University of Maryland)

Resumen: We exploit a tightening of anti-money laundering (AML) enforcement that imposed disproportionate costs on small banks to examine the effects of a change in bank composition towards larger banks on real economic outcomes. In response to intensified AML enforcement...

Resumen: Macroeconomic volatility in commodity-exporting economies is closely tied to fluctuations in international commodity prices. This document studies optimal policy for commodity exporters in a small open economy framework that includes a key role for financial conditions...