Financial regulation is being rethought. One area where the conventional wisdom is being redrawn is the interaction of banks and capital markets. For years, banks and capital markets have been viewed as competing sources of financing (e.g. Jacklin 1987, Jacklin and Bhattacharya 1988, Diamond 1997, and Allen and Gale 1999 and 2002).
Banks and capital markets: A two-way nexus
Biagio Bossone, 18 December 2010
Banks and capital markets as a coevolving financial system
Fenghua Song, Anjan Thakor, 1 December 2010
At a time when financial regulation is being fundamentally rethought, the optimal configuration of banks and capital markets within a financial system and how each should be regulated have become centre-stage issue. Banks and capital markets are often viewed as competing sources of financing (e.g. Allen and Gale 1997, Boot and Thakor 1997, and Dewatripont and Maskin 1995).
Iceland’s special investigation: The plot thickens
Thorvaldur Gylfason, 30 April 2010
The recently published nine-volume, 2,400-page report from the Icelandic Parliament‘s Special Investigation Commission (SIC, appropriately pronounced sick) is not an attempt at whitewash as many had feared.
Who should decide on emergency liquidity assistance?
Jorge Ponce, 16 January 2010
Many countries are revising their institutions to deal with troubled banks. In the UK, the Labour Party believes that the current arrangement – the Tripartite Standing Committee constituted by the HM Treasury, the Bank of England, and the Financial Services Authority – is the best framework for regulating and supervising financial institutions and wants to strengthen it.
Oil Prices and bank profitability: Evidence from major oil-exporting countries in the Middle East and North Africa
Heiko Hesse, Tigran Poghosyan, 27 October 2009
The recent economic and financial crisis and the sharp fall in oil prices have hit hard many of the oil-exporting countries in the Middle East and North Africa (MENA).
Fiddling with accounting rules is not going to restore the banks to health
Harry Huizinga, Luc Laeven, 7 October 2009
The current global financial crisis has reinvigorated a debate on the effectiveness of the existing accounting and regulatory frameworks for banks. Questions abound, ranging from adequate capitalisation levels of banks to the boundaries of financial regulation (see Financial Stability Forum, 2008).
What explains the cost of remittances?
Thorsten Beck, Maria Soledad Martinez Peria, 28 September 2009
In 2008, remittances to developing countries reached $328 billion dollars, more than twice the amount of official aid and over half of foreign direct investment flows (World Bank, 2009).
Gender and banking: Are women better loan officers?
Thorsten Beck, Patrick Behr, Andre Güttler, 28 August 2009
Does gender matter in banking?
Why are Canadian banks more resilient? And what can we do about risky wholesale funding?
Rocco Huang , Lev Ratnovski, 25 August 2009
During a visit to the London School of Economics last November, HM Queen Elizabeth asked a group of leading economists there: did no one see the banking crisis coming?
Underwriters, rating agencies, and the end of gate-keeping in emerging markets
Marc Flandreau, Norbert Gaillard, Sebastian Nieto-Parra, Juan H. Flores, 21 August 2009
When designing the curriculum for crisis predictors of the future, it may be useful to take stock of the way semi-nonstandard economists already think. Take economic historians for instance. We like to think in terms of counterfactuals; to address questions like “If not this, then what?” Take, for example, the critical issue of rating agencies.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche