This paper studies how financial technology reshapes competition among banks. I exploit quasi-random variation in the exposure to the …
How should monetary policy respond to deteriorating financial conditions? We develop and estimate a dynamic new Keynesian model with …
We provide causal evidence that the market power that global banks hold over domestic US deposits drives their operations abroad. After …
We study cost and sources of debt for companies with poor ESG performance. We find that, while both loan and bond financing are …
We show that FOMC announcement surprises are predicted by preceding ECB monetary policy announcement surprises. Specifically, a 1 p.p. …