The recent financial crisis has highlighted the need to go beyond a purely micro approach to
financial regulation and supervision. As a consequence, the number of policy speeches …

We survey research on banks׳ financial accounting. After providing a brief background of the
theoretical models and accounting and regulatory institutions underlying the bank …

We present an economic model of systemic risk in which undercapitalization of the financial
sector as a whole is assumed to harm the real economy, leading to a systemic risk …

The financial crisis has refocused attention on money and credit fluctuations, financial crises,
and policy responses. We study the behavior of money, credit, and macroeconomic …

The global financial crisis has made it painfully clear that powerful psychological forces are
imperiling the wealth of nations today. From blind faith in ever-rising housing prices to …

This paper empirically examines how capital affects a bank's performance (survival and
market share) and how this effect varies across banking crises, market crises, and normal …

We find that shocks to the equity capital ratio of financial intermediaries—Primary Dealer
counterparties of the New York Federal Reserve—possess significant explanatory power for …

The performance and accountability of boards of directors and effectiveness of governance
mechanisms continue to be a matter of concern. Focusing on differences between …

Many observers have argued that the regulatory framework in place prior to the global
financial crisis was deficient because it was largely “microprudential” in nature. A …

This paper investigates the influence of corporate governance on financial firms'
performance during the 2007–2008 financial crisis. Using a unique dataset of 296 financial …