Search Results
Report
Are there "bank effects" in borrowers' costs of funds? Evidence from a matched sample of borrowers and banks
We use a large matched sample of individual loans, borrowers, and banks to investigate whether bank financial health affects terms of lending, holding constant proxies for borrower risk and information costs. In particular, we focus on measuring effects of borrower and bank characteristics on loan interest rates; we also investigate implications of borrower and bank characteristics for indirect measures of credit availability. ; Our principal findings are six. First, even after controlling for proxies for borrower risk and information costs, the cost of borrowing from low-capital banks is ...
Conference Paper
Financial factors in business fluctuations
Conference Paper
Is there a \"credit channel\" for monetary policy?
Conference Paper
Globalization and global disinflation : commentary
Journal Article
Financial regulatory reform: a progress report
The 2007-09 financial and economic crisis was the result of a lack of effective regulation. The author addresses the problems with regulations in effect at the time of the crisis and offers proposals for regulation reform to address future crises. He notes that reforms should be based on solid principles, including reduction of system risk and contagion and increased transparency to promote investor protection. Any new financial regulatory structure must be able to achieve these goals, while acknowledging and managing trade-offs between enhancing accountability and mitigating systemic risk ...
Journal Article
Is there a \\"credit channel\\" for monetary policy?