The global financial crisis provides an important testing ground for the financial globalisation
model. We ask three questions. First, did financial globalisation materially contribute to the …

Following recent crises, cross-border capital flows have declined considerably, and many
advanced countries' banks are retrenching. At the same time, banks from emerging and …

This second edition of The Industrial Organization explores the study of the structure of
individual banks, banking markets, and their interactions. The book has the same two key …

We analyse the effects of supranational versus national banking supervision on credit
supply, and its interactions with monetary policy. For identification, we exploit:(i) a new …

We study the consequences for supervisors' and banks' behavior of a “hub-and-spokes”
supervisory system where a centralized agency has authority over banks but relies on local …

We study the resolution of global banks by national regulators. Single-point-of-entry (SPOE)
resolution, where loss-absorbing capital is shared across jurisdictions, is efficient but faces …

This is a case study of how a country nearly reached bankruptcy in March 2013, within five
years of entering the eurozone. The magnitude of the requested assistance is extremely …

Both in the USA and in the Euro area, bank supervision is the joint responsibility of local and
central supervisors. I study a model in which local supervisors do not internalize as many …

The global backlash against tax havens has pushed secrecy-seeking capital to explore
alternative opportunities in non-tax-haven countries and new financial technologies …

Supervision of multinational banks (MNBs) by national supervisors suffers from coordination
failures. We show that supranational supervision solves this problem and decreases the …