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 study credit providers and costs of debt for firms with low ESG performance. First, we find that, while both banks and bondholders …