Syllabus/achievement requirements

@ = available online

* = available in compendium

Microeconomics of banking

* Tirole, J. "Consumer Liquidity Demand" in Tirole, J. The Theory of Corporate Finance, 2006. Princeton, Princeton University Press. ISBN: 9780691125565, chapter 12.

@Holmstrom, B. and Tirole, J. Financial Intermediation, Loanable Funds, and the Real Sector, 1997. Quarterly Journal of Economics, 112(3): pp. 663-691.

@Hellmann, T. F.,Murdoch, K. C. and Stiglitz, J. E. Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?, 2000. The American Economic Review, 90(1): pp. 147-165.

@Diamond, D. W. and Rajan, R. G.Fear of Fire Sales, Illiquidity Seeking, and Credit Freezes, 2011. Quarterly Journal of Economics, 126(2): 557-591.

@Tirole, J. Illiquidity and All Its Friends, 2011. Journal of Economic Literature, 49(2): pp. 287-325.

@Vives, X. Competition and stability in banking, 2010. Center for Economic Policy Research, Policy Insight, 50: pp. 1-21.

@Allen, F. and Gale, D. Competition and financial Stability, 2004. Journal of Money, Credit and Banking, 36(3), pp. 453-480.

Macroeconomics of banking

@Bianchi, J. Overborrowing and systemic externalities in the business cycle, 2011. American Economic Review, 101(7). 3400–3426.

@Brunnermeier, M. K. and Oehmke, M. Bubbles, Financial Crises, And Systemic Risk, 2013. Handbook of the Economics of Finance, 2: pp. 1221-1288.

@Martin, A. and Ventura, J. Theoretical Notes on Bubbles and the Current Crisis, 2011. IMF Economic Review, 59(1), 6-40.

@Rødseth, A. Banks, monetary policy and aggregate demand, 2014 (pdf).

@Bernhardsen, T., and Kloster, A. Liquidity management system: Floor or corridor?, 2010. Norges Bank Staff Memo, 4.

Regulation

*Freixas, X. and Rochet, J. "Regulation of Banks", in Freoxas, X and Rochet, J. Microeconomics of Banking, 2008.Cambridge Massachusetts:  MIT Press. ISBN: 9780262062701, chapter 9 (sections 9.5.3, 9.6 and 9.7 can be skipped).

@Cao, J. and Illing, G. Endogenous Exposure to Systemic Liquidity Risk, 2011. International Journal of Central Banking, 7(2): pp. 173-216.

@Hellmann, T. F., Murdoch, K. C. and Stiglitz, J. E. Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?, 2000. American Economic Review 90(1): pp. 147-165.

@The Fundamental Principles of Financial Regulation; Geneva Reports on the World Economy, CEPR, June 2009 (pdf).

@Borchgrevink, H., Ellingsrud, S. and Hansen, F. Macroprudential regulation - what, why and how?, 2014. Norges Bank Staff Memo (pdf).

Published May 24, 2017 3:21 PM - Last modified May 24, 2017 3:21 PM