017)
Philippon, T., P. Pessarossi & B. Camara (2017)
Ninomiya, K. (2017)
Moyen, S. & J. Schroth (2017)
Popoyan, L., M. Napoletano & A. Roventini (2017)
Passmore, W. & A.H. von Hafften (2017)
Coimbra, N. & H. Rey (2017)
Benoit, S., J-E. Colliard, C. Hurlin & C. Pérignon (2017)
Ashraf, Q., B. Gershman & P. Howitt (2017)
Poledna, S., O. Bochmann & S. Thurner (2017)
Cecchetti, S., T.M. Griffoli & M. Narita (2017)
Lozej, M., L. Onorante & A. Rannenberg (2017)
Jorda, O., B. Richter, N. Schularick & A.M. Taylor (2017/21)
Abad, J., M. D'Errico, N. Killeen, V. Luz, T. Peltonen, R. Portes & T. Urbano (2017)
Gofman, M. (2017)
Pagratis, S., N. Topaloglou & M. Tsionas (2017)
Vitek, F. (2017)
Gehrig, T. & M.C. Iannino (2017)
Gaelle, T. & Y. Tchikanda (2017)
IMF (Apr 2017)
Cateau, G. & M. Shukayev (2016)
Boleslavsky, R., D.L. Kelly & C.R. Taylor (2017)
Jobst, A.A., L.L. Ong & C. Schmieder (2017)
Chan-Lau, J.A. (2017)
Meeks, R. (2017)
Beirne, J. & C. Friedrich (2017)
Agénor, P-R., E. Kharroubi, L. Gambacorta, G. Lombardo & L.A. Pereira da Silva (2017)
Occhino, F. (2017)
Krznar, I. & T.D. Matheson (2017)
Horváth, B.L. & W. Wagner (2017)
Heath, R.M. & E.B. Goksu (2017)
Di Tella, S. (2017/19)
Kang, H., F. Vitek, R. Bhattacharya, P. Jeasakul, S. Muñoz, N. Wang & R. Zandvakil (2017)
Caballero, R.J. & A. Simsek (2017)
Altunbas, Y., M. Binici & L. Gambacorta (2017/18)
Aikman, D., M. Kiley, S.J. Lee, M.G. Palumbo & M. Warusawitharana (2017)
Chami, R., T.F. Cosimano, E. Kopp & C. Rochon (2017)
Saldías, M. (2017)
Gourio, F., A.K. Kashyap & J. Sim (2017)
Kopp, E., L. Kaffenberger & N. Jenkinson (2017)
Brownlees, C., B. Chabot, E. Ghysels & C. Kurz (2017/20)
Panetti, E. & L.G. Deidda (2017)
Tasca, P., S. Battiston & A. Deghi (2017)
Christiano Silva, T., M.A. da Silva & B.M. Tabak (2017)
Lhuissier, S. (2017)
Duarte, F. & T. Adrian (2017)
Peydro, J-L., G. Jimenez, S. Ongena & J. Saurina (2017)
Bernard, B., A. Capponi & J.E. Stiglitz (2017/22)
Adrian, T. & N. Boyarchenko (2017)
Brave, S.A. & J.A. Lopez (2017)
Boissel, C., F. Derrien, E. Ors & D. Thesmar (2017)
IMF (Oct 2017)
Donaldson, J.R. & E. Micheler (2017)
Malik, S. & T. Xu (2017)
Laséen, S., A. Pescatori & J. Turunen (2017)
Kashyap, A.K., D.P. Tsomocos & A. Vardoulakis (2017/24)
Frache, S., J. Ponce & J. Garcia-Cicco (2017)
Torchiani, I., T. Heidorn & C. Schmaltz (2017)
Farhi, E. & J. Tirole (2017/21)
Hundtofte, S. (2017)
Uribe, J.M., H. Chuliá & M. Guillén (2017)
Ozdenoren, E. & K. Yuan (2017)
Bruha, J. & E. Kocenda (2017)
Sterzel, A. & U. Neyer (2017)
Schaeck, K., C. Silva Buston & W. Wagner (2017)
SURVEY PAPER
Nikolaidi, M. & E. Stockhammer (2017)
Orlov, D., P. Zryumov & A. Skrzypacz (2017)
Rubio, M. (2017/20)
Gadatsch, N., L. Mann & I. Schnabel (2017/18)
Verona, F., M.M.F. Martins & I. Drumond (2017)
Kiley, M.T. & J. Sim (2017)
Hollander, H. (2017)
Brzoza-Brzezina, M., M. Kolasa & K. Makarski (2017)
Avdjiev, S., B. Bogdanova, P. Bolton, W. Jiang & A. Kartasheva (2017/20)
Aizenman, J., M.D. Chinn & H. Ito (2017)
Adrian, T. (2017)
Colletaz, G., G. Levieuge & A. Popescu (2017)
van der Kwaak, C. & S. van Wijnbergen (2017)
Athreya, K.B., J. Mustre-del-Rio & J.M.Sanchez (2017/19)
Ari, A., M. Darracq-Paries, C. Kok & D. Zochowski (2017)
Battiati, C. (2017/19)
Lubello, F. & A. Rouabah (2017)
Garbers, C. & G. Liu (2017)
Takáts, E. & J. Temesvary (2017)
Takats, E. & J. Temesvary (2017/21)
Moratis, G. & P. Sakellaris (2017)
Mezei, J. & P. Sarlin (2018)
Choi, S.M., L.E. Kodres & J. Lu (2018)
Epure, M., T. Mihai, C. Minoiu & J-L. Peydró (2018)
Mittnik, S. & W. Semmler (2018)
Hale, G. & J.A. Lopez (2018/19)
Nyman, R., S. Kapadia, D. Tuckett, D. Gregory, P. Ormerod & R. Smith (2018)
Krug, S. (2018)
Jones, B. (2018)
Löffler, G. & P. Raupach (2018)
Donaldson, J.R. & E. Micheler (2018)
Adrian, T., K. Borowiecki & A. Tepper (2018)
Epure, M., I. Mihai, C. Minoiu & J-L. Peydró (2018)
Leduc, S. & J-M. Natal (2018)
Lucchetta, M., M. Moretto & B.M. Parigi (2018)
Geršl, A. & M. Jašová (2018)
Singh, M. & Z. Alam (2018)
Morrison, A. & A. Walther (2018)
Honda, J., R. Tapsoba & I. Issifou (2018)
IMF (Apr 2018)
Beck, T., C. Silva-Buston & W. Wagner (2018)
Du, B. & D. Palia (2018)
Aysun, U. (2018)
Biagini, F., J-P. Fouque, M. Frittelli & T. Meyer-Brandis (2018)
Dungey, M., M. Luciani & D. Veredas (2018)
Converse, N., E. Levy-Yeyati & T. Williams (2018/23)
Adler, G. & D. Garcia-Macia (2018)
Allen, F. & X. Gu (2018)
Dewenter, K.L. & L.A. Riddick (2018)
Mazzarisi, P., F. Lillo & S. Marmi (2018/19)
Wang, G-J., Z-Q. Jiang, M. Lin, C. Xie & H.E. Stanley (2018)
Fang, L., B. Sun, H. Li & H. Yu (2018)
Alogoskoufis, S. & S. Langfield (2018)
Basak, D. & Y. Zhao (2018)
Cooper, R. & K. Nikolov (2018)
Olszak, M., S. Roszkowska & I. Kowalska (2018)
Gallegati, M. & D.D. Gatti (2018)
Pandolfi, L. (2018)
Basak, D. & Y. Zhao (2018)
Papanikolaou, N.I. (2018)
Frost, J. & R. van Stralen (2018)
Aikman, D., J. Giese, S. Kapadia & M. McLeay (2018)
Khan, A. (2018)
Bekiros, S., R. Nilavongse & G.S. Uddin (2018)
Bolton, P. & M. Oehmke (2018/19)
Cetorelli, N. & J. Traina (2018)
Jondeau, E. & J-G. Sahuc (2018)
Katz, M. & C. van der Kwaak (2018)
Deidda, L.G. & E. Panetti (2018)
Di Gangi, D., F. Lillo & D. Pirino (2018)
Goldstein, I. & Y. Leitner (2018)
Garcia, F. & E. Panetti (2018)
Anderson, R., J. Danielsson, C. Baba, U.S. Das, H. Kang & M.A. Segoviano Basurto (2018)
Damette, O. & A. Parent (2018)
Gross, M., J. Henry & W. Semmler (2018)
Schich, S. (2018)
Richter, B., M. Schularick & I. Shim (2018/19)
Anginer, D., A. Demirguc-Kunt, H. Huizinga & K. Ma (2018)
IMF (Oct 2018)
Bengui, J. & J. Bianchi (2018)
Jin, H. & C. Xiong (2018)
Brunetti, C., J.H. Harris & S. Mankad (2018)
Lorenc, A. & J.Y. Zhang (2018)
Buchak, G., G. Matvos, T. Piskorski & A. Seru (2018)
Agur, I. (2018/19)
Abendschein, M. & P. Grundke (2018)
Acharya, V. & G. Plantin (2018)
Basto, R., D. Lima & S. Gomes (2018)
Ferreira de Mendonça, H. & C. Oliveira de Moraes (2018)
Chen, C. Y-H., W.K. Härdle & Y. Okhrin (2018)
Gersbach, H., V. Hahn & Y. Liu (2018)
O'Brien, M. & M. Wosser (2018)
Acosta-Smith, J., M. Grill & J.H. Lang (2018)
O'Neill, C. & N. Vause (2018)
Ayyagari, M., T. Beck & M.S. Martinez Peria (2018)
Chen, W. & G. Phelan (2018)
Asano, K. (2018)
Fatone, L. & F. Mariani (2018)
Das, S., K.J. Mitchener & A. Vossmeyer (2018)
Imai, M. (2019)
Laeven, L. (2019)
Carey, M. (2019)
Keister, T. (2019)
Kolari, J.W., F.J. López-Iturriaga & I.P. Sanz (2019)
Xu, T., K. Hu & U.S. Das (2019)
Bakoush, M., E.H. Gerding & S. Wolfe (2019)
Alfaro, L., G. Asis, A. Chari & U. Panizza (2019)
Agénor, P-E. & L.A. Pereira da Silva (2019)
Dhaene, J., R.J.A. Laeven & Y. Zhang (2019)
Lubis, A., C. Alexiou & J.G. Nellis (2019)
Schroth, J. (2019)
Martinez-Miera, D. & R. Repullo (2019)
Hué, S., Y. Lucotte & S. Tokpavi (2019)
Paulin, J., A. Calinescu & M. Wooldridge (2019)
Dimova, D., S. Malik & M.A. Segoviano Basurto (2019)
Tayler, W.J. & R. Zilberman (2019)
Alam, Z., A. Alter, J. Eiseman, R.G. Gelos, H. Kang, M. Narita, E. Nier & N. Wang (2019)
Silva-Buston, C. (2019)
Tarullo, D.K. (2019)
Giordani, P. & S.H. Kwan (2019)
Calò, S. (2019)
Spelta, A., N. Pecora & P. Rovira Kaltwasser (2019)
Ahamed, M.M. & S.K. Mallick (2019)
Fève, P., A. Moura & O. Pierrard (2019)
Acharya, V. & G. Plantin (2019)
Wezel, T. (2019)
