How do instant payment technologies impact financial intermediation? I use municipality-level data on the development of Pix in Brazil …
How should monetary policy respond to deteriorating financial conditions? We develop and estimate a dynamic new Keynesian model with …
We show that FOMC announcement surprises are predicted by preceding ECB monetary policy announcement surprises. Specifically, a 1 p.p. …
We provide causal evidence that local market power in deposit markets drives international transmission of US monetary policy through …
We study sources of debt for companies with poor ESG performance. Using a structural model of credit risk, we show that for …