This paper studies the change of the Japanese banking sector during the last two decades through the lens of money market risk premia. It makes two...
The European Union has pursued a number of initiatives to create a safer and sounder financial sector for the single market. In parallel, bold...
In March, the Eurosystem started to purchase on the secondary market euro-denominated bonds issued by governments, agencies and European institutions...
Speech given by Dr. Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank at the London School of Economics and Political Science...
Two papers read on the occasion of a Conference in honour of Prof Ben Friedman, held in Frankfurt on June 24, 2015. Their titles are: "Some remarks on...
Financial disasters to hedge funds, bank trading departments and individual speculative traders and investors seem to always occur because of non...
Kalecki explained debt resolution by means of a fable about monetary circulation between mutually indebted individuals. This Note explains the context...
Did Lehman really have to fail? This is one of the least-attended but most critical issues of the first decade and a half of this century. My view is...
It is always dangerous to go against conventional thinking. But I must say that the focus on bank “structural reforms” puzzles me somewhat. So, I will...
This paper analyses the proposition that adjusting structure can strengthen safety and therefore promote stability. It examines six proposals...
This note reviews the evolution of maturity transformation in banking and discuss- es the financial stability implications of its current level...
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...
The global financial crisis that began in 2007 and deepened in 2008 exposed major weaknesses in financial and macroeconomic policy coordination, and...
Remarks by Ignazio Angeloni, Member of the Supervisory Board of the European Central Bank on the occasion of the International conference on “Start of...
Risk and return go hand in hand as companion variables central to the teaching and practice of economics and finance. Standard theory and common sense...
The aim of the study is to analyze the concept of systemic risk. The study reviews a multitude of systemic risk definitions in the literature. In...
