G28

Allen N. Berger · Onesime Epouhe · Raluca A. Roman

This paper examines the effects of the Troubled Asset Relief Program (TARP) and the Paycheck Protection Program (PPP)—two government bailout programs during the Global Financial Crisis and the …

Vitaly M. Bord · Agnes Kovacs · Patrick Moran

Layer 1 — Overview Research Question. Should regulators restrict banks from proactively raising credit card limits using machine-learning algorithms, and if so, how? The paper asks: to what extent are …

Francesco Giovanardi · Matthias Kaldorf

Layer 1 — Overview Research Question This paper asks two related questions about the intersection of climate policy and bank capital regulation. First, can differentiated bank capital requirements — …

Wenhao Li · Ye Li

Crises have cleansing effects—low-quality firms face greater financial shortfalls and invest less than high-quality firms—but public credit support dampens these effects by reducing financing cost …

GEORGE J. BRATSIOTIS · KASUN D. PATHIRAGE

This paper introduces a four-agent estimated New Keynesian DSGE model—comprising banked simple households, underbanked simple households, firm owners, and bank owners—to examine agent-specific and …

Chenyu Shan · Dragon Yongjun Tang · Wenya Wang

Third-party loan guarantees—in which a fee-charging guarantor formally guarantees a bank loan and conducts its own due diligence on the borrower—are present in approximately 10% of Chinese bank loans …

Hubert János Kiss · Alfonso Rosa García · Lukas Voellmy

Layer 1: Overview This paper uses laboratory experiments to evaluate the effectiveness of two liquidity management tools — redemption fees and redemption gates — in reducing runs on money market funds …

José E. Gutiérrez

This paper provides a contract-theoretic rationale for the special liquidity regulation of bank credit lines—a form of lending that has received little attention in the regulatory literature despite …

Benjamin L. Collier · Cameron M. Ellis · Benjamin J. Keys

Layer 1: Overview This paper estimates the shadow cost that consumers assign to pledging their primary residence as collateral, using administrative loan application and performance data from the U.S. …

Xiaoming Li · Zheng Liu · Yuchao Peng · Zhiwei Xu

Layer 1 — Overview Research Question This paper asks how changes in the composition (not the size) of Chinese local government debt influence bank risk-taking, credit allocation between privately …

IVAN LIM · JENS HAGENDORFF · SETH ARMITAGE

Using closures of U.S. bank regulatory offices between 2002 and 2013 as difference-in-differences shocks to the physical proximity between supervisors and the community banks they oversee, the paper …