Macroprudential policy with capital buffers BIS (2019-02-26)
This paper studies optimal bank capital requirements in a model of endogenous bank funding conditions. I find that requirements should be higher during good times such that a macroprudential "buffer" is provided. However .. more |
Money and Central Bank Digital Currency ADBI (2019-02-26)
Digital coins have attracted considerable attention globally because of their potential to serve as a new type of payment tool. Money is a financial instrument that fulfills the basic functions as a medium of exchang .. more |
Monetary policy transmission to mortgages in a negative interest rate environment ECB (2019-02-26)
Do negative policy rates hinder banks’ transmission of monetary policy? To answer this question, we examine the behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, ban .. more |