Marco Macchiavelli and Luke Pettit | We document several effects of the Liquidity Coverage Ratio (LCR) rule on dealers' financing and intermediation of securities. For identification, we exploit the fact that the US implementation is more stringent tha...
The increasing use of cloud computing services for core functions brings undoubted benefits to the insurance sector. However, these services also pose unique risks, given the shared use of computing resources; the sensitivity of the data involved; the ...
The increasing use of cloud computing services for core functions brings undoubted benefits to the insurance sector. However, these services also pose unique risks, given the shared use of computing resources; the sensitivity of the data involved; the ...
Summary Focus We propose a new approach to categorising the information contained in various forms of central bank communication (such as monetary policy decision statements, press conferences and minutes). Looking at how bond yields and equity retur...
Summary Focus We propose a new approach to categorising the information contained in various forms of central bank communication (such as monetary policy decision statements, press conferences and minutes). Looking at how bond yields and equity retur...
The Basel Committee on Banking Supervision today published the report. It identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. Based on analysis of authorities' resp...
The Basel Committee on Banking Supervision today published the report. It identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions. Based on analysis of authorities' resp...
Summary Focus International capital flows can have a significant impact on macroeconomic outcomes. Thus, understanding their properties and drivers is of crucial importance. A number of studies have examined aggregate capital flows from various angle...
Summary Focus International capital flows can have a significant impact on macroeconomic outcomes. Thus, understanding their properties and drivers is of crucial importance. A number of studies have examined aggregate capital flows from various angle...
Timothy S. Hills, Taisuke Nakata, and Takeki Sunakawa | This paper characterizes optimal commitment policy in the New Keynesian model using a novel recursive formulation of the central bank's infinite horizon optimization problem. In our recursive form...