Whether it is fair to characterize natural resource wealth as a curse is still debated. Most of
the evidence derives from cross-country analyses, providing cases both for and against a …

We review research on the effects of banks on the real economy, including, but not limited to
articles in this Special Issue of the Journal of Corporate Finance. We focus primarily on US …

Financial technology, commonly called “fintech”, is now a highly used buzzword. Startups
competing with traditional financial services, offering customer-centric services capable of …

This paper studies whether distance shapes credit allocation by estimating the impact of
bank branch closings during the 2000s on local access to credit. To generate plausibly …

We present a new channel for the transmission of monetary policy, the deposits channel. We
show that when the Fed funds rate rises, banks widen the spreads they charge on deposits …

Banks have no time for complacency. They need to re-evaluate their competitive advantages
in light of profound changes driven by advances in information technology (IT) and …

Multi-market banks reallocate capital when local credit demand increases after natural
disasters. Using property damage as an instrument for lending growth, we find credit in …

We estimate a dynamic banking model to quantify the impact of a central bank digital
currency (CBDC) on the banking system. Our counterfactuals show that a one-dollar …

The debate has long prevailed as to whether the financial sectors can enhance energy
efficiency. We attempt to provide new insight into this debate from the perspective of …

The cross-country empirical evidence for the natural resource curse is ample, but
unfortunately fraught with econometric difficulties. A recent wave of studies on measuring the …