Refereed Publications
Taxation and the External Wealth
of Nations: (with Harry
Huizinga, Maximilian
Todtenhaupt and Johannes
Voget), forthcoming Journal of International Money & Finance
Opacity,
liquidity and disclosure requirements (with André Stenzel),
forthcoming Journal of Business Finance & Accounting
The
Economics of Supranational Bank Supervision (with Thorsten Beck and Consuelo Silva-Buston),
forthcoming, Journal of Financial & Quantitative Analysis
Liquidity Provision
During a Pandemic (with Charles
Kahn), forthcoming, Journal of Banking & Finance
Closed for Business (with Dion Bongaerts and Francesco Mazzola),
2021, PlosONE
Sources
of Liquidity Shortages (with Charles Kahn), 2021,
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),
2018, Journal of Financial Economics
The
Disturbing Interaction between Countercyclical Capital Requirements and
Systemic Risk (with
Balint
Horvath), 2017, Review of Finance
Securitization and
Economic Activity The Credit Composition Channel (with Ata Can Bertay and Di Gong), 2017, Journal of Financial
Stability
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 Sylvester Eijffinger)
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)
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