Sources of Liquidity Shortages (with Charles Kahn), accepted
Journal of Financial Intermediation
Capital
Gains Taxation and the Cost of Capital: Evidence from Unanticipated
Cross-Border Transfers of Tax Bases (with H. Huizinga and J. Voget), Journal of Financial
Economics
The
Disturbing Interaction between Countercyclical Capital Requirements and
Systemic Risk (with Balint
Horvath), Review of Finance
Securitization and
Economic Activity: The Credit Composition Channel (with Ata Can Bertay
and Di Gong), Journal of Financial
Stability
Supranational Supervision -
How Much and for Whom?, International Journal of Central Banking, 2016
(with Th. Beck)
Why
is Price Discovery in Credit Default Swap Markets News-Specific?, Financial
Management, 2015, Vol 45, 315-340 (with Ian Marsh)
International Taxation and
Cross-Border Banking, American Economic Journals: Economic Policy, 2014, Vol.6, 94-125, (with H. Huizinga
and J. Voget)
Financial
innovation and bank behavior: Evidence from credit markets, Journal Economic Dynamics & Control, 2014, Vol.43, 130-145 (with L. Norden and
C. Silva Buston)
Performance
Evaluation and Financial Market Runs, Review of Finance 2013, Vol. 17,
597-624 (online appendix)
Cross-Border
Banking in Europe and Financial Stability, International
Finance, 2013, Vol.16, 1-22 (with
Dirk Schoenmaker)
Supervising Cross-border Banks: Theory,
Evidence and Policy, Economic Policy, 2013, Vol.28, 5-44 (with Thorsten Beck
and Radomir
Todorov)
The Optimality of Interbank Liquidity
Insurance, Journal of Financial Intermediation, 2013, Vol.22, 177-200 (with
F. Castiglionesi)
A
Market-Based Measure of Credit Quality and Banks' Performance during the
Subprime Crisis, Management Science, 2012, Vol. 58, 1423-1437 (with M. Knaup) (online appendix)
Are
Alternative Currencies a Substitute or a Complement to Fiat Money? Evidence
from Cross-Country Data), International Journal of Community Currency
Research, 2012, Vol.16, p.45 – 56 (with Damjan Pfajfar and Giovanni Sgro)
Who bears the
burden of international taxation? Evidence from cross-border M&As,
Journal of International Economics, Vol. 88, 2012, 186-197 (with H. Huizinga
and J. Voget)
Forward-Looking Tail Risk Exposures
at U.S. Bank Holding Companies, Journal Financial
Services Research, 2012, Vol. 42, 35--54 (with M. Knaup)
Turning
Bagehot on His Head: Lending at Penalty Rates When Banks Can Become Insolvent,
Journal of Money, Credit, and Banking, 2012, Vol. 44, 201-219 (with F.
Castiglionesi)
Systemic
Liquidation Risk and the Diversity-Diversification Trade-Off, Journal of Finance, 2011, Vol. 66,
p. 1141-1175 (online appendix)
Credit
Risk Transfer Activities and Systemic Risk: How Banks Became Less Risky
Individually But Posed Greater Risks to the Financial System at the Same Time, Journal of Banking & Finance,
2010, Vol. 35, p. 1391-1398 (with
Rob Nijskens)
Divestment,
Entrepreneurial Incentives, and the Life Cycle of the Firm, Journal of
Business Finance & Accounting, 2010, Vol. 37, pp. 591-611
Loan Market
Competition and Bank Risk Taking, Journal of Financial Services Research,
2010, Vol. 37, pp. 71-81
In
the Quest of Systemic Externalities: A Review of the Literature, CESifo Economic Studies, 2010, Vol. 56, pp. 96-111
Incentive Constraints and the Pattern of
International Risk Sharing, Journal of International Money and Finance,
2010, Vol. 29, pp. 1206-1225. (with Sylvester Eijffinger)
Diversification at Financial
Institutions and Systemic Crises, Journal of Financial Intermediation, 2010, vol. 19,
pp. 373-386
The Marketability of Bank Assets and Managerial Rents, Journal of Financial Stability, 2009, vol.
5, pp. 272-282 (with Falko Fecht)
Efficient
Asset Allocations in the Banking Sector and Financial Regulation,
International Journal of Central Banking, 2009, Vol. 5, pp. 75-95
Liquidity
Creation and Banking Fragility: Options as a Substitute for Deposits,
Annals of Finance, 2009, Vol.5, 125-129
Credit Derivatives and
Loan Pricing, Journal of Banking & Finance, 2008, Vol.32, 2560-2569
(with Lars Norden)
Efficiency
of Capital Taxation in an Open Economy: Tax Competition versus Tax Exportation,
International Tax and Public Finance, 2008, Vol.15, 637-646 (with
The Homogenization of the
Financial System and Liquidity Crises, Journal of Financial Intermediation,
2008, Vol. 17, 330-356
Financial Development
and the Opacity of Banks, Economics Letters, 2007, Vol. 97, 6-10
International
Risk Sharing and Government Moral Hazard, Open Economies Review, 2007, Vol.
18, 577-598
Aggregate Liquidity
Shortages, Idiosyncratic Liquidity Smoothing and Banking Regulation,
Journal of Financial Stability, 2007, Vol. 3, 18-32
The Liquidity of Bank
Assets and Banking Stability, Journal of Banking & Finance, 2007, Vol.
31, 121-139
Credit Risk Transfer and
Financial Sector Stability, Journal of Financial Stability, 2006, Vol. 2,
173-193 (with Ian Marsh)
The Inefficiency of the
Stock Market under Moral Hazard, Journal of Mathematical Economics, 2006,
Vol. 42, 36-45 (with Riccardo Calcagno)