bank as leader operating according to the rule by Orphanides and Wieland (2013) implies smaller potential costs due to …

Central bankers express concerns that central bank digital currencies (CBDCs) might disintermediate commercial banks … and facilitate bank runs. We analyze these concerns in a DSGE framework and provide a rationale for the disintermediation … of the banking sector. Our focus is on the central bank's options to counteract the adverse effects of losses in bank …

that eliminates the debt bias in corporate taxation. Such a reform reduces bank leverage. This paper emphasizes a novel …, complementary channel: bank risk taking. We model the portfolio choice of banks under moral hazard and thereby highlight the … deposits, the after-tax returns on different portfolios, and future bank profits. The analysis yields two novel findings: A tax …