Acharya, V.V., B. Imbierowicz, S. Steffen & D. Teichmann (2019/20)
Gu, C., C. Monnet, E. Nosal & R. Wright (2019)
Popoyan, L., M. Napoletano & A. Roventini (2019/20)
Ben Naceur, S., B. Candelon & Q. Lajaunie (2019)
Admati, A.R. & M.F. Hellwig (2019)
Meuleman, E. & R.V. Vennet (2019)
Davis, E.P., I. Liadze & R. Piggott (2019)
Lee, D. & H. Park (2019)
Brunetti, C., J.H. Harris, S. Mankad & G. Michailidis (2019)
Harris, R.D.F., L.H. Nguyen & E. Stoja (2019)
Zochowski, D., F. Franch & L. Nocciola (2019)
Caballero, R.J. & A. Simsek (2019)
Ely, R.A., B.M. Tabak & A.M. Teixeira (2019)
Langedijk, S. & A. Fontana (2019)
Pavlidis, E., I. Paya & A. Skouralis (2019)
Aguilar, P., S. Hurtado, S. Fahr & E. Gerba (2019)
Liu-Evans, G. & S. Mitra (2019)
Lepers, E. & C. Mehigan (2019)
Raykov, R. (2019)
Goyal, A., R. Sengupta & A. Verma (2019)
Kozlovtceva, I., A. Ponomarenko, A. Sinyakov & S. Tatarintsev (2019)
Lubello, F., I. Petrella & E. Santoro (2019)
Gebauer, S. & F. Mazelis (2019)
Silva, T.C., S.M. Guerra & B. M. Tabak (2019)
Martinez-Miera, D. & R. Repullo (2019)
Monnet, E. & M. Vari (2019)
Kerry, W. (2019)
Gebauer, S. & F. Mazelis (2019)
Brana, S., A. Campmas & I. Lapteacru (2019)
Glocker, C. (2019)
Gross, M. & W. Semmler (2019)
Brandao-Marques, L., Q. Chen, C. Raddatz, J. Vandenbussche & P. Xie (2019)
Norring, A. (2019)
Balfoussia, H., H. Dellas & D. Papageorgiou (2019)
D'Orazio, P. (2019)
Benigno, G., H. Chen, C. Otrok, A. Rebucci & E.R. Young (2019)
Han, F. & M. Leika (2019)
Ben Hassine, M. & N. Rebei (2019)
Agarwal, V., G.O. Aragon & Z. Shi (2019)
Flemming, J., J-P. L'Huillier & F. Piguillem (2019)
Konecny, T. & L. Pfeifer (2019)
de Haan, J., Z. Jin & C. Zhou (2019)
Aikman, D., J. Bridges, S. Hacioglu Hoke, C. O'Neill & A. Raja (2019)
Agénor, P.R. (2019)
Jobst, A.A. & H. Oura (2019)
Roncoroni, A., S. Battiston, M. D'Errico, G. Halaj & C. Kok (2019/21)
Hanley, R.W. & G. Hoberg (2019)
Iyer, R., T.L. Jensen, N. Johannesen & A. Sheridan (2019)
Füss, R. & D. Ruf (2019)
Fiordelisi, F., F. Minnucci, D. Previati & O. Ricci (2019)
Gai, P. & S. Kapadia (2019)
Voellmy, L. (2019)
Alonso, I. & L. Molina (2019)
Gaganis, C., A. Lozano-Vivas, P. Papadimitri & F. Pasiouras (2020)
Ma, C. (2020)
Chen, W. & G. Phelan (2020/23)
Deghi, A., M. Katagiri, S. Shahid & N. Valckx (2020)
Ramadiah, A., F. Caccioli & D. Fricke (2020)
Amendola, A., C. Barra, M. Boccia & A. Papaccio (2019)
König-Kersting, C., S.T. Trautmann & R. Vlahu (2019)
Chamizo, A. & A. Novales (2020)
Foglia, M., A. Cartone & C. Fiorelli (2020)
Fidrmuc, J. & R. Lind (2020)
Hodbod, A., S.J. Huber & K. Vasilev (2020)
Dávila, E. & A. Walther (2020)
Bostanci, G. & K. Yilmaz (2020)
Espinoza, R.A., M.A. Segoviano & J. Yan (2020)
Grundke, P. & A. Kühn (2020)
Creel, J., P. Hubert & F. Labondance (2020)
Filippopoulou, C., E. Galariotis & S. Spyrou (2020)
Bats, J.V. & A.C.F.J. Houben (2020)
Capponi, A., F.C. Corell & J.E. Stiglitz (2020/22)
Edge, R.M. & J.N. Liang (2020)
Durand, P. & G. Le Quang (2020)
Chousakos, K.T., G.B. Gorton & G. Ordoñez (2020)
Behncke, S. (2020)
Davis, E.P., D. Karim & D. Noel (2020)
Venter, Z. (2020)
Acemoglu, D., A. Ozdaglar, J. Siderius & A. Tahbaz-Salehi (2020)
Brei, M., B. Gadanecz & A. Mehrotra (2020)
Kara, G.I. & S.M. Ozsoy (2020)
Asis, G., A. Chari & A. Haas (2020)
Irani, R., R. Iyer, J-L. Peydró & R. Meisenzahl (2020/21)
Andries, A.M., S. Ongena, N. Sprincean & R. Tunaru (2020)
Farmer, J.D., A.M. Kleinnijenhuis, P. Nahai-Williamson & T. Wetzer (2020)
Magill, M., M. Quinzii & J-C. Rochet (2020)
Sahin, C., J. de Haan & E. Neretina (2020)
Baum, C.F., C.F. Grazzini & D. Schäfer (2020)
Correa, R. & L.S. Goldberg (2020)
Belton, D., L. Gambacorta, S. Kokas & R. Minetti (2020)
Acharya, V.V., K. Bergant, M. Crosignani, T. Eisert & F.J. McCann (2020)
Chen, J., D. Finocchiaro, J. Lindé & K. Walentin (2020)
Andries, A.M., A.M. Podpiera & N. Sprincean (2020)
Li, Y. (2020)
Acharya, V.V., S. Bhadury & J. Surti (2020)
Cont, R., A. Kotlicki & L. Valderrama (2020)
Catalan, M. & A.W. Hoffmaister (2020/22)
Araujo, J.D., M. Patnam, A. Popescu, F. Valencia & W. Yao (2020)
Belkhir, M., S. Ben Naceur, B. Candelon & J-C. Wijnandts (2020)
Grilli, R., F. Giri & M. Gallegati (2020)
Goldstein, I., A. Kopytov, L. Shen & H. Xiang (2020)
Porcellacchia, D. (2020)
Liang, S., F. Moreira & J. Lee (2020)
Poghosyan, T. (2020)
Ino, A. & Y. Matsuki (2020)
Hartwig, B., C. Meinerding & Y. Schüler (2020/21)
Hasse, J-B. (2020)
Rojas, D., C.A. Vegh & G. Vuletin (2020)
Forbes, K.J. (2020)
Badarau, C., M. Carias & J-M. Figuet (2020)
Fang, C. & T.J. Yeager (2020)
Breuer, T. & M. Summer (2020)
Kogler, M. (2020)
Muñoz, M.A. (2020)
Creel, J., P. Hubert & F. Labondance (2020)
Barajas, A., A. Deghi, C. Raddatz, D. Seneviratne, P. Xie & Y. Xu (2020)
Reyes-Heroles, R. & G. Tenorio (2020)
Garcia Revelo, J.D., Y. Lucotte & F. Pradines-Jobet (2020)
Bobasu, A., F. Venditti & S. Arrigoni (2020)
Wu, J., Y. Yao, M. Chen & B.N. Jeon (2020)
Chen, W. & G. Phelan (2020)
Ramadiah, A., D. Fricke & F. Caccioli (2020/22)
Pasten, E. (2020)
Aysun, U. & S. Alpanda (2020)
Groen, J.J.J., M. Nattinger & A.I. Noble (2020)
Abbassi, P. & F. Bräuning (2020)
Franta, M. & L. Gambacorta (2020)
Brunnermeier, M. & A. Krishnamurthy (2020)
Anand, K. & J. Mankart (2020)
Doldi, A. & M. Frittelli (2020)
Akinci, O., G. Benigno, M. Del Negro & A. Queraltó (2020)
Walther, A. & L. White (2020)
https://www.imf.org/en/Publications/WP/Issues/2020/09/11/Exchange-Rates-and-Domestic-Credit-Can-Macroprudential-Policy-Reduce-the-Link-49725
Fung, D.W.H., W.Y. Lee, J.J.H. Yeh & F.L. Yuen (2020)
Cappelletti, G., A. Ponte Marques, C. Salleo & D.V. Carmelo (2020)
Nistor, S. & S. Ongena (2020)
Rieder, K. (2020)
Schilling, L., J. Fernández-Villaverde & H. Uhlig (2020)
SURVEY PAPER
Jackson, M.O. & A. Pernoud (2020)
Adrian, T. & F. Vitek (2020)
Montagna, M., G. Torri & G. Covi (2020)
Nier, E., T.T. Olafsson & Y.G. Rollinson (2020)
Barajas, A., A. Deghi, C. Raddatz, D. Seneviratne, P. Xie & Y. Xu (2020)
Adrian, T., F. Duarte, N. Liang & P. Zabczyk (2020)
Brunnermeier, M/K., M. Sockin & W. Xiong (2020)
Montagnoli, A., K. Mouratidis & K. Whyte (2021)
Phan, D.H.B., B.N. Iyke, S.S. Sharma & Y. Affandi (2021)
Van der Ghote, A. (2021)
Deng, Y., Z. Zhang & L. Zhu (2021)
Bush, G., T. Gómez, A. Jara, D. Moreno, K. Styrin & Y. Ushakova (2021)
Davydov, D., S. Vähämaa & S. Yasar (2021)
Millard, S., M. Rubio & A. Varadi (2021)
Elliott, M., C-P. Georg & J. Hazell (2021)
Baruník, J. & F. Cech (2021)
Chen, H., Y. Xu & J. Yang (2021)
Bolton, P., T. Santos & J.A. Scheinkman (2021)
Hashimoto, K., R. Im, T. Kunieda & A. Shibata (2021)
Akcay, M. &l; E. Elyasiani (2021)
Hinterschweiger, M., K. Khairnar, T. Ozden & T. Stratton (2021)
Glocker, C. (2021)
Beber, A., D. Fabbri, M. Pagano & S. Simonelli (2021)
Matyska, B. (2021)
Migueis, M. & A. Jiron (2021)
Lyu, J., V.P.M. Le, D. Meenagh & P. Minford (2021)
Chari, A., L. Jain & N. Kulkarni (2021)
Dordevic, L., C. Ferreira, M. Kitonga & K. Seal (2021)
Timmer, Y. (2021/22)
Claessens, S., G. Cornelli, L. Gambacorta, F. Manaresi & Y. Shiina (2021)
Qin, X. & C. Zhou (2021)
Collodel, U. (2021)
Chadha, J.S., G. Corrado, L. Corrado & I. De Lorenzo Buratta (2021)
Brunnermeier, M., D. Palia, K.A. Sastry & C.A. Sims (2021)
Schularick, M., L. ter Steege & F. Ward (2021)
Nyman, R., S. Kapadia & D. Tuckett (2021)
