Video: Safety, Liquidity, and Crises (ERC Grant)
Dmitry Kuvshinov is conducting the first systematic study of how safe assets and liquidity contribute to crises and macro-financial risk, using new long-run data for many countries.
Topic Archive: Financial Markets
Not all firms benefit the same from credit guarantees
Alberto Martin, Sergio Mayordomo, and Victoria Vanasco show that private banks have distorted incentives when deciding how to allocate public credit guarantees.
U-Shaped Monetary Policy Increases the Risk of a Banking Crisis
With year-on-year inflation rates reaching 10% in 2022, central banks in Europe and the United States started raising monetary policy rates to ensure price stability. The failure of Silicon Valley Bank (SVB) on March 10, 2023, however, laid bare the financial stability risks from hiking interest rates after a prolonged period of rate cuts. For…
The differential impact of COVID-19 on entrepreneurship
How did COVID-19 affect entrepreneurship and the creation of new businesses? Christoph Albert, Andrea Caggese, Beatriz González, and Victor Martin-Sanchez study the impact of the pandemic and the subsequent recession on new businesses’ dynamics using survey data for Spain.
