We develop a model of financial intermediation with remunerated Central Bank Digital Currency (CBDC) as consumers’ alternative to...

Traditionally, fund managers cast votes on behalf of fund investors. Recently, there is a shift towards "pass-through voting,"...

Shocks to a bank’s ability to raise liquidity at short notice can trigger depositor panics. Why don’t banks...

Complexity can create value. At the same time, understanding more complex goods requires more of an agent’s attention....

We study bank capital requirements as a tool to address climate-related financial risks and evaluate whether a prudential...

This paper studies how artificial intelligence (AI) affects the finance labor market when
humans and AI perform different tasks...