Conference Paper
Jackson Hole 2023 - Structural Changes in Financial Markets and the Conduct of Monetary Policy
Duffie, Darrell; Stein, Jeremy C. (2023-08-24)
Proceedings - Economic Policy Symposium - Jackson Hole

Speech
Comments on \"Market Tantrums and Monetary Policy\": a speech at the 2014 U.S. Monetary Policy Forum, New York, New York, February 28, 2014
Stein, Jeremy C. (2014-02-28)
Speech , Paper 794

Conference Paper
Banks as liquidity providers: an explanation for the co-existence of lending and deposit-taking
Rajan, Raghuram G.; Kashyap, Anil K.; Stein, Jeremy C. (1998)
Proceedings , Paper 582

Speech
Challenges for Monetary Policy Communication : a speech at the Money Marketeers of New York University, New York, New York, May 6, 2014
Stein, Jeremy C. (2014-05-06)
Speech , Paper 805

Journal Article
The role of banks in monetary policy: a survey with implications for the European Monetary Union
Stein, Jeremy C.; Kashyap, Anil K. (1997-09)
This article begins with a review of the growing literature on the role of banks in the transmission of monetary policy. The authors then discuss the implications of this literature for the operation of monetary policy in the European monetary union.
Economic Perspectives , Volume 22 , Issue Sep

Conference Paper
Does function follow organizational form? evidence from the lending practices of large and small banks
Petersen, Mitchell A.; Rajan, Raghuram G.; Stein, Jeremy C.; Miller, Nathan H.; Berger, Allen N. (2002)
Proceedings , Paper 815

Journal Article
Does bank capital matter for monetary transmission? commentary
Stein, Jeremy C. (2002-05)
Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission
Economic Policy Review , Volume 8 , Issue May , Pages 267-270

Journal Article
Commentary on \\"Rebalancing the three pillars of Basel II.\\"
Stein, Jeremy C. (2004-09)
This paper was part of the conference "Beyond Pillar 3 in International Banking Regulation: Disclosure and Market Discipline of Financial Firms," cosponsored by the Federal Reserve Bank of New York and the Jerome A. Chazen Institute of International Business at Columbia Business School, October 2-3, 2003.
Economic Policy Review , Issue Sep , Pages 27-30

Working Paper
Dollar funding and the lending behavior of global banks
Scharfstein, David; Ivashina, Victoria; Stein, Jeremy C. (2012)
A large share of dollar-denominated lending is done by non-U.S. banks, particularly European banks. We present a model in which such banks cut dollar lending more than euro lending in response to a shock to their credit quality. Because these banks rely on wholesale dollar funding, while raising more of their euro funding through insured retail deposits, the shock leads to a greater withdrawal of dollar funding. Banks can borrow in euros and swap into dollars to make up for the dollar shortfall, but this may lead to violations of covered interest parity (CIP) when there is limited capital to ...
Finance and Economics Discussion Series , Paper 2012-74

Working Paper
Monetary policy and long-term real rates
Stein, Jeremy C.; Hanson, Samuel (2012)
Changes in monetary policy have surprisingly strong effects on forward real rates in the distant future. A 100 basis-point increase in the 2-year nominal yield on an FOMC announcement day is associated with a 42 basis-point increase in the 10-year forward real rate. This finding is at odds with standard macro models based on sticky nominal prices, which imply that monetary policy cannot move real rates over a horizon longer than that over which all prices in the economy can readjust. Rather, the responsiveness of long-term real rates to monetary shocks appears to reflect changes in term ...
Finance and Economics Discussion Series , Paper 2012-46