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The Case for a Normatively Charged Approach to Regulating Shadow Banking - Multipolar Regulatory Dialogues as a Means to Detect Tail Risks and Preclude Regulatory Arbitrage
(2020-02-11)
This paper contributes to the debate on the adequate regulatory treatment of non-bank financial intermediation (NBFI). It proposes an avenue for regulators to keep regulatory arbitrage under control and preserve sufficient ...
Spillovers of Funding Dry-ups
(2020-08-29)
We uncover a new channel for spillovers of funding dry-ups. The 2016 US money market fund (MMF) reform exogenously reduced unsecured MMF funding for some banks. We use novel data to trace those banks to a platform for ...
The Impact of Job Referrals on Employment Outcomes in Top Corporate Positions
(2020-03-01)
Using an original dataset on professional networks of directors sitting on the boards of large US corporations, we examine how personal relationships are used by firms to improve job match quality in the high-skill segment ...
EU Agencies in Banking and Energy Between Institutional and Policy Centralisation
(2020-05-28)
This working paper suggests to analyse agencification as a double process of institutional and policy centralisation. To that end, it develops a categorisation of agencies that incorporates these two dimensions. More ...
Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges
(2020-07-08)
This paper examines banks’ disclosures and loss recognition in the financial crisis and identifies several core issues for the link between accounting and financial stability. Our analysis suggests that, going into the ...
An Extensible Model for Historical Financial Data with an Application to German Company and Stock Market Data
(2021-01-22)
Broad, long-term financial and economic datasets are a scarce resource, in particular in the European context. In this paper, we present an approach for an extensible, i.e. adaptable to future changes in technologies and ...
Supranational Rules, National Discretion: Increasing Versus Inflating Regulatory Bank Capital?
(2021-02-16)
We study how higher capital requirements introduced at the supranational and implemented at the national level affect the regulatory capital of banks across countries. Using the 2011 EBA capital exercise as a quasi-natural ...
Obfuscation and Rational Inattention in Digitalized Markets
(2021-02-05)
This paper studies the behavior of competing firms in a duopoly with rational inattentive consumers. Firms play a sequential game in which they decide to obfuscate their individual prices before competing on price. ...
Mirror, Mirror on the Wall: Machine Predictions and Self-Fulfilling Prophecies
(2021-04-20)
We show that disclosing machine predictions to affected parties can trigger self-fulfilling prophecies. In an investment game, we experimentally vary investors’ and recipients’ access to a machine prediction about recipients’ ...
CDS
Common Data Service (CDS) is a database system. this database system stores the data in Azure data lake storage (cloud), and you can work with it through a management portal. CDS is a free database if you are using Power ...