Post-Crisis banking regulation: Evolution of economic thinking as it happened on Vox
This column introduces a new Vox eBook collecting some of the best Vox columns on financial regulations, starting with the fundamentals of financial...
Post-Crisis Banking Regulation: Evolution of economic thinking as it happened on Vox
This eBook collects some of the best Vox columns on financial regulations, starting with the fundamentals of financial regulations, moving on to bank...
Wolf Pack Activism
It is alleged that activist hedge funds congregate around a common target, with one acting as the "lead" activist and others as peripheral activists...
A Tug of War: Overnight Versus Intraday Expected Returns
We decompose the abnormal profits associated with well-known patterns in the cross-section of expected returns into their overnight and intraday...
The Dynamics of Financially Constrained Arbitrage
We develop a model of financially constrained arbitrage, and use it to study the dynamics of arbitrage capital, liquidity, and asset prices...
Europe’s proposed capital markets union: Disruption will drive investment and innovation
The proposed EU capital markets union aims to revitalise Europe’s economy by creating efficient funding channels between providers of loanable funds...
The Dynamics of Financially Constrained Arbitrage
We develop a model of financially constrained arbitrage, and use it to study the dynamics of arbitrage capital, liquidity, and asset prices...
Global Capital Markets, Housing Prices, and Partisan Fiscal Policies
In recent years, global imbalances have channeled the excess savings of surplus countries toward the real estate markets of deficit countries. By...
Information Asymmetries, Volatility, Liquidity and the Tobin Tax
Information asymmetries and trading costs, in a financial market model with dynamic information, generate a self-exciting equilibrium price process...
Multilateral surveillance: Ensuring a focus on key risks to global stability
The 2007/9 crisis and the ongoing transformation of the global economy call for a rethink of the scope of the Fund’s multilateral surveillance. This...
Signalling to Dispersed Shareholders and Corporate Control
The Review of Economic Studies, 82 (3), 922–962.
What the Swiss FX shock says about risk models
The Swiss central bank last week abandoned its euro exchange rate ceiling. This column argues that the fallout from the decision demonstrates the...
Averting financial crisis
Jeffrey Chwieroth and Jon Danielsson discuss the political challenges of the macroprudential agenda in the ESRC's annual flagship magazine Britain in...
Brave New World? Macro Prudential Policy and the new Political Economy of The Federal Reserve
The Financial Crisis that started in 2007 ushered in new responsibilities for central banks, particularly for what is termed “macro-prudential policy...
Great Expectations, Veto Players, and the Changing Politics of Banking Crises
How have the politics of banking crises changed over the long run? Unlike existing static accounts, we offer a dynamic theory emphasizing how the...
The Federal Reserve as Global Lender of Last Resort, 2007-2010
Passage of the Dodd-Frank financial reform bill, in conjunction with a Supreme Court ruling supporting a Freedom of Information Act request, required...
