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We model an economy in which domestic banks and firms face incentive constraints, as in Holmstrom...

Banks will want to influence the bank regulator to favor their interests, and they typically have...

We introduce local and foreign investors in a simple model of speculative attacks. Local...

Improving the effectiveness of financial assistance programs is a priority of international...

Until the recent financial crisis, the safety and soundness of financial institutions was...

Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result...