Liquidity production is a central role of banks. When there is a market premium for the production of (socially valuable) liquid financial claims and no...
We consider a model in which the threat of bank liquidations by creditors as well as equity-based compensation incentives both discipline bankers, but...
This Article provides a comprehensive legal analysis of the Federal Reserve’s response to the 2020 economic and financial crisis. First, it examines...
A new wave of financial regulation following the global financial crisis aims to curtail proprietary trading by systemically important financial...Read more
The interaction between household finance and corporate finance may be particularly strong in private firms. First, private firms often face...Read more