Yan Xiong , Uday Rajan Jan 26,2025
Working Paper No.00148-00
We study a credit market in which lending decisions depend on a borrower's digital profile, and the borrower can manipulate... Read More
Peter Hoffmann,Agnese Leonello,Davide Porcellacchia, Toni Ahnert Feb 24,2025
Working Paper No.00100-04
We develop a model of financial intermediation with remunerated Central Bank Digital Currency (CBDC) as consumers’ alternative to bank deposits... Read More
Rui Albuqerque, Adam Zawadowski Mar 22,2025
Working Paper No.00149-00
A maturity wall occurs in private credit funds when the fund reaches its maturity date, where it can no longer... Read More
Peter Hoffmann,Cyril Monnet, Toni Ahnert Mar 02,2024
Working Paper No.00139-00
We propose a model of financial intermediation, payments choice, and privacy in the digital economy. While digital payments enable merchants to sell... Read More
Denis Gromb (in memoriam) Jean-Edouard Colliard Mar 22,2024
Working Paper No.00065-01
How do resolution frameworks affect the private restructuring of distressed banks? We model a bank’s shareholders and creditors negotiating a... Read More
Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00129-01
We study how information technology (IT) affects lender competition, entrepreneurs’ investment, and welfare in a spatial model. The effects of... Read More
Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00141-00
We study fintech entry and how it affects competition, investment, and welfare in a spatial model. We find that fintechs... Read More
Yuanyu Qu,Guojun Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00144-00
We present the first piece of empirical evidence on blockchain adoption for environmental monitoring. Using a staggered difference-in-difference (DID) framework,... Read More
Satoshi Fukuda, Daniel Neuhann William Fuchs Nov 22,2024
Working Paper No.00145-00
We study the joint design of two prominent micro-prudential policy tools: bank regulation that enforces operational standards via rules,... Read More
Linda Schilling Aug 03,2023
Working Paper No.00123-00
Policy makers have developed different forms of policy intervention for stopping, or preventing runs on financial firms. This paper... Read More