We propose a dynamic framework which encompasses the main risks in balance sheets of banks in an integrated fashion. Our contributions are fourfold: (1) solving a simple one-period model that describes the optimal bank policy under credit risk; (2) estimating the long-term stochastic processes underlying the risk factors in the balance sheet, taking into account the credit and interest rate cyc...

A method for the preparation of HeLa cell plasma membrane ghosts is described. The purity of the plasma membrane fraction was examined by phase contrast and electron microscopy, by chemical analysis, and by assay of marker enzymes. Data on the composition of the plasma membrane fraction are given. It was observed that the distribution pattern of 5'-nucleotidase activity among the subcellular fr...

We use variation in banks' loan exposure to industries adversely affected by the oil price declines of 2014 explore how they respond a net worth shock. Using granular data obtained under Fed's stress testing programs we show that exposed banks tightened credit on corporate lending and mortgages would ultimately hold their balance sheet. However, expanded for be securitized, particularly those a...

This paper studies money demand in Switzerland under free banking before the establishment of the Swiss National Bank. We find that, in addition to income, the banks’ balance-sheet-to-GDP ratio and the number of banks were important determinants of long-run money demand. The former variable also played an important role in the monetary adjustment process. We also detect a strong positive long-r...