This paper provides an introduction to the new economics of prudential capital controls in
emerging economies. This literature is based on the notion that there are externalities …

This paper explores a how the financial uncertainty generated by volatile international
capital flows interacts with maturity mismatch on the balance sheets of nonfinancial firms to …

This paper provides an introduction to the new economics of prudential capital controls in
emerging economies. This literature is based on the notion that there are externalities …

We quantify the gains from regulating maturity transformation in a model of banks that
finance long-term assets with nontradable debt. Banks choose the amount and maturity of …

Banks individually optimize their liquidity risk management, often neglecting the externalities
generated by their choices on the overall risk of the financial system. This is the main …

This article develops a stylized New Keynesian Dynamic Stochastic General Equilibrium
model and explores the function of the repayment and maturity structure of corporate debt in …

We quantify the gains from regulating banks' maturity transformation in an infinite horizon
model of banks which finance long-term assets with non-tradable debt. Banks choose the …

Can capital flow management measures (CFMs) reduce external vulnerability of the
economy? This paper studies the effectiveness of a macroprudential stability levy introduced …

This paper studies the role of debt maturity for small open economies subject to endogenous
financial crises. It uses an off-the-shelf two-sector DSGE model featuring collateral …

Modern macroeconomy experienced recurrent financial crises followed by protracted
periods of debt overhang and slow recovery. This paper proposes a tractable dynamic …