Haku

We study the effects on credit allocation and bank stability of introducing a leverage ratio requirement (LRR) on top of risk-based capital requirements, as in Basel III. For the current 3% LRR, both low-risk and high-risk ...

This paper investigates the potential effects of stock options on managers investment decisions and therefore on a firm s growth or, alternatively, on its leverage-growth relationship. To structure the analysis addressing ...

We study the design of monetary policy in an economy characterized by staggered wage and price contracts together with limited asset market participation (LAMP). Contrary to previous results, we find that once nominal wage ...

This study utilises payment system data to analyse market participants liquidity usage and to trace interest rates paid on overnight loans. Our aim is to examine how liquidity usage has changed during the years 2006 2/2011 ...