Dávila, E. & A. Walther (2021)
Schroth, J. (2021)
Mamatzakis, E.C., S. Ongena & M.G. Tsionas (2021)
Beutel, J., N. Metiu & V. Stockerl (2021)
Matsumoto, H. (2021)
Ampudia, M., M. Lo Duca, M. Farkas, G. Perez-Quiros, M. Pirovano, G. Rünstler & E. Tereanu (2021)
Acharya, V.V., K. Bergant, M. Crosignani, T. Eisert & F. McCann (2021)
Reinders, H.J., D. Schoenmaker & M.A.Van Dijk (2021)
Catullo, E., F. Giri & M. Gallegati (2021)
Cottrell, S., X. Yu, S. Delpachitra & Y. Ma (2021)
El-Shagi, M. & C. Turcu (2021)
Hristov, N., O. Hülsewig & B. Kolb (2021)
Mirzaei, A., F. Pasiouras & A. Samet (2021)
Ellul, A. & D. Kim (2021)
Ly, K.C. & K. Shimizu (2021)
Bosshardt, J., A. Kakhbod & F. Saidi (2021)
Acharya, S. & K. Dogra (2021)
Darracq Pariès, C. Kok Sørensen & M. Rottner (2021/23)
Chopra, T., K. Subramanian & P.L. Tantri (2021)
Rots, E. & B. Szekely (2021)
Calice, P., L. Leonida & E. Muzzupappa (2021)
Makarewicz, T. (2021)
Buckmann, M., A. Haldane & A-C. Hüser (2021)
Bigio, S. & A. d'Avernas (2021)
Doerr, S. (2021)
Alexander, G.J., A.M. Baptista & S. Yan (2021)
Haufler, A. (2021)
Ferriani, F. & A. Gazzani (2021)
Aggarwal, R., J. Bai & L. Laeven (2021)
Grodzicki, M. & M. Jarmuzek (2021)
Apergis, N., A.F. Aysan & Y. Bakkar (2021)
Caporin, M., M. Costola, J-C. Garibal & B. Maillet (2021)
Song, J., Z. Zhang & M.K.P. So (2021)
Busch, P., G. Cappelletti, V. Marincas, B. Meller & N. Wildmann (2021)
Vaille, M. (2021)
Copeland, A., D. Duffie & Y. Yang (2021)
Jarrow, R., P. Protter & A. Quintos (2021)
Carlson, M., S. Correia & S. Luck (2022)
Abdelsalam, O., M. Elnahass, H. Ahmed & J. Williams (2022)
Balli, F., M.I.H. Chowdhury & A. de Bruin (2022)
Carlson, M., S. Correia & S. Luck (2022)
Hristov, N. & M. Roth (2022)
Chari, A., K.D. Stedman & K. Forbes (2022)
SURVEY PAPER
Vollmer, U. (2022)
Ajello, A., N. Boyarchenko, F. Gourio & A. Tambalotti (2022)
Baumöhl, E., E. Bouri, T-H-V. Hoang, S.J.H. Shahzad & T. Výrost (2022)
Basu, K. & H. Sun (2022)
Liu, R. & C.S. Pun (2022)
Chen, W., X. Hou, M. Jiang & C. Jiang (2022)
Jung, H. (2022)
Curfman, C.J. & J. Kandrac (2022)
IMF (Apr 2022)
Agoraki, M-E.K., N. Aslanidis & G.P. Kouretas (2022)
Bouveret, A., A. Martin & P.E. McCabe (2022)
Salisu, A.A., R. Demirer & R. Gupta (2022)
Risfandy, T., A. Tarazi & I. Trinugroho (2022)
Markoulis, S., S. Martzoukos & E. Patsalidou (2022)
Altunbas, Y., D. Marques-Ibanez, M. van Leuvensteijn & T. Zhao (2022)
Pellegrini, C.B., P. Cincinelli, M. Meoli & G. Urga (2022)
Duprey, T. & B. Klaus (2022)
Kapinos, P., N.K. Kishor & J. Ma (2022)
Ábrahám, A., E. Cárceles-Poveda, Y. Liu & R. Marimon (2022)
Garcia Revelo, J.D. & G. Levieuge (2022)
Cehajic, A. & M. Košak (2022)
Kladakis, G., L. Chen & S.K. Bellos (2022)
Berger, A.N., J. Cai, R.A. Roman & J. Sedunov (2022)
Daníelsson, J., R. Macrae & A. Uthemann (2022)
dos Santos Mendes, L., R. de Oliveira Leite & J. Fajardo (2022)
Acharya, V.V. & R. Rajan (2022)
Biswas, S. & R. Kumar (2022)
Hosszu, Z. & G. Lakos (2022)
Raykov, R. & C. Silva-Buston (2022)
Bassett, W.F. & D.E. Rappoport (2022)
Kogler, M. (2022)
Belkhir, M., S. Ben Naceur, B. Candelon, J-C. Wijnandts (2022)
Begenau, J. & T. Landvoigt (2022)
Clayton, C. & A. Schaab (2022)
Huang, S., Z. Qiu, G. Wang & X. Wang (2022)
Bennett, F., G. Montamat & F. Roch (2022)
Gardini, L., D. Radi, N. Schmitt, I. Sushko & F. Westerhoff (2022)
Davis, D.D., O. Korenok & J.P. Lightle (2022)
Bostandzic, D., F. Irresberger, R.E. Juelsrud & G. Weiß (2022)
Eisenbach, T.M. & G. Phelan (2022)
Herreño, J. & C. Rondón-Moreno (2022)
Das, S.R., M. Kalimipalli & S. Nayak (2022)
Choi, S-Y. (2022)
di Iasio, G., C. Kaufmann & F. Wicknig (2022)
Muñoz, M.A. & F. Smets (2022)
Schneorson, O. (2022)
Jank, S., E. Mönch & M. Schneider (2022)
Skrinjaric, T. (2022)
IMF (Oct 2022)
McLemore, P., A. Mihov & L. Sanz (2022)
Kim, S. & A. Mehrotra (2022)
Aftab, M. & K. Phylaktis (2022)
Bocola, L. & G. Lorenzoni (2022)
Andries, A.M., A-M. Chiper, S. Ongena & N. Sprincean (2022)
Kok, C., F.P. Mongelli & K. Hobelsberger (2022)
Shahhosseini, M. (2022)
Agénor, P-R. & T.P. Jackson (2022)
Oura, H. (2022)
Benchimol, J. & C. Bozou (2022)
Borio, C., I. Shim & H.S. Shin (2022)
Beutel, J., N. Metiu, E. Prieto & Y. Schüler (2022)
Lehar, A. & C.A. Parlour (2022)
Manna, I., M. Suster & B. Banerjee (2022)
Fernandez-Gallardo, A. (2023)
Brumm, J., M. Grill, F. Kubler & K. Schmedders (2023)
de Carvalho Filho, I.E. & D. Ng (2023)
SURVEY PAPER
Tabassum, M.Y. (2023)
SURVEY PAPER
Gatt, W. (2023)
Harrison, M., J. Nakajima & M. Shabani (2023)
Beck, T., C. Silva-Buston & W. Wagner (2023)
Biljanovska, N. & S. Chen (2023)
Arce, F., J. Bengui & J. Bianchi (2023)
Hooley, J., A. Khan, C. Lattie, I. Mak, N. Salazar, A. Sayegh & P. Stella (2023)
Barbagli, M. & F. Vrins (2023)
Alonso-Alvarez, I. & L. Molina (2023)
Belkhir, M., S. Ben Naceur, B. Candelon, W.G. Choi & F. Mugrabi (2023)
de Moraes, C.O. & A. Costa (2023)
Fernández-Rodríguez, E., R. García-Fernández & A. Martínez-Arias (2023)
Carletti, E., A. Leonello & R. Marquez (2023)
Bergant, K., F. Grigoli, N-J. Hansen & K.D. Sandri (2023)
Hoga, Y. (2023)
Pariès, M.D., G. Müller & N. Papadopoulou (2023)
Hasman, A. & M. Samartín (2023)
Chang, Y., D. Firoozi & D. Benatia (2023)
Zhong, C., L. Xie, Y. Shi & X. Xu (2023)
Dutra, T.M., J.C.A. Teixeira & J.C. Dias (2023)
Cerasi, V. & P. Galfrascoli (2023)
Spits, L., V. Grossman & E. Martinez-Garcia (2023)
Aikman, D., D. Beale, A. Brinley-Codd, A-C. Hüser, G. Covi & C. Lepore (2023)
Reinhardt, D., S. Reynolds, R. Sowerbutts & C. van Hombeeck (2023)
Popoyan, L., M. Napoletano & A. Roventini (2023)
Aydin, S. & C. Tunç (2023)
Wellink, N. (2023)
Chavleishvili, S., M. Kremer & F. Lund-Thomsen (2023)
Adrian, T., F. Duarte & T. Iyer (2023)
Sergeyev, D., C. Lian & Y. Gorodnichenko (2023)
Chavleishvili, S. & M. Kremer (2023)
da Costa, K. (2023)
Agarwal, S., M. Hadzic, C. Song & Y. Yildirim (2023)
Tzur-Ilan, N. (2023)
Hacibedel, B. & H. Perez-Saiz (2023)
Callegari, G., R. Marimon, A. Wicht & L. Zavalloni (2023)
Pelzl, P. & M.T. Valderrama (2023)
IMF (Oct 2023)
Altinoglu, L. (2023)
Orlov, D., P. Zryumov & A. Skrzypacz (2023)
Fang, Y., Y. Wang, Q. Wang & Y. Zhao (2023)
Ahir, H., G. Dell'Ariccia, D. Furceri, C. Papageorgiou & H. Qi (2023)
Manu, S.A. & Y. Qi (2023)
Aramonte, S., A. Schrimpf & H.S. Shin (2023)
SURVEY PAPER
Aikman, D., D. Beale, A. Brinley-Codd, G. Covi, A.C. Hüser & C. Lepore (2023)
Cairó, I. & J. Sim (2023)
Chao, W., M. Jing & L. Xiaoxing (2023)
Tzavellas, H. (2023)
Abbassi, P., R. Iyer, J-L. Peydró & P.E. Soto (2023)
Greenwald, E., S. Schulhofer-Wohl & J. Younger (2023)
Budnik, K., J. Groß, G. Vagliano, I. Dimitrov, M. Lampe, J. Panos, S. Velasco, L. Boucherie & M. Jancoková (2023)
Bevilacqua, M., M. Duygun & D. Vioto (2023)
Luu, H.N., C.P. Nguyen & M.A. Nasir (2023)
Cevik, S. (2023)
Bonciani, D., D. Gauthier & D. Kanngiesser (2023)
Mishin, A. (2023)
Chen, J., D. Finocchiaro, J. Lindé & K. Walentin (2023)
SURVEY PAPER
Namaki, A., R. Eyvazloo & S. Ramtinnia (2023)
Jiang, E.X., G. Matvos, T. Piskorski & A. Seru (2023)
Lloyd, S., A. Fernández-Gallardo & E. Manuel (2023)
Bochmann, P., D. Dieckelmann, S. Fahr & J. Ruzicka (2023)
Hlavinova, J., B. Rudloff & A. Smirnow (2023)
Infante, S., K. Kim, A. Orlik, A.F. Silva & R.J. Tetlow (2023)
Jakubik, P. & B.G. Moinescu (2024)
Niepmann, F. & V. Stebunovs (2024)
