The objective of this paper is to examine the absolute and risk-adjusted effects on distribution rates and total wealth created by adding loss-limiting trend following strategies to buy and hold portfolios. Using 150 years of equity and bond data, we found that applying trend following to...

Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...

This paper contributes to the literature on moral hazard, lending of last resort and the political origins of banking crises. Drawing on newly accessed quantitative and qualitative archival sources the paper documents how a bank-Banco de Cataluña-formed a coalition with the Dictatorship of...

Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...

Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...

What shapes and drives capital market development over the long run? In this paper, using the asset portfolios of UK life assurers, we examine the role of regulation, historical contingency and political reactions to events on the long-run development of the UK capital market. Government...

(1) The fifth edition of the present study contains a further update in full of the institutional and regulatory framework governing the Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF). Its structure has also been revised, since the Sections of previous editions have been...

This article focuses on the operation of supervisory colleges after implementation of the first pillar of the European Union's Banking Union -- the Single Supervisory Mechanism. The article concludes that the operation of supervisory colleges for cross-border banks, particularly those that...

Even though the primary function of deposit guarantee schemes (DGSs) is to serve as ‘paybox' for bank depositors, provide protection to retail depositors, act as a buffer in the event of a banking crisis and contribute to safeguarding the stability of the banking system, DGSs' financial means...