The literature on the effectiveness of macroprudential policy tools is still in its infancy and
has so far provided only limited guidance for policy decisions. In recent years, however …

This research assesses the effectiveness of China's green credit policy. We explore whether
firms with better external environmental disclosure and internal green innovation receive …

Recent research has found that monetary policy works in part by influencing the risk
premiums on both traded financial-market securities and intermediated loans. Research has …

Using data from Chinese commercial banks between 2008 and 2017, this paper explores
the effects of bank FinTech on credit risk. We first construct and measure a bank FinTech …

This paper presents the main findings of an International Banking Research Network
initiative examining the interaction between monetary policy and macroprudential policy in …

We examine whether environmental, social and governance (ESG) scores of European
banks impact on their risk‐taking behavior and on bank value. We find that high ESG scores …

We show that negative policy rates affect the supply of bank credit in a novel way. Banks are
reluctant to pass on negative rates to depositors, which increases the funding cost of high …

This lecture argues that the Global Financial Cycle is a challenge for the validity of the
Mundellian trilemma. I present evidence that US monetary policy shocks are transmitted …

There is a global financial cycle in capital flows, asset prices and in credit growth. This cycle
co moves with the VIX, a measure of uncertainty and risk aversion of the markets. Asset …

This paper analyses the effects of the European Central Bank's expanded asset purchase
programme (APP) on yields and on the macroeconomy, and sheds some light on its …