“...The collapse of AAA-rated structured finance products in 2007 to 2008 has brought renewed attention to conflicts of interest in credit rating agencies (CRAs)...”

“...We study how relationship lending and transaction lending vary over the business cycle. We develop a model in which relationship banks gather information on...”

“...Excessive credit growth and the emergence of bubbles increase the likelihood of a systemic crisis. While no causality between credit growth and systemic crises...”

“...The current crisis has totally transfigured the world's financial landscape. The lessons we have derived have also transformed our perception of banking risks,...”

“...A lesson of the recent financial crisis is that the interbank market is crucial for banks facing uncertainty regarding their liquidity needs. This article...”

“...We model a systemically important financial institution that is too big (or too interconnected) to fail. Without credible regulation and strong supervision,...”

“...This paper proposes a model of financial markets and corporate finance, with asymmetric information and no taxes, where equity issues, bank debt, and bond...”

“...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...”