Publications

Reforms following the global financial crisis of 2008 were supposed to create a less risky financial world. But has a one-size-fits all approach to...

The Economic Journal, 133 (649), 201-234

Financial markets, even more than other markets, run on trust. This column uses hand-collected data on banks’ investments in European sovereign debt...

Electricity blackouts caused by Russian rocket attacks on the power grid have become a daily occurrence in Ukraine. This column estimates the economic...

The Review of Financial Studies, 36(7), 2922–2961

Developing a tax system which limits tax evasion is a key challenge for many emerging markets. This column argues that introducing a flat tax as a...

Journal of Finance, 78 (1), 487-557

Journal of Fixed Point Theory and Applications, 25, 2

Journal of Financial Economics 146(3), 1044-1072

Cryptocurrencies have enjoyed a remarkable run from obscurity to a trillion dollar valuation in just over a decade. This column argues, however, that...

Using hand-collected data spanning more than a decade on European banks’ sovereign debt portfolios, we show that the trust of residents of a bank’s...

Many statistical reports in Ukraine have been suspended since the start of Russia’s invasion, including on labour markets. This column uses wage...

Climate change has become a major topic of discussion at central banks and financial regulators. Key aspects of this debate include whether and how...

Global macroprudential and microprudential regulatory changes since 2008 have been designed to make a repeat of a systemic crisis much less likely...