 | Debt Mutualization in the Euro Area: A Quantitative Exploration Author/Editor: Sakai Ando, Giovanni Dell'Ariccia, Pierre-Olivier Gourinchas, Guido Lorenzoni, Adrian Peralta, Francisco Roch. Release Date:March, 2023 This paper explores the feasibility of an idea proposed first by the German Council of Economic Experts in 2011 and revisited by Italian and French authorities in 2021: the one-off mutualization of more...
| Price: $20.00
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 | Monetary Finance Author/Editor: Itai Agur, Damien Capelle, Giovanni Dell'Ariccia, Damiano Sandri. Release Date:January, 2022 This paper reviews the theoretical arguments in favor and against MF and presents an empirical assessment of the risks that it may pose for inflation. more...
| Price: $20.00
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| Discerning Good from Bad Credit Booms : The Role of Construction Author/Editor: Giovanni Dell'Ariccia, Ehsan Ebrahimy, Deniz O Igan, Damien Puy. Release Date:February, 2020 Credit booms are a focal point for policymakers and scholars of financial crises. Yet our understanding of how the real sector behaves during booms, and why some booms may go bad, is limited. Despite more...
| Price: $10.00
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| Designing Central Bank Digital Currencies Author/Editor: Itai Agur, Anil Ari, Giovanni Dell'Ariccia. Release Date:November, 2019 We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their preferences over anonymity and security; more...
| Price: $18.00
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| The Long Shadow of the Global Financial Crisis: Public Interventions in the Financial Sector Author/Editor: Deniz O Igan, Hala Moussawi, Alexander F Tieman, Aleksandra Zdzienicka, Giovanni Dell'Ariccia, Paolo Mauro. Release Date:July, 2019 We track direct public interventions and public holdings in 1,114 financial institutions over the period 2007–17 in 37 countries based on publicly available information. We use aggregate official more...
| Price: $18.00
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| Managing the Sovereign-Bank Nexus Author/Editor: Giovanni Dell'Ariccia, Caio Ferreira, Nigel Jenkinson, Luc Laeven, Alberto Martin, Camelia Minoiu, Alex Popov. Release Date:September, 2018 This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent more...
| Price: $20.00
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| Revisiting the Economic Case for Fiscal Union in the Euro Area Author/Editor: Helge Berger, Giovanni Dell'Ariccia, Maurice Obstfeld. Release Date:February, 2018 The paper makes an analytical contribution to the revived discussion about the euro area’s institutional setup. After significant progress during the euro crisis, the drive to complete Europe’s more...
| Price: $20.00
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| Bank Lending in the Knowledge Economy Author/Editor: Giovanni Dell'Ariccia, Dalida Kadyrzhanova, Camelia Minoiu, Lev Ratnovski. Release Date:November, 2017 We study bank portfolio allocations during the transition of the real sector to a knowledge
economy in which firms use less tangible capital and invest more in intangible assets. We
show more...
| Price: $18.00
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| Supervisory Incentives in a Banking Union Author/Editor: Elena Carletti, Giovanni Dell'Ariccia, Robert Marquez. Release Date:September, 2016 We explore the behavior of supervisors when a centralized agency has full power over all
decisions regarding banks, but relies on local supervisors to collect the information necessary
to more...
| Price: $18.00
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| Benefits and Costs of Bank Capital Author/Editor: Jihad Dagher, Giovanni Dell'Ariccia, Luc Laeven, Lev Ratnovski, Hui Tong. Release Date:March, 2016 The appropriate level of bank capital and, more generally, a bank’s capacity to absorb losses, has been at the core of the post-crisis policy debate. This paper contributes to the debate by more...
| Price: $10.00
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