) little susceptibility to manipulation; (iv) timeliness; (v) scalable from the individual bank to the system. We show how this …

December 2008. The results point to two-way causality between bank and corporate distress and to significant global … advanced economies has a larger impact on economic growth in emerging economies than bank distress in advanced economies has …. In contrast, activity in advanced economies is more vulnerable to bank distress than to corporate distress …

of impaired bank loans. To attract risk capital, impaired loans must find market-clearing prices. However, the asymmetry …

United States, the bond market was buoyant from the end of March onward, but credit supply conditions for bank loans and the …

bank tax, and the U.S. administration has revived its own proposal for such a charge. This paper considers the structure … for taxing bank borrowing, perhaps as an adjunct to minimum capital requirements, at marginal rates that rise quite … higher than those of the bank taxes so far adopted or proposed …