Nonbank lenders have been playing an increasing role in supplying debt, especially after
the Great Recession. How important are the distortions in the greater regulation of banks …

We investigate the connections between bank capital regulation and the prevalence of
lightly regulated nonbanks (shadow banks) in the US corporate loan market. For …

This review reexamines from a theoretical perspective the role of monetary and
macroprudential policies in addressing the build-up of risks in the financial system. We …

How does the shadow banking system respond to changes in capital regulation of
commercial banks? We propose a quantitative general equilibrium model with regulated …

We present a model of the relationship between real interest rates, credit spreads, and the
structure and risk of the banking system. Banks intermediate between entrepreneurs and …

This study explores bank screening incentives under credit market competition between
traditional banks and a Fintech startup. The bank screening incentives increase with the cost …

Abstract The Global Financial Crisis fostered the design and adoption of macroprudential
policies throughout the world. This raises important questions for monetary policy. What, if …

This article studies the links between financial stability and the architecture of financial
systems. We review the existing literature and provide organizing frameworks for analyzing …

This paper reviews the theoretical and empirical literature on the impact of bank regulation
on bank lending. It also structures the empirical evidence according to the impact of various …

We exploit the establishment of a supranational supervisor in Europe (the Single
Supervisory Mechanism) to learn how the organizational design of supervisory institutions …