Elena Carletti - Research



Working papers

“Improving Access to Banking: Evidence from Kenya” (with Franklin Allen, Robert Cull, Jun Qian, Lemma Senbet, and Patricio Valenzuela)

Credit Market Competition and Liquidity Crises” (with Agnese Leonello)

“The Determinants Bank Capital Structure” (with Franklin Allen)

Papers under revision

"Stakeholder Capitalism, Corporate Governance, and Firm Value” (with Franklin Allen and Robert Marquez)

"The Economic Impact of Merger Control Legislation " (with Philipp Hartmann and Steven Ongena)

Referred Publications

“Money, Financial Stability and Efficiency” (with Franklin Allen and Douglas Gale), accepted for publication, Journal of Economic Theory

"Asset Commonality, Debt Maturity and Systemic Risk (with Franklin Allen and Ana Babus), Journal of Financial Economics, 2012, 104(3), 519-534

"Deposit Insurance and Risk Taking" (with Franklin Allen and Agnese Leonello), Oxford Review of Economic Policy, 2011, 27(3), 464-478

“New Theories to Underpin Financial Reform” (with Franklin Allen), Journal of Financial Stability, forthcoming

Credit Market Competition and Capital Regulation” (with Franklin Allen and Robert Marquez), Review of Financial Studies, 2011, 24(4), 983-1018, lead article

An Overview of the Crisis: Causes, Consequences and Solutions” (with Franklin Allen), International Review of Finance, 2010, 10(1), 1–26

"Financial Crises: Theory and Evidence" (with Franklin Allen e Ana Babus), Annual Review of Financial Economics, 2009, 1, 97-116.

“Interbank Market Liquidity and Central Bank Intervention” (with Franklin Allen and Douglas Gale), Journal of Monetary Economics, 2009, 56(5), 639-652.

“Mark-to-Market Accounting and Cash-in-the-Market Pricing” (with Franklin Allen), Journal of Accounting and Economics, 45(2-3), August 2008, 358-378

“Multiple-bank Lending: Diversification and Free-riding in Monitoring” (with Vittoria Cerasi and Sonja Daltung), Journal of Financial Intermediation, 2007, 16, 425-451

 “Bank Mergers, Competition and Liquidity” (with Philipp Hartmann and Giancarlo Spagnolo), Journal of Money, Credit and Banking, 2007, 39(5), 1067-1107

“Credit Risk Transfer and Contagion” (with Franklin Allen), Journal of Monetary Economics, 2006, 53, 89-111

“The Privatization of Italian Savings Banks – A Role for Germany?” (with Hendrik Hakenes and Isabel Schnabel), DIW Quarterly Journal  for Economic Research (Vierteljahrshefte zur Wirtschaftsforschung), 2005, 74, 32-50

“The Structure of Bank Relationships, Endogenous Monitoring and Loan Rates” Journal of Financial Intermediation, 2004, 13, 58-86

Edited books

Life in the Eurozone with or without Sovereign Default?, edited volume, with Franklin Allen and Giancarlo Corsetti, FIC Press, Wharton Financial Institutions Center, 2011

Liquidity and Crises, edited volume, with Franklin Allen, Jan Pieter Krahnen and Marcel Tyrell, Oxford University Press, 2011

Book chapters and other policy publications

“Cross-Border Banking in Europe after the Crisis” (with Franklin Allen, Thorsten Beck, Philip Lane, Dirk Schoenmaker, and Wolf Wagner), CEPR Policy Report, 2011

“Financial Regulation Going Forward” (with Franklin Allen), in Conference Proceedings of the 38th Oesterreichische Nationalbank Economics Conference on “Central Banking after the Crisis: Responsibilities, Strategies and Instruments,”137-156

 “Introduction to Liquidity and Crises,” in F. Allen, E. Carletti, J.P. Krahnen and M. Tyrell (eds.), Liquidity and Crises, Oxford University Press, 2011, 3–32

“Competition, Concentration and Stability in the Banking Sector,” Background paper, in OECD Competition Committee Roundtable, Competition, Concentration and Stability in the Banking Sector, DAF/COMP(2010)9, Paris, 13-37

“The Global Financial Crisis” (with Franklin Allen), in Conference Proceedings of the 13th Annual Bank of Chile Conference on “Monetary Policy under Financial Turbulence,” 2011, 23-47

“Mark-to-Market Accounting in Times of Crisis” (with Franklin Allen), Revue d’Économie Financière, 2010, 100, 201–209

“Regulation and Competition Policy in the Banking Sector” (with Xavier Vives), in X. Vives (ed.), Competition Policy in Europe, Fifty Years of the Treaty of Rome, Oxford University Press, 2009, 260–283

“The Roles of Banks in Financial Systems” (with Franklin Allen), in A. Berger, P. Molyneux, J. Wilson (eds), Oxford Handbook of Banking, Oxford University Press, 2009, 32–57

Competition and Financial Markets,” Background paper, in OECD Competition Committee Roundtable, Competition and Financial Markets, DAF/COMP (2009) 11, Paris, 33–61

“Competition and Regulation in Banking,” in A. Boot and A. Thakor (eds.), Handbook in Financial Intermediation, Elsevier, North Holland, 2008, 449–482

Should Financial Institutions Mark to Market?” (with Franklin Allen), Banque de France Financial Stability Review, 12, October 2008, 1–6

“The Role of Liquidity in Financial Crises” (with Franklin Allen), in Maintaining Stability in a Changing Financial System, 2008