Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Books
Mar 2015
This eBook collects some of the best Vox columns on financial regulations, starting with the fundamentals of financial regulations, moving on to bank capital and the Basel regulations, and finishing with the wider considerations of the regulatory...
Discussion Papers
Feb 2015
DP 32
Denis Gromb and Dimitri Vayanos
We develop a model of financially constrained arbitrage, and use it to study the dynamics of arbitrage capital, liquidity, and asset prices. Arbitrageurs exploit price discrepancies between assets traded in segmented markets, and in doing so provide...
Opinion Pieces
Feb 2015
The proposed EU capital markets union aims to revitalise Europe’s economy by creating efficient funding channels between providers of loanable funds and firms best placed to use them. This column argues that a successful union would deliver...
Discussion Papers
Feb 2015
DP 31
Ben W. Ansell and J. Lawrence Broz
In recent years, global imbalances have channeled the excess savings of surplus countries toward the real estate markets of deficit countries. By consequence, the deficit countries that attracted lots of foreign capital experienced large run-ups in...
Special Papers
Jan 2015
SP 7
Malcolm Knight and Guillermo Ortiz
The 2007/9 crisis and the ongoing transformation of the global economy call for a rethink of the scope of the Fund’s multilateral surveillance. This paper first reviews the reforms already undertaken in response to the crisis as a basis for...
Opinion Pieces
Jan 2015
The Swiss central bank last week abandoned its euro exchange rate ceiling. This column argues that the fallout from the decision demonstrates the inherent weaknesses of the regulator-approved standard risk models used in financial institutions....
Opinion Pieces
Jan 2015
Jeffrey Chwieroth and Jon Danielsson discuss the political challenges of the macroprudential agenda in the ESRC's annual flagship magazine Britain in 2015.
Discussion Papers
Jan 2015
DP 30
J. Lawrence Broz
Passage of the Dodd-Frank financial reform bill, in conjunction with a Supreme Court ruling supporting a Freedom of Information Act request, required the Federal Reserve (Fed) to disclose bank-specific information about its emergency lending during...
Discussion Papers
Jan 2015
DP 29
Lucy Goodhart
The Financial Crisis that started in 2007 ushered in new responsibilities for central banks, particularly for what is termed “macro-prudential policy,” or MPP. The goal of this policy is to monitor and contain overall risk in...
Discussion Papers
Jan 2015
DP 28
Jeffrey M Chwieroth and Andrew Walter
How have the politics of banking crises changed over the long run? Unlike existing static accounts, we offer a dynamic theory emphasizing how the emergence of voters’ “great expectations” after the 1930s concerning crisis...

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