 | Central Bank Independence and Macro-prudential Regulation Author/Editor: Kenichi Ueda, Fabian Valencia. Release Date:April, 2012 We consider the optimality of various institutional arrangements for agencies that conduct macro-prudential regulation and monetary policy. When a central bank is in charge of price and financial more...
| Price: $18.00
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| Balance-Sheet Shocks and Recapitalizations Author/Editor: Damiano Sandri, Fabian Valencia. Release Date:March, 2012 We develop a dynamic stochastic general equilibrium model with financial frictions on both financial intermediaries and goods-producing firms. In this context, due to high leverage of financial more...
| Price: $18.00
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 | Monetary Policy, Bank Leverage, and Financial Stability Author/Editor: Fabian Valencia. Release Date:October, 2011 This paper develops a model to assess how monetary policy rates affect bank risk-taking. In the model, a reduction in the risk-free rate increases lending profitability by reducing funding costs and more...
| Price: $18.00
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 | Crisis Management and Resolution : Early Lessons from the Financial Crisis Author/Editor: Ceyla Pazarbasioglu, Luc Laeven, Oana M Croitoru, Stijn Claessens, Fabian Valencia, Marc C Dobler, Katharine Seal. Release Date:March, 2011 Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are more...
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| The Real Effects of Financial Sector Interventions During Crises Author/Editor: Fabian Valencia, Luc Laeven. Release Date:March, 2011 We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large more...
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| Bank Capital and Uncertainty Author/Editor: Fabian Valencia. Release Date:September, 2010 An important role for bank capital is that of a buffer against unexpected losses. As uncertainty about these losses increases, the theory predicts an increase in the optimal level of bank capital. more...
| Price: $18.00
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| Resolution of Banking Crises : The Good, the Bad, and the Ugly Author/Editor: Luc Laeven, Fabian Valencia. Release Date:June, 2010 This paper presents a new database of systemic banking crises for the period 1970-2009. While there are many commonalities between recent and past crises, both in terms of underlying causes and more...
| Price: $18.00
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| Precautionary Reserves : An Application to Bolivia Author/Editor: Fabian Valencia. Release Date:March, 2010 Using precautionary savings models we compute levels of optimal reserves for Bolivia. Because of Bolivia's reliance on commodity exports and little integration with capital markets, we focus on more...
| Price: $18.00
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| Banks’ Precautionary Capital and Persistent Credit Crunches Author/Editor: Fabian Valencia. Release Date:October, 2008 Periods of banking distress are often followed by sizable and long-lasting contractions in bank credit. They may be explained by a declined demand by financially impaired borrowers (the conventional more...
| Price: $18.00
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| The Use of Blanket Guarantees in Banking Crises Author/Editor: Luc Laeven, Fabian Valencia. Release Date:October, 2008 In episodes of significant banking distress or perceived systemic risk to the financial system, policymakers have often opted for issuing blanket guarantees on bank liabilities to stop or avoid more...
| Price: $18.00
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