Berger, A.N., X. Li, H. Saheruddin & D. Zhao (2024)
Lubello, F. & A. Rouabah (2024)
Wei, J. & T. Xu (2024)
Danisman, G.O. & A. Tarazi (2024)
De Novellis, G., P. Musile Tanzi, M.G. Ranalli & E. Stanghellini (2024)
Kladakis, G. & A. Skouralis (2024)
SURVEY PAPER
Malovaná, S., M. Hodula, Z. Gric & J. Bajzík (2024)
Rhee, K. & K. Dogra (2024)
Igarashi, Y. & K. Liu (2024)
Giraldo, I.,, J.E. Gomez-Gonzalez & J.M. Uribe (2024)
Plosser, M.C. & J.A.C. Santos (2024)
Peydró, J-L., F. Rodriguez-Tous, J. Tripathy & A. Uluc (2024)
Matos, T.F.A., J.C.A. Teixeira & T.M. Dutra (2024)
Etesami, J., A. Habibnia & N. Kiyavash (2024)
Shmygel, A. & S. Ongena (2024)
Bajrami, F. (2024)
Li, B. & X. Zhang (2024)
Del Fava, S., R. Gupta, C. Pierdzioch & L. Rognone (2024)
Bas, T., I. Malki & S. Sivaprasad (2024)
Macroeconomic Crises
Barro, R. & J. Ursua (2008)
Barro, R.J. & T. Jin (2009/11)
Nakamura, E., J. Steinsson, R. Barro & J. Ursua (2010)
Saito, M., S. Suzuki & T. Yamada (2010)
Reinhart, C.M. & V.R. Reinhart (2010)
Lettau, M. & S.V. Ludvigson (2011)
Gourio, F. (2011)
Becchetti, L. & S. Castriota (2011)
Koulovatianos, C. & V. Wieland (2011)
Barro, R.J. & J.F. Ursua (2011)
Gourio, F. (2012)
Breuer, J.B. & J. McDermott (2013)
Zhang, L., L-A. Kuehn & N. Petrosky-Nadeau (2013)
Petrosky-Nadeau, N. & L. Zhang (2013/21)
Baker, S.R. & N. Bloom (2013)
Dabla-Norris, E. & Y. Bal Gündüz (2014)
Bakker, B.B. & L. Lipschitz (2014)
Gualdi, S., M. Tarzia, F. Zamponi & J-P. Bouchaud (2014)
Shen, W. (2014)
Acemoglu, D., A. Ozdaglar & A. Tahbaz-Salehi (2015/17)
Bharadwaj, P., P. Lundborg & D-O. Rooth (2015)
Stiglitz, J.E. (2015)
Osotimehin, S. & F. Pappadà (2015)
Ruhm, C.J. (2015)
Fernandez-Villaverde, J. & O. Levintal (2016)
Kirsanova, T., C. Nolan & M. Shafiei Deh Abad (2016)
Seo, S.B. & J.A. Wachter (2016)
Johannessen, J-A. (2016)
Lewis, K.K. & E.X. Liu (2017)
Manela, A. & A. Moreira (2017)
Nakamura, E., D. Sergeyev & J. Steinsson (2017)
Franta, M. (2017)
Gerhards, L. & M. Heinz (2017)
Romero Cortés, C. & P.E. Strahan (2017)
Garcia-Macia, D. (2017)
Riccetti, L., A. Russo & M. Gallegati (2018)
Neyapti, B. (2018)
Petrosky-Nadeau, N., L. Zhang & L-A. Kuehn (2018)
Cerovic, S., K. Gerling, A. Hodge & P. Medas (2018)
Neyapti, B. (2018)
Nelson, B. & G. Pinter (2018)
Schüwer, U., C. Lambert & F. Noth (2019)
Kang, K. (2019)
Bertocco, G. & A. Kalajzic (2019)
Cantelmo, A., G. Melina & C. Papageorgiou (2019)
Horvath, J. (2020)
Barro, R.J., J.F. Ursua & J. Weng (2020)
Eichenbaum, M.S., S. Rebelo & M. Trabandt (2020)
Hong, H., N. Wang & J. Yang (2020)
Gregory, V., G. Menzio & D.G. Wiczer (2020)
Baker, S.R., N. Bloom & S.J. Terry (2020)
Jovanovic, B. & S. Ma (2020/22)
Lackner, S. (2020)
Nguyen, J., T. Dinh & M. Selart (2020)
Abel, A.B. & S. Panageas (2020)
Dovern, J. & C. Zuber (2020)
Jovanovic, B. & S. Ma (2020)
Zhao, Y. & M-T. Yu (2020)
Cantelmo, A. (2020)
Barro, R.J. & T. Jin (2021)
Goolsbee, A. & C. Syverson (2021)
Barro, R.J. & G.Y. Liao (2021)
Bhattarai, S., F. Schwartzman & C. Yang (2021)
Assenza, T., C. Hellwig, F. Collard, M. Dupaigne, P. Fève, S. Kankanamge & N. Werquin (2021)
Alonso-Carrera, J., S. Bouché & C. de Miguel (2021)
Gulan, A., M. Haavio & J. Kilponen (2021)
Aurland-Bredesen, K.J. (2021)
Gouriéroux, C., A. Monfort, S. Mouabbi & J-P. Renne (2021)
Armantier, O., G. Ko?ar, R. Pomerantz, D. Skandalis, K. Smith, G. Topa & W. van der Klaauw (2021)
Afonso, G., M. Cipriani, A. Copeland, A. Kovner, G. La Spada & A. Martin (2021)
Aromí, J.D. (2021)
Johar, M., D.W. Johnston, M.A. Shields, P. Siminski & O. Stavrunova (2022)
Kuruc, K. (2022)
Dave, C., S. Dressler & S. Malik (2022)
Agarwal, R. (2022)
Agarwal, R. & G. Gopinath (2022)
Gomez-Gonzalez, J.E., J.M. Uribe & O.M. Valencia (2023)
Kuehn, L-A., D. Schreindorfer & F. Schulz (2023)
Skavysh, V., S. Priazhkina, D. Guala & T.R. Bromley (2023)
Bernard, C. & X. Cui (2023)
Kholodilin, K.A. & M. Rieth (2023)
Pagano, M., C. Wagner & J. Zechner (2023)
Shapiro, J. & J. Zeng (2024)
Dai, L., D. Luo & M. Yang (2024)
Sovereign Debt Crises
Miller, M. & L. Zhang (1999)
Chui, M., P. Gui & A.G. Haldane (2001)
Truman, T. (2001)
Becker, T.I., A.J. Richards & Y. Thaicharoen (2001)
Paasche, B. & S. Zin (2002)
Rogoff, K. & J. Zettelmeyer (2002)
Kremer, M. & S. Jayachandran (Jul 2002)
Rogoff, K. & J. Zettelmeyer (2002)
Catao, L.A. & B.W. Sutton (2002)
IMF (2002)
Uribe, M. (2002)
Bhatia, A.V. (2002)
Razin, A. & E. Sadka (2003)
Chan-Lau, J. (2003)
Sy, A.N. (2003)
de Araujo, A.P. & M.S. Leon (2003)
Jahjah, S. & P. Montiel (2003)
Singh, M. (2003)
Eichengreen, B., K. Kletzer & A. Mody (2003)
Manasse, P., N. Roubini & A. Schimmelpfennig (2003)
Kraeussl, R. (2003)
Haldane, A.G., G. Irwin & V. Saporta (2004)
Pescatori, A. & A.N. Sy (2004)
Kruger, M. & M. Messmacher (2004)
Stein, J. (2003)
Chamon, M. (2004/06)
Jeanne, O. (2004/09)
de Britto, P.A. (2004)
Akemann, M. & F. Kanczuk (2004)
Stein, J. (2004)
Portes, R. (2004)
Manasse, P. & N. Roubini (2005/09)
Singh, M. & J.R. Andritzky (2005)
Sturzenegger, F. & J. Zettelmeyer (2005/08)
Ciarlone, A. & G. Trebeschi (2005)
Thimann, C., T. Bracke, P-F. Weber & C. Just (2005)
Kozack, J. (2005)
Cohen, D & R. Portes (2006)
Sole, J. (2006)
de Bolle, M.B., I. Hakobyan & B. Rother (2006)
Sturzenegger, F. & J. Zettelmeyer
Noy, I. (2008)
Arteta, C. & G. Hale (2008)
Mendoza, E.G. & V.Z. Yue
Arellano, C. & A. Ramanarayanan (2008)
Parra, S.N. (2008)
Popov, S.V. & D.G. Wiczer (2009)
Fuentes, M. & D. Saravia (2009)
Hatchondo, J.C. & L. Martinez (2009)
Boz, E. (2009/11)
Bandiera, L., J.C. Cuaresma & G.A. Vincelette (2010)
Levy Yeyati, E. & U. Panizza (2010)
Gennaioli, N., A. Martin & S. Rossi (2010)
Zhu, J. & S. Xie (2011)
Durdu, C.B., R. Nunes & H. Sapriza (2010/13)
Guillard, M. & R. Sosa Navarro (2010)
Hatchondo, J.C., L. Martinez & H. Sapriza (2010)
Das, U.S., M.G. Papaioannou & C. Trebesch (2010)
Yue, V.Z. (2010)
Benigno, G., H. Chen, C. Otrok, A. Rebucci & E.R. Young (2010)
Bernal, O., K. Oosterlinck & A. Szafarz (2010)
Cohen, D. & S. Villemot (2011/15)
Cohen, D. & C. Valadier (2011)
Bolton, P. & O. Jeanne (2011)
Martinez, J.V. & G. Sandleris (2011)
Guimaraes, B. (2011)
Aizenman, J., M.M. Hutchison & Y. Jinjarak (2011)
SURVEY PAPER
Stähler, N. (2011)
Cruces, J.J. & C. Trebesch (2011/13)
Hatchondo, J.C., L. Martinez & C. Sosa Padilla (2011/16)
Bi, H. (2011)
Mendoza, E.G. & V.Z. Yue (2011)
Schabert, A. (2011)
Brutti, F. (2011)
Acharya, V.V., I. Drechsler & P. Schnabl (2011)
Hui, C-H. & T-K. Chung (2011)
Braun, R.A. & T. Nakajima (2012)
Bi, H. (2012)
Cohen, D. & S. Villemot (2012)
Dovis, A. (2012/19)
Goncalves, C.E. & B. Guimarães (2012)
Adam, K. & M. Grill (2012/17)
Committeri, M. & F. Spadafora (2013)
Reis, R. (2013)
Corsetti, G. & L. Dedola (2013)
Niepelt, D. & H. Dellas (2013)
Lorenzoni, G. & I. Werning (2013/19)
Jorda, O., M.H.P. Schularick & A.M. Taylor (2013)
Aguiar, M., M. Amador, E. Farhi & G. Gopinath (2013)
Calvo, G. (2013)
Broner, F., A. Erce, A. Martin & J. Ventura (2013)
Reinhart, C. & K. Rogoff (2013)
Badaoui, S., L. Cathcart & L. El-Jahel (2013)
Stahler, N. (2013)
Martinez, L., J. Hatchondo & J. Bianchi (2013)
Coudert, V. & V. Mignon (2013)
D'Erasmo, P. & E.G. Mendoza (2013)
Hürtgen, P. & R. Rühmkorf (2013/14)
Kalemli-Ozcan, S., E.E. Luttini & B. Sorensene (2014)
Iachan, F.S. & P.T. Nenov (2014)
Arellano, C. & Y. Bai (2014)
