We provide a simple framework to study the prudential use of capital controls and currency reserves that have been explored in the recent literature. We cover the role of both …
Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using …
We use a new dataset on macroprudential FX regulations to evaluate their effectiveness and unintended consequences. Our results support the predictions of a model in which banks …
This dissertation identifies the effects of regulatory reforms on economic outcomes with a strong focus on real effects. In the first chapter, we analyze the effect of leverage ratio …