The risk premium channel and long-term growth ECB (2017-12-12)
We study a quantitative DSGE model linking a state of the art asset pricing framework a la Kung and Schmid (2015) with a constraint on leverage as in Gertler and Kiyotaki (2010). We show that a mere increase in the prob .. more | Banks' maturity transformation: risk, reward, and policy Bank of Italy (2017-12-12)
The aim of this paper is twofold: first, to study the determinants of banks' net interest margin with a particular focus on the role of maturity transformation, using a new measure of maturity mismatch; second, to analys .. more | Push Factors and Capital Flows to Emerging Markets: Why Knowing Your Lender Matters More Than Fundamentals ADB (2017-12-12)
This paper analyzes the behavior of gross capital inflows across 34 emerging markets. Findings suggest that emerging markets need to closely monitor their lenders and investors to assess their inflow exposures to global .. more |
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