We survey the theory of banking regulation from the general perspective of regulatory theory. Starting by considering the different justifications of financial intermediation, we proceed to identify the market failures ...

This paper analyzes the transmission mechanisms of monetary policy in a general equilibrium model of securities markets and banking with asymmetric information. Banks' optimal asset/liability policy is such that in equilibrium ...

In Chapter 1 I investigate the economic importance of correlation in mutual fund flows for funds with overlapping portfolio positions. I illustrate theoretically that commonality in trading by funds due to flow correlation ...

This dissertation consists of two chapters that explore some of the financial stability issues that concern mutual funds. The first chapter demonstrates that the massive sale by US funds of Mexican equity in 2008 triggered ...

El primer capítulo de esta tesis trata de la legislación de los sistemas de pago internacionales de grna valor cuando la supervisión es efectuada por el banco central nacional. El modelo construido se centra en el análisis ...

This paper examines the monetary policy followed during the current financial crisis from the perspective of the theory of the lender of last resort. It is argued that standard monetary policy measures would have failed ...

We provide a microfounded framework for the welfare analysis of macroprudential policy within a model of rational bubbles. For this, we posit an overlapping generation model where productivity and credit supply are subject ...