Work in progress
Banking regulation with heterogenous banking systems, with F. Collard, A. Freitag, U. Lewrick
Banking regulations and market liquidity, with F. Collard, U. Lewrick
Macroeconomics of bank capital and liquidity regulations, with F. Collard
A quantitative macro model to study the transmission channels of capital and liquidity regulations, how these regulations interact and whether they have unintended effects. The paper also offers some guidance as to how capital and liquidity regulations should be coordinated.
Material for central bankers: replication and benchmarking with other countries
The collateral composition channel, with R. Cooper
Financial integration overall improves the allocation of world savings, but also entails capital flows from less financially developed to more financially developed countries. When the latter do not have the capacity to absorb those flows, a financial crisis may break-out, and spread internationally.
How an adverse liquidity shock may propagate when firms borrow from and lend to each other, in a trade credit chain. Following the shock, illiquid firms may become insolvent.
An early version of a real business cycle model with Kiyotaki and Moore (1997)’s collateral constraint