Finance and Inequality
The IMF study examines empirical relationships between income inequality and three features of finance: depth, inclusion, and stability. Using new data covering a wide range of countries, the authors find…
papers
Unravelling economic solidarity – a systemic view on risk-sharing in the European banking sector
The policy contribution examines the concepts of economic solidarity and responsibility, with a particular focus on the Banking Union and some of its unresolved crisis management issues. The authors argue…
Macroprudential policy in the EU – policy reflections on institutional contexts and governance arrangements
For macroprudential policy to fulfil its role in curbing systemic risk it needs to manage several challenges relating to its political sensitivity and institutional context. The policy paper discusses these…
Making retail banks resolvable
Many retail banks struggle to comply with the existing EU resolution framework due to their funding model and difficulty to tap capital markets. According to the author, efforts to improve…
Proposal for a single EU professional secrecy standard for the supervision of the financial sector
The policy contribution analyses the professional secrecy standards and accountability of EU financial supervisory authorities according to CRD IV, MiFD II and Solvency II by taking into account the latest…
The vulnerabilities of debt in the shadow banking sector
The shadow banking sector has managed to successfully replicate the functions of the traditional banking sector by creating a variant of demandable debt. However, debt in the shadow banking sector…
A Monitoring Framework for Global Financial Stability
The IMF paper describes the conceptual framework that guides assessments of financial stability risks for multilateral surveillance, as presented in the Global Financial Stability Report. The framework emphasizes consistency in…
Bank lobbying: regulatory capture and beyond
The IMF paper discusses whether and how bank lobbying can lead to regulatory capture and have real consequences. According to the authors, the findings are consistent with regulatory capture. The…
The long shadow of the global financial crisis: public interventions in the financial sector
The IMF paper presents a new dataset on public interventions in the financial sector since the global financial crisis. Through these data, the authors track both gross interventions and recovery…
CoMap: mapping contagion in the euro area banking sector
The IMF paper presents a novel approach to investigate and model the network of euro area banks’ large exposures within the global banking system. It documents the degree of interconnectedness…