Röttger, J. (2014)
Liu, G. (2014)
Martinez, M., J. Hatchondo, B. Kuruscu & B. Guler (2014)
Ordonez,G., D. Neuhann & H. Cole (2014)
Fernández, R. & A. Martín (2014)
Kaminsky, G.L. & P. Vega-Garcia (2014)
Sanchez, J.M., H. Sapriza & E. Yurdagul (2014/18)
Hoque, H., D. Andriosopoulos, K. Andriosopoulos & R. Douady (2014)
Escolano, J., C. Kolerus & C.L. Ngouana (2014)
Fernandez, R. & A. Martin (2014)
Popov, S.V. & D.G. Wiczer (2014)
Conesa, J.C. & T.J. Kehoe (2015)
Gu, G.W. (2015)
Neri, S. & T. Ropele (2015)
Jeanneret, A. & S. Souissi (2015)
Bacchetta, P., E. Perazzi & E. van Wincoop (2015/18)
Iachan, F.S. & P.T. Nenov (2015)
Tirole, J. (2015)
Onder, Y.K. (2015/21)
Balke, N.L. & M.O. Ravn (2015)
Reinhart, C.M. & M.A. Santos (2015)
Arellano, C., A. Atkeson & M. Wright (2015)
Ravn, M. & N. Balke (2015)
Escaniano, J.C., L. Martinez & F. Roch (2015/22)
Pancrazi, R., C. Hellwig & C. de Soyres (2015)
Mariscal, R., A. Powell, G. Sandleris & P. Tavella (2015)
Pouzo, D. & I. Presno (2015/16)
Mallucci, E. (2015)
Fostel, A. & J. Geanakoplos (2018)
Kriwoluzky, A., G.J. Müller & M. Wolf (2015/19)
Kriwoluzky, A., G. Müller & M. Wolf (2015)
Tavares, T. (2015)
Wright, M., C. Trebesch & M. Schlegl (2015)
Reinhart, C.M. & C. Trebesch (2015)
Kriwoluzky, A., G.J. Müller & M. Wolf (2015)
Mamatzakis, E. & M.G. Tsionas (2015)
Molteni, F. (2015)
Arellano, C. & Y. Bai (2016)
Aguiar, M., S. Chatterjee, H. Cole & Z. Stangebye (2016)
Sakuragawa, M. & Y. Sakuragawa (2016)
Cole, H., D. Neuhann & G. Ordonyez (2016)
Asonuma, T. (2016)
Asonuma, T. (2016)
Egorov, K. & M. Fabinger (2016)
Hebert, B. & J. Schreger (2016)
Jeon, K. & Z. Kabukcuoglu (2016)
D'Erasmo, P. & E.G. Mendoza (2016)
Alfaro, L. (2016)
Bocola, L. & A. Dovis (2016/19)
Aguiar, M., M. Amador, H. Hopenhayn & I. Werning (2016/19)
Kaminsky, G.L. & P. Vega-Garcia (2016)
Asonuma, T. (2016)
Reinhart, C.M., V. Reinhart & C. Trebesch (2016)
Klomp, J. (2017)
Cantore, C., P.L. Levine, G. Melina & J.G. Pearlman (2017/19)
Aguiar, M., S. Chatterjee, H. Cole & Z. Stangebye (2017/22)
Ekici, O. & K. Nemlioglu (2017)
Bassetto, M. & C. Galli (2017/19)
Becker, B. & V. Ivashina (2017/18)
Arellano, C., Y. Bai & G. Mihalache (2017/18)
Asonuma, T., D. Niepelt & R. Ranciere (2017)
Salomao, J. (2017)
Arellano, C., Y. Bai & L. Bocola (2017)
Alfaro, L. & F. Kanczuk (2017)
Lopez-Martin, B., J. Leal & A. Martinez Fritscher (2017/19)
Park, J. (2014/17)
Bernabé, L-M., J.C. Leal-Ordoñez & M. André (2017)
Gordon, G. & P.A. Guerron-Quintana (2017)
Phelan, C. & M. Amador (2017/21)
Mihalache, G. (2017/20)
Marchesi, S. & T. Masi (2017/21)
de Ferra, S. (2017)
Altavilla, C., M. Pagano & S. Simonelli (2017)
Popescu, A. & C. Turcu (2017)
Ari, A. (2017)
Foroni, C., F. Ravazzolo & B. Sadaba (2018)
Schuhmacher, J., C. Trebesch & H. Enderlein (2018/21)
Andrade, S.C. & V. Chhaochharia (2018)
Liu, F., E. Kalotay & S. Trück (2018)
Binici, M. & M. Hutchison (2018)
Liu, S. & H. Shen (2018/22)
Holden, S., G.J. Natvik & A. Vigier (2018)
Ayres, G.N., J.P. Nicolini & P. Teles (2018)
Teixeira, J.C.A., F.J.F. Silva, M.B.S. Ferreira & J.A.C. Vieira (2018)
Ari, A., G. Corsetti & L. Dedola (2018)
Le Grand, F. & X. Ragot (2018/21)
Cheng, G., J. Diaz-Cassou & A. Erce (2018)
Afonso, A., M.G. Arghyrou, M.D. Gadea & A. Kontonikas (2018)
Amador, M. & C. Phelan (2018)
de Ferra, S. & F. Romei (2018)
Alonso, J.A. (2018)
Marchesi, S. & T. Masi (2018)
Andritzky, J., D.I. Christofzik, L.P. Feld & U. Scheuering (2018)
Yamazaki, T. (2018)
Dvorkin, M., J.M. Sanchez, H. Sapriza & E. Yurdagul (2018)
Dioikitopoulos, E.V. (2018)
Ghulam, Y. & J. Derber (2018)
Bocola, L., G. Bornstein & A. Dovis (2018/19)
Eberhardt, M. (2018)
D'Erasmo, P. & E.G. Mendoza (2018/21)
Gennaioli, N., A. Martin & S. Rossi (2018)
Hernandez, J. (2018)
Roch, F. & H. Uhlig (2018)
Mengus, E. (2018)
Cuadra, G., M. Ramon-Francia & S. Garcia-Verdu (2018)
Hur, S., I.O. Kondo & F. Perri (2018)
Sabbadini, R. (2018)
Thaler, D. (2018/21)
Erce, A. & E. Mallucci (2018)
Grisse, C. & G.J. Natvik (2018/22)
Dvorkin, M., J.M. Sanchez, H. Sapriza & E. Yurdagul (2018)
Bianchi, J. & J. Mondragon (2018/22)
Khan, S., A. Johri & C. Sosa-Padilla (2018)
Balima, H.W. & A.N. Sy (2019)
Seoane, H.D. (2019)
D'Erasmo, P., I. Livshits & K. Schoors (2019)
Asonuma, T., M.D. Chamon, A. Erce & A. Sasahara (2019)
Galli, C. (2019/21)
Ayres, J.L., G. Navarro, J.P. Nicolini & P. Teles (2019)
Pappada, F. & Y. Zylberberg (2019)
Alessi, L., P. Balduzzi & R. Savona (2019)
Arellano, C., X. Mateos-Planas & J-V. Ríos-Rull (2019/23)
Nier, E., R. Popa, M. Shamloo & L. Voinea (2019)
Okachi, M. (2019)
Della Posta, P. (2019)
Kuvshinov, D. & K. Zimmermann (2019)
Alessandria, G., M. Deng & Y. Bai (2019)
Dvorkin, M., J.M. Sanchez, H. Sapriza & E. Yurdagul (2019)
Pancrazi, R., H.D. Seoane & M. Vukotic (2019/20)
Durán, L.G-O., S. Niemann & P. Pichler (2020)
Corsetti, G. & S.H. Maeng (2020)
Espino, E., J. Kozlowski, F.M. Martin & J.M. Sanchez (2020)
Aguiar, M. & M. Amador (2020)
Alessandria, G., Y. Bai & M. Deng (2020)
Sunder-Plassmann, L. (2020)
Kirchner, M. & M. Rieth (2020)
Hatchondo, J.C., L. Martínez & C. Sosa-Padilla (2020)
Kobayashi, K. & K. Ueda (2020)
Gutkowski, V.A. (2021)
Önder, Y.K. & E. Sunel (2021)
Hatchondo, J.C., L. Martinez & C. Sosa-Padilla (2020)
Balima, H.W., J-L. Combes & A. Minea (2021)
Hur, S., C. Sosa-Padilla & Z. Yom (2021)
Pekarski, S. & A. Sokolova (2021)
Dimopoulos, T. & N. Schürhoff (2021)
Morelli, J.M., P. Ottonello & D.J. Perez (2021/22)
Asonuma, T. & H. Joo (2021)
Amador, M/ & C. Phelan (2021/23)
Nadarajah, S., H.N. Duong, S. Ali, B. Liu & A. Huang (2021)
Gu, G.W. (2021)
Harashima, T. (2021)
Canofari, P., G. Di Bartolomeo & M. Messori (2021)
Zendejas, J.F., P. Pénet & C. Suter (2021)
Szkup, M. (2022)
SURVEY PAPER
Elberry, N.A., F. Naert & S. Goeminne (2022)
Campos-Martins, S. & C. Amado (2022)
Bloise, G. & Y. Vailakis (2022)
Gomez-Gonzalez, J.E., O.M. Valencia & G.A. Sánchez (2022)
Donaldson, J.R., L. Kremens & G. Piacentino (2022)
Guler, B., Y.K. Onder & T. Taskin (2022)
Erce, A., E. Mallucci & M. Picarelli (2022)
Eichler, S. & J.H. Pyun (2022)
Horn, S., C.M. Reinhart & C. Trebesch (2022)
Arslanalp, S. & L. Sunder-Plassmann (2022)
Hatchondo, J.C., L. Martinez, K. Onder & F. Roch (2022)
Panizza, U. (2022)
Buera, F. & S. Karmakar (2022)
Hatchondo, J.C., L. Martinez & F. Roch (2022)
Muñoz, M.B. (2022)
Bouveret, A., M. Haferkorn, G. Marseglia & O. Panzarino (2022)
Carré, S. (2022)
Passadore, J. & Y. Xu (2022)
Dvorkin, M., J.M. Sánchez, H. Sapriza & E. Yurdagul (2022)
Diarra, I., M. Guillard & H. Kempf (2022)
Porter, N., C.E. Tovar Mora, J.P. Trevino, J. Eugster & T. Papamichalis (2022)
Perazzi, E. (2022)
Beers, D., E. Jones, K. McDaniels & Z. Quiviger (2022)
Liu, Y., R. Marimon & A. Wicht (2022)
Bonfim, D., M.A. Ferreira, F. Queiro & S.E. Zhao (2022)
Pierri, D.R. & H. Seoane (2022)
Eichengreen, B., R. Hausmann & U. Panizza (2022)
Albertazzi, U., J. Cimadomo & C. Maffei-Faccioli (2022)
Canofari, P., G. Di Bartolomeo & M. Messori (2022)
Bhattacharya, R., M. Nkusu & M. Wang (2023)
Chuku, C., P. Samal, J. Saito, D.S. Hakura, M. Chamon, M.D. Cerisola, G. Chabert & J. Zettelmeyer (2023)
Espino, E., J. Kozlowski, F.M. Martin & J.M. Sánchez (2023)
Caputo, R. & F. Ordóñez Jofré (2023)
Beers, D., O. Ndukwe, K. McDaniels & A. Charron (2023)
Cho, D. & D.-E. Rhee (2023)
Lukyanov, G. (2023)
Asonuma, T. & H. Joo (2023)
Accominotti, O., T.N.H. Albers & K. Oosterlinck (2023)
Ayres, J., G. Navarro, J.P. Nicolini & P. Teles (2023)
Smaldone, J. & M.L.J. Wright (2023)
Conesa, J.C. &am[; T.J. Kehoe (2023)
Roch, F. & F. Roldán (2023)
Esquivel, C. & A. Samano (2023)
Esquivel, C. (2023)
Esquivel, C., V. Almeida, T. Kehoe & J-P. Nicolini (2023)
Stefanidis, G. (2024)
Paczos, W. & K. Shakhnov (2024)
Georgarakos, D. & A. Popov (2024)
Ghiaie, H. (2024)
Cho, D. & D-E. Rhee (2024)
Stock Market Crashes
Barlevy, G. & P. Veronesi (2003)
Kapopoulos, P. & F. Siokis (2005)
Lagos, R., G. Rocheteau & P-O. Weill (2007)
Levy, M. (2007)
Frankel, D.M. (2008)
Borensztein, E. & U. Panizza (2008)
Christiano, L., C. Ilut, R. Motto & M. Rostagno (2008)
Barro, R.J. & J.F. Ursua (2009)
Wang, J., G. Meric, Z. Liu & I. Meric (2009)
Backus, D., M. Chernov & I. Martin (2009)
Barunik, J. & M. Vosvrda (2009)
Farmer, R. (2011/12)
Khan, S. & P. Batteau (2011)
Giesecke, K., F.A. Longstaff, S. Schaefer & I. Strebulaev (2012)
Berger, D. & K. Pukthuanthong (2012)
Bacchetta, P. & E. van Wincoop (2012/13)
Beetsma, R. & M. Giuliodori (2012)
Bates, D.S. (2012)
Kim, Y., H. Li & S. Li (2014)
Ranjeeni, K. (2014)
Daniel, K. & T.J. Moskowitz (2014)
Dendramis, Y., G. Kapetanios & E. Tzavalis (2015)
Gissler, S. (2015)
Isaenko, S. (2015)
Ni, X. & W. Zhu (2016)
Diks, C. & J. Wang (2017)
Daniel, K. & T.J. Moskowitz (2016)
Li, X. & K.C. Chan (2016)
Li, X., S.S. Wang & X. Wang (2017)
Andreou, P.C., C. Louca & A.P. Petrou (2017)
Baron, M. & W. Xiong (2017)
Goto, M., K. Nishide & R. Takashima (2017)
Chang, X., Y. Chen & L. Zolotoy (2017)
Hung, S. & Z. Qiao (2017)
Caporin, M., A. Kolokolov & R. Renò (2017)
Assmuth, P. (2017)
Ruenzi, S. & F. Weigert (2018)
Chen, K., L. Vitiello, S. Hyde & S-H. Poon (2018)
Davis, R.A., H. Drees, J. Segers & M. Warchol (2018)
Chabi-Yo, F., S. Ruenzi & F. Weigert (2018)
Yeung, W.H. & C. Lento (2018)
Guerron-Quintana, P.A. & R. Jinnai (2019)
Glasserman, P. & H. Mamaysky (2019)
Dobrynskaya, V. (2019)
Rosati, N., M. Bellia, P.V. Matos & V. Oliveira (2020)
Fan, Y. & H. Fu (2020)
Ruenzi, S., M. Ungeheuer & F. Weigert (2020)
Giglio, S., M. Maggiori, J. Stroebel & S. Utkus (2020)
Caporale, G.M., L.A. Gil-Alana & C. Poza (2020)
Yang, J., J. Lu & C. Xiang (2020)
Kakushadze, Z. (2020)
Ouzan, S. (2020)
Ohdoi, R. (2020)
Ma, X., W. Wang, J. Wu & W. Zhang (2020)
Zhu, S., W. Zhu, X. Pei & X. Cui (2020)
Ahn, D-H., S. Kim & K. Seo (2020)
Kong, D., L. Shi & F. Zhang (2021)
Xu, H-C., W. Zhang, X. Xiong, X. Wang & W-X. Zhou (2021)
Baker, S.R., N. Bloom, S.J. Davis & M.C. Sammon (2021)
Christoffersen, P., B. Feunou, Y. Jeon & C. Ornthanalai (2021)
Rif, A. & S. Utz (2021)
Parnes, D. (2021)
Zainudin, A.D. & A. Mohamad (2021)
Wang, K.T., S. Liu & Y. Wu (2021)
Cheng, F., C. Wang, C. Chiao, S. Yao & Z. Fang (2021)
Hoopes, J. L., P. Langetieg, S. Nagel, D. Reck, J. Slemrod & B.A. Stuart (2022)
He, F., Y. Feng & J. Hao (2022)
Cui, X., A. Sensoy, D.K. Nguyen, S. Yao & Y. Wu (2022)
Xu, W., X. Gao, D. Li, M. Zhuang & S. Yang (2022)
Jagannathan, R., L. Pelizzon, E. Schaumburg, M.G. Sherman & D. Yuferova (2022)
Nguyen, T-T., Y-C. Wu, M-C. Ke & T.L. Liao (2022)
Ben Ammar, I. & S. Hellara (2022)
Chabi-Yo, F., M. Huggenberger & F. Weigert (2022)
Yin, S., T. Chevapatrakul & K. Yao (2022)
Johnson, J.A., M.C. Medeiros & B.S. Paye (2022)
Kroencke, T.A. (2022)
Richardson, G., I. Obaydin & C. Liu (2022)
Lee, S.S. (2023)
Sun, L. (2023)
Erdemlioglu, D., C.J. Neely & X. Yang (2023)
Tzomakas, C., D. Anastasiou, A. Katsafados & S.I. Krokida (2023)
Jin, L., Z. Li, L. Lu & X. Ni (2023)
Yao, J. & Y. Yang (2023)
Kyle, A.S. & A.A. Obizhaeva (2023)
Aragon, G.O. & M.S. Kim (2023)
Niu, Z., R. Demirer, M.T. Suleman, H. Zhang & X. Zhu (2024)
Chen, Y., A. Xingyi & S. Supasanya (2024)
Shruti, R. & M. Thenmozhi (2024)
Das, K.K. & M. Yaghoubi (2024)
Ding, Y., Y. Li, G. Liu &apm; X. Zheng (2024)
Liu, J., J. Ng, D.Y. Tang & R. Zhong (2024)
Twin Crises
Kaminsky, G. & C. Reinhart (1999)
Kindleberger, C.P. & R.Z. Aliber (2005)
Burnside, C., M. Eichenbaum & S. Rebelo (2001)
Glick, R. & M.M. Hutchison (2001)
Flood, R.P. & N.P. Marion (2001)
Feldstein, M. (2002)
Chang, R. & A. Velasco (2002)
Mendoza, E.G. & K.A. Smith (2002)
Hutchison, M. & I. Neuberger (2002)
Bauer, C., B. Herz & V. Karb (2003)
Komulainen, T. & J. Lukkarila (2003)
Dreher, A., B. Herz & V. Karb (2004)
Solomon, R.H. (2004)
SURVEY PAPER
Breuer, J.B. (2004)
Rajan, R.G. (2004)
Goldstein, I. (2005)
Ishihara, Y. (2005)
Goldstein, M. (2005)
Pescatori, A. & A.N.R. Sy (2007)
Dooley, M.P., D. Folkerts-Landau & P.M. Garber (2008/09)
Bleaney, M., S. Bougheas & I. Skamnelos (2008)
Maltritz, D. (2008)
Herz, B. & H. Tong (2008)
Schnabel, I. (2009)
Singh, R. (2009)
Bagliano, F.B. & C. Morana (2009)
Reinhart, C.M. & K.S. Rogoff (2010/11)
Qian, R., C.M. Reinhart & K.S. Rogoff (2010)
Dumitrescu, E-I., B. Candelon, C. Hurlin & F.C. Palm (2011)
Sosa-Padilla, C. (2012/18)
Adler, G. (2012)
Bianchi, J., S. Lizarazo & H. Sapriza (2012)
Babecký, J,, T. Havránek; J. Mateju, M. Rusnák, K. Šmídková & B. Vašícek (2012)
Bindseil, U. & A. Winkler (2013)
Eijffinger, S.C.W. & B. Karatas (2013)
Ritschl, A. & S. Sarferaz (2014)
Lothian, J.R. (2014)
Cheng, J. & M. Dai & F. Dufourt (2014)
König, P., K. Anand & F. Heinemann (2014)
Farhi, E. & J. Tirole (2016)
Bordo, M.D. & C.M. Meissner (2016)
Corneli, F. & E. Tarantino (2016)
Gaballo, G. & A. Zetlin-Jones (2016)
Altavilla, C., M. Pagano & S. Simonelli (2016)
Gruber, A. & M. Kogler (2016)
Della Posta, P. (2016)
Janus, T. & D. Riera-Crichton (2016)
Brunnermeier, M.K., L. Garicano, P.R. Lane, M. Pagano, R. Reis, T. Santos, D. Thesmar, S. Van Nieuwerburgh& D. Vayanos (2016)
Gerling, K., P.A. Medas, T. Poghosyan, J. Farah-Yacoub & Y. Xu (2017/18)
Balteanu, I. & A. Erce (2017)
Brunnermeier, M.K., S. Langfield, M. Pagano, R. Reis, S. Van Nieuwerburgh & D. Vayanos (2017)
Leonello, A. (2017/18)
Caporin, M., G.J. Natvik, F. Ravazzolo & P.S. de Magistris (2017)
Crosignani, M. (2017)
Nikolov, K. & R. Cooper (2018)
Tabarraei, H.R., A. Rouabah & O. Pierrard (2019)
D'Erasmo, P., H.J. Moscoso Boedo, M. Pia Olivero & M. Sangiacomo (2019)
Rojas, L. & D. Thaler (2019)
Mendicino, C., K. Nikolov, J. Rubio-Ramirez & J. Suarez (2019)
Izumi, R. (2020)
Malliaris, A.G. & M. Malliaris (2020)
Eijffinger, S.C.W. & B. Karatas (2020)
Bétin, M. & U. Collodel (2021)
Bales, S. & H-P. Burghof (2021)
He, J. (2022)
Rojas, L.E. & D. Thaler (2023)
Country/Region/Episodal Studies
Visser, H., & J. Wengel (1999)
Corbett, J., G. Irwin & D. Vines (1999)
Noland, M. (2000)
Frankenberg, E., J.P. Smith & D. Thomas (2000)
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Das, D.K. (2000)
Klingebiel, D., R. Kroszner, L. Laeven & P. van Oijen (2001)
Campos, M.I. & Z. Jiménez-Ridruejo (2001)
Kaplan, E. & D. Rodrick (2001)
Dornbusch, R. (2001)
Hood, R. (2001)
Ferri, G., T.S. Kang & I.J. Kim (2001)
Pierre-Olivier, G., R. Valdés & O. Landerretche (2001)
Hewison, K. (2001)
J.B. DeLong & B. Eichengreen (2001)
Castañeda, G. (2001)
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Garegnani, M.L. & H. Ahumada (2001)
Caporale, G., A. Cipollini & P. Demetriades (2001)
Crystal, J.S., B.G. Dages & L.S. Goldberg (2001)
Kibritcioglu, B., B. Kose & G. Ugur (2001)
Thanyalakpark, K. & D. Filson (2001)
Shirai, S. (2001)
Mayer, M. (2001)
Perotti, E. (2001)
Johnson, S. & T. Mitton (2001)
Gödde, I. (2001)
Lipsey, R.E. (2001)
Medvedev, A. & G. Kolodyazhny (2001)
Pastor, G.C. & T. Damjanovic (2001)
Kohli, R. (2001)
Sachs, J.D. & W.T. Woo (2001)
Mullineux, A., V. Murinde & A. Pinijkulviwat (2001)
Greene, J.E. (2002)
Enoch, C.A., A.M. Gulde & D.C. Hardy (2002)
Reynoso, A. (2002)
Grada, C.O. & E.N. White (2002)
Carlson, M. (2002)
Nakamura, L. & C.E.J.M. Zarazaga (2002)
Gallego, F., L. Hernández & K. Schmidt-Hebbel (2002)
Scott, D. (2002)
Hayo, B. & D.C. Shin (2002)
Berlemann, M., K. Hristov & N. Nenovsky (2002)
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Sueppel, R. (2002)
Dahel, R. (2002)
Nitithanprapas, I. & T.D. Willett (2002)
Schnabel, I. (2002)
Schnabel, I. (2002)
Fronti, J., M. Miller & L. Zhang (2002)
Kleimeier, S. & H. Sander (2002)
Auguste, S., K.M.E. Dominguez, H. Kamil & L. Tesar (2002/06)
Wiwattanakantang, Y. & R.K.C. Charumilind (2003)
Cerra, V. & S. Saxena (2003)
Plata, P.A. & M. Schrooten (2003)
Bratsiotis, G.J. & W. Robinson (2003)
Mouratidis, K. & N. Spagnolo (2003)
Berg, A., C. Jarvis, M. Stone & A. Zanello (2003)
Stix, H. (2003)
Perry, G. & L. Servén (2003)
Calvo, G.A., A. Izquierdo & E. Talvi (2003)
Alvarez-Plata, P. & M. Schrooten (2003)
Gurvich, E. & A. Andryakov (2003)
Levy-Yeyati, E., S. Schmukler & N. Van Horen (2003)
Enoch, C., B. Baldwin, O. Frecaut & A. Kovanen (2001)
Brewer III, E., H. Genay, W.C. Hunter & G.G. Kaufman (2003)
Deckle, R. & K.M. Kletzer (2003)
Hernández, L. & P.J. Montiel (2003)
Kehoe, T.J. (2003)
Khusaini, M. (2003)
Okazaki, T. (2003)
Lestano, J.J & H. Kuper (2003)
Zanna, L-F. (2003)
Tamirisa, N.T. (2004)
Jacome H., L.I. (2004)
Graham, C. & S. Sukhtankar (2004)
Ekinci, N.K. & K.A. Erturk (2004)
Stein, J. & G.C. Lim (2004)
Driffield, N., V. Mahambare & S. Pal (2004)
Lukkarila, J. (2004)
Kutan, A.M. & B.G. Sudjana (2004)
Levine, D. & M. Ames (2004)
Da-Rocha, J-M., E.L. Gimenez & F-X. Lores (2004)
Caballero, R.J., K. Cowan & J. Kearns (2004)
Daumont, R., F. Le Gall & F. Leroux (2004)
Hussain, H. & V.K-S. Liew (2004)
Majid, M.Z.A. & M.B. Yusoff (2004)
Pratap, S. & C. Urrutia (2004)
Servén, L., E. Alberola & H. Lopez (2004)
Alvarez-Plata, P. & M. Schrooten (2004)
Detragiache, E. & P. Gupta (2004)
Watkins, K., D. van Dijk & J. Spronk (2004)
Tai, C-S. (2004)
Gong, S-C. T-P. Lee & Y-M. Chen (2004)
Chen, H-J. & H-T. Hsu (2004)
Ronci, M. (2004)
Vattipalli, K. (2004)
Joosten, W. (2004)
Bustelo, P. (2004)
Cook, D. & M.B. Devereux (2004/06)
Fontaine, T. (2005)
Becker, T.I. & A.N.R. Sy (2005)
Lokshin, M.M. & M. Ravallion (2005)
Herrera, S. (2005)
Robert, M.Y. (2005)
Demirgüç-Kunt, A. & E. Detragiache (2005)
Dominguez, K.M.E. & L.L. Tesar (2005)
Ghysels, E. & J. Seon (2005)
Amado, N.A., A.M. Cerro & O. Meloni (2005)
Hayo, B. & A.M. Kutan (2005)
Hoag, C. (2005)
Heid, F., T. Nestmann, N. von Westernhagen & B. Weder
Forsman, M-O. (2005)
Dhillon, A., J. Fronti, S. Ghosal & M.H. Miller (2005)
Marongiu, F. (2005)
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Johnson, S., K. Kochhar, T. Mitton & N.T. Tamirisa (2006)
Ito, T. & K. Sato (2006)
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Abbas, S.M.A. (2006)
Bannier, C.E. (2006)
Wyplosz, C. (2007)
Mandilaras, A. & G. Bird (2007)
Kinkyo, T. (2007)
Gilchrist, S. & J.W. Sim (2007)
Santoso, B. & N.J. Horsewood (2007)
Corden, W.M. (2007)
Yap, J.T. (2007)
Miyajima, H. & Y. Yafeh (2007)
Damar, H.E. (2007)
Francis, B., I. Hasan & C. Pantzalis (2007)
Chiang, T.C., B.N. Jeon & H. Li (2007)
Komulainen, T. (2007)
Prasetyantoko, A. (2007)
Essaadi, E., J. Jouini & W. Khallouli (2007)
Baharumshah, A.Z., T-H. Chan & R. Aggarwal (2007)
Liargovas, P. & D. Dapontas (2007)
Friedman, J. & D. Thomas (2007)
Zhou, Y.S. (2008)
Arena, M. (2008)
Waibel, MN. & L. Liu (2008)
Arellano, C. & N.R. Kocherlakota (2008/14)
Cohen, D. & S. Villemot (2008)
Otsu, K. (2008)
Cohen, B.H. & E.M. Remolona (2008)
Daley, J., K. Matthews & K. Whitfield (2008)
Brunetti, C., C. Scotti, R.S. Mariano & A.H.H. Tan (2008)
Jácome, L.I. (2008)
Edwards, S. (2008)
Li, H., B.N. Jeon, S-Y. Cho & T.C. Chiang (2008)
Arellano, C. (2008)
Alexeev, M. & S. Kim (2008)
Chailloux, A., S. Gray, U.H. Klueh, S. Shimizu & P. Stella (2008)
Coulibaly, B. & J. Millar (2008)
Ozsoz, E., E.W. Rengifo & D. Salvatore (2008)
Aswicahyono, H., D. Narjoko & H. Hill (2008)
Valdes, R.O. (2008)
Hosono, K. (2009)
Mody, A. (2009)
Ziesemer, T. (2009)
Edwards, S. (2009)
Hui, C-H., H. Genberg & T-K. Chung (2009)
Baba, N. & F. Packer (2009)
de Jong, E., W.F.C. Verschoor & R.C.J. Zwinkels (2009)
Baba, N. & F. Packer (2009)
Frank, N. & H. Hesse (2009)
Ramírez, C.D. (2009)
McKibbin, W.J. & A. Stoeckel (2009)
Jagannathan, R., M. Kapoor & E. Schaumburg (2009)
Friedman, J. & N. Schady (2009)
Shimizu, J. & E. Ogawa (2009)
Coffey, N., W.B. Hrung & A. Sarkar (2009)
Weber, S. & C. Wyplosz (2009)
Orlov, A.G. (2009)
Almunia, M., A.S. Benetrix, B. Eichengreen, K.H. O'Rourke & G. Rua (2009)
Stone, M.R., W.C. Walker & Y. Yasui (2009)
Rose, A.K. & M.M. Spiegel (2009)
Rose, A.K. & M.M. Spiegel (2009)
Bartram, S.M. & G.M. Bodnar (2009)
Dwyer, G.P. & P. Tkac (2009)
Melvin, M. & M.P. Taylor (2009)
Fratzscher, M. (2009)
McKibbin, W.J. & W.P. Chanthapun (2009)
Yehoue, E.B. (2009)
Campello, M., J. Graham & C.R. Harvey (2009/10)
Amiti, M. & D.E. Weinstein (2009)
Brousseau, V., A. Chailloux & A. Durré (2009)
Richardson, G. & W. Troost (2009)
Berkmen, P., G. Gelos, R. Rennhack & J.P. Walsh (2009)
Ritschl, A. & S. Sarferaz (2010)
Flandreau, M., N. Gaillard & U. Panizza (2010)
Carvalho Filho, I.E. (2010)
Raddatz, C. (2010)
Aisen, A. & M. Franken (2010)
Ait-Sahalia, Y., J. Andritzky, A. Jobst, S. Nowak & N. Tamirisa (2010)
Berman, N. & P. Martin (2010)
Cetorelli, N. & L.S. Goldberg (2010)
Islam, R. & R. Nallari (2010)
Navaretti, G.B., G. Calzolari, M. Levi & A. Pozzolo (2010)
Pinto, B. & S. Ulatov (2010)
Coudert, V., C. Couharde & V. Mignon (2010/11)
Makochekanwa, A. (2010)
Barrios, S., P. Iversen, M. Lewandowska & R. Setzer (2010)
Boz, E. & E.G. Mendoza (2010/13)
Levchenko, A.A., L.T. Lewis & L.L. Tesar (2010)
Reinhart, C. & V. Reinhart (2010)
Barajas, A., R. Chami, T.F. Cosimano & D. Hakura (2010)
Maggi, B., E. Cavallaro & M. Mulino (2010)
Beltratti, A. & R.M. Stulz (2010)
Siregar, R., V. Pontines & N. Mohd Hussain (2010)
Ivashina, V. & D. Scharfstein (2010)
Longstaff, F.A. (2010)
Acharya, V.V. & P. Schnabl (2010)
Pihlman, J. & H. van der Hoorn (2010)
Wang, J. & J. Whalley (2010)
Rose, A.K. & M. Spiegel (2010/11)
Dötz, N. & C. Fischer (2010)
Ritschl, A. & S. Salferaz (2010)
Chor, D. & K. Manova (2010)
Lane, P.R. & G.M. Milesi-Ferretti (2010)
Freedman, C., M. Kumhof, D. Laxton, D. Muir & S. Mursula (2010)
Manconi, A., M. Massa & A. Yasuda (2010)
Haddad, H., A. Harrison & C. Hausman (2010)
Bandiera, L., J.C. Cuaresma & G.A. Vincelette (2010)
Maltritz, D. (2010)
Tsangarides, C.G. (2010/12)
Phelps, E.S. (2010)
Stiglitz, S.E. (2010)
Blanchard, O. (2010)
Salvatore, D. (2010)
Khandani, A.E. & A.W. Lo (2010)
Ammer, J., F. Cai & C. Scotti (2010)
Bai, S. & A.V. Mollick (2010)
Wyplosz, C. (2010)
Calomiris, C.W., I. Love & M.S.M. Peria (2010/12)
Demirguc-Kunt, A., E. Detragiache & O. Merrouche (2010)
Nier, E. & O. Merrouche (2010)
Mishkin, F.S. (2010/11)
Bordo, M.D. & J.S. Landon-Lane (2010)
Koutmos, G. & A.D. Martin (2011)
Mian, A., A. Sufi & F. Trebbi (2011)
Dowling, T. & N. Batini (2011)
Moshirian, F. (2011)
Niculcea, I., I. Asmundson, T.W. Dorsey, A. Khachatryan & M. Saito (2011)
Berg, A., C. Papageorgiou, C.A. Pattillo, M. Schindler, N. Spatafora, & H. Weisfeld (2011)
de Broeck, M. & A. Guscina (2011)
Pennings, S., A. Ramayandi & H.C. Tang (2011)
Reinhart, V. (2011)
Lane, P.R. (2011)
Hadad, M.D., A. Agusman, G.S. Monroe, D. Gasbarro & J.K. Zumwalt (2011)
Fukuda, S-I. (2011)
Gopinath, G. & B. Neiman (2011/14)
Gerlach, S. (2011)
Didier, T., C. Hevia & S.L. Schmukler (2011/13)
Ree, J.J. (2011)
Dietrich, A. & G. Wanzenried (2011)
Cornett, M.M., J.J. McNutt, P.E. Strahan & H. Tehranian (2011)
Benzoni, L., P. Collin-Dufresne & R.S. Goldstein (2011)
Di Bella, G. (2011)
Dufrénot, G., V. Mignon & A. Péguin-Feissolle (2011)
Alfaro, L. & M. Chen (2011)
Kumiega, A., T. Neururer & B. Van Vliet (2011)
Leora, K. & I. Love (2011)
Esaka, T. (2011)
Allen, W.A. & R. Moessner (2011)
Coulibaly, B. & J. Millar (2011)
Gourinchas, P-O., H. Rey & K. Truempler (2011)
Lane, P.R. & G.M. Milesi-Ferretti (2011)
Catte, P., P. Cova, P. Pagano & I. Visco (2011)
Bagliano, F.C. & C. Morana (2011)
Mody, A. & D. Sandri (2011)
Furceri, D. & A. Zdzienicka (2011/12)
Wang, P. & T. Moore (2011)
Dick-Nielsen, J., P. Feldhütter & D. Lando (2012)
Birru, J. & S. Figlewski (2012)
Carlson, M., K.J. Mitchener & G. Richardson (2011)
Gefang, D., G. Koop & S.M. Potter (2011)
Alper, C.E., L. Forni & M. Gerard (2012)
Kim, Y.J., L. Tesar & J. Zhang (2011/15)
Das, S. & A.N.R. Sy (2011)
Düwel, C., R. Frey & A. Lipponer (2011)
Pratap, S. & E. Quintin (2011)
Bottazzi, J-M., J. Luque, M.R. Pascoa & S. Sundaresan (2011)
Arduini, T., G. De Arcangelis & C.L. Del Bello (2011/12)
Accominotti, O. (2011)
Kehoe, T. & J.C. Conesa (2011)
Kamin, S.B. & L.P. DeMarco (2012)
Berkmen, S.P., G. Gelos, R. Rennhack & J.P. Walsh (2012)
Connor, G., T. Flavin & B. O’Kelly (2012)
Enderlein, H., C. Trebesch & L. von Daniels (2012)
Vázquez, F.F. & P. Federico (2012/15)
Siokis, F.M. (2012)
Mun, M. & R. Brooks (2012)
Byrd, J., D.R. Fraser, D.S. Lee & S. Tartarogl (2012)
Gibson, H.D., S.G. Hall & G.S. Tavlas (2012)
Beirne, J. (2012)
Cetorelli, N. & L.S. Goldberg (2012)
Chernenko, S. & A. Sunderam (2012)
Rose, A.K. (2012)
Acosta-González, E., F. Fernández-Rodríguez & S. Sosvilla-Rivero (2012)
Chevallier, J. (2012)
Manconia, A., M. Massa & A. Yasuda (2012)
Jorra, M. (2012)
Adams-Kane, J., Y. Jia & J.J. Lim (2012)
Francis, B.B., I. Hasan & Q. Wu (2012)
Aizenman, J., Y. Jinjarak, M. Lee & D. Park (2012)
Beltratti, A. & R.M. Stulz (2012)
Driessen, J. & O. Van Hemert (2012)
Dagher, J. & K. Kazimov (2012/15)
Chan-Lau, J.A., E.X. Liu & J.M. Schmittmann (2012)
Ji, P.I. (2012)
Cornand, C. & C. Gimet (2012)
Lane, P.R. (2012)
Berman, N., J. de Sousa, P. Martin & T. Mayer (2012)
Das, U.S., M.G. Papaioannou & C. Trebesch (2012)
Boyarchenko, N. (2012)
Radde, S. (2012)
Gorton, G.B. (2012)
Liu, C. & P. Minford (2012/14)
Nagayasu, J. (2012)
Cabral, R. (2012)
Kim, B-H., H. Kim & B-S. Lee (2012)
Abbassi, P. & T. Linzert (2012)
Lopes, J.M. & L.C. Nunes (2012)
Medina, L. (2012)
Boysen-Hogrefe, J. (2012)
Radde, S. (2012)
Anginer, D., A. Demirguc-Kunt & M. Zhu (2012/14)
Alter, A. & Y.S. Schüler (2012)
Gadea Rivas, M.D. & G. Pérez-Quirós (2012)
Olson, E., S. Miller & M.E. Wohar (2012)
Alfaro, L. & M.X. Chen (2012)
Fratianni, M. & F. Marchionne (2012)
Adrian, T., P. Colla & H.S. Shin (2012)
Tintchev, K. (2013)
Schaub, N. & M. Schmid (2013)
Mählmann, T. (2013)
Abreu, J.F. & M.A. Gulamhussen (2013)
Vermeulen, R. (2013)
Anand, A., P. Irvine, A. Puckett & K. Venkataraman (2013)
Balli, F., S.A. Basher & H.O. Balli (2013)
Kim, S.T. (2013)
Catão, L.A.V., A. Fostel & R. Rancière (2013)
Garcia-Appendini, E. & J. Montoriol-Garriga (2013)
Berger, A.N. & C.H.S. Bouwman (2013)
Beltratti, A. & G. Paladino (2013)
Kim, B-H. & S. Kim (2013)
Kahle, K.M. & R.M. Stulz (2013)
De Grauwe, P. & Y. Ji (2013)
Aizenman, J., M. Hutchison & Y. Jinjarak (2013)
Mink, M. & J. de Haan (2013)
Arouri, M., F. Jawadi & D.K. Nguyen (2013)
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van Treeck, T. (2013)
Yamamoto, S. (2013)
Antonakakis, N. & K. Vergos (2013)
Hasan, I., K. Jackowicz, O. Kowalewski & L. Kozlowski (2013)
Klapper, L., A. Lusardi & G.A. Panos (2013)
Feldkircher, M., R. Horvath & M. Rusnak (2013)
Aguiar, M. & M. Amador (2013)
Fidrmuc, J. & A. Tichit (2013)
Papaioannou, M.G., J. Park, J. Pihlman & H. van der Hoorn (2013)
Wagner, C. & A. Winkler (2013)
Constâncio, V. (2013)
McKelvey, C., D. Thomas & E. Frankenberg (2013)
Bordo, M. & H. James (2013)
Eichengreen, B., N. Jung, S. Moch & A. Mody (2013)
Whelan, K. (2013)
Gibson, H.D., S.G. Hall & G.S. Tavlas (2013)
Han, R. & M. Melecky (2013)
Adams-Kane, J., J.A. Caballero & J.J. Lim (2013)
Bhanot, K., N. Burns, D. Hunter & M. Williams (2013)
Baer, W. & H.S. Esfahani (2013)
Josifidis, K., J-P. Allegret, C. Gimet & E.B. Pucar (2013)
Godlewski, C.J. (2013)
Nguyen, H. & R. Qian (2013/14)
Ötker-Robe, I. & A.M. Podpiera (2013)
Chen, S. (2013)
Büchel, K. (2013)
van Wincoop, E. & P. Bacchetta (2013/16)
Goedde-Menke, M., T. Langer & A. Pfingsten (2013)
Wang, L. (2013)
Buch, C.M., K. Neugebauer & C. Schröder (2013)
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Al-Saffar, Y., W. Ridinger & S. Whitaker (2013)
Schmidt, T. & L. Zwick (2013)
Kim, S.T. (2014)
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Aboody, D., J.S. Hughes & N.B. Ozel (2014)
Rughoo, A. & N. Sarantis (2014)
Aristei, D. & M. Gallo (2014)
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Lou, W. & X. Yin (2014)
Garratt, R.J., L. Mahadeva & K. Svirydzenka (2014)
Anolli, M., E. Beccalli & P. Molyneux (2014)
Schroth, E., G.A. Suarez & L.A. Taylor (2014)
Alter, A. & A. Beyer (2014)
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Florackis, C., A. Kontonikas & A. Kostakis (2014)
Chang, S-H., S. Contessi & J. Francis (2014)
Agarwal, S., G. Amromin, I. Ben-Davi, S. Chomsisengphet & D.D. Evanoff (2014)
Caprio, G., V. D'Apice, G. Ferri & G.W. Puopolo (2014)
Dimpfl, T. & F.J. Peter (2014)
Lane, P.R. (2014)
Dungey, M. & D. Gajurel (2014)
Klose, J. & B. Weigert (2014)
Egly, P.V. & J. Sun (2014)
Alsakka, R., O. ap Gwilym & T. Nhung Vu (2014)
Gündüz, Y. & O. Kayaelsevier (2014)
Weitzel, U., G. Kling & D. Gerritsen (2014)
Hautcoeur, P-C., A. Riva & E.N. White (2014)
Davison, L.K. & C.D. Ramirez (2014)
Del Brio, E.B., A. Mora-Valencia & J. Perote (2014)
Carpenter, S., S. Demiralp & J. Eisenschmidt (2014)
Hall, R.E. (2014)
Ball, L.M. (2014)
Reichlin, L. (2014)
Gehrig, T. & M. Haas (2014)
Moretti, L. (2014)
Baum, C.F., M. Karpava, D. Schäfer & A. Stephen (2014)
Balduzzi, P., E. Brancati & F. Schiantarelli (2014)
Koijen, R.S.J. & M. Yogo (2014)
Sim, J., R. Schoenle, E. Zakrajsek & S. Gilchrist (2014/17)
Cornand, C., P. Gandré & C. Gimet (2014)
Chen, G. & Y. Wu (2014)
Baum, C., M. Karpava, D. Schäfer & A. Stephan (2014)
Reinhart, C.M. & C. Trebesch (2014)
Claessens, S. & N. van Horen (2014)
Alexandre, H., K. Bouaiss & C. Refait-Alexandre (2014)
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Anginer, D., E. Cerutti & M.S. Martínez Pería (2014)
Desbordes, R. & S-J. Wei (2014)
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