I study how financial technology reshapes competition among banks. I exploit quasi-random variation in exposure to the introduction of …
How should monetary policy respond to evolving financial conditions? To answer this question we develop and Bayesian estimate a dynamic …
We examine the impact of digital payments on the transmission of monetary policy by leveraging administrative data on Brazil’s …
We provide evidence that the market power that global banks hold over domestic US deposits drives their operations abroad. After a …
We show that FOMC announcement surprises are predicted by preceding ECB monetary policy announcement surprises. Specifically, a 1 p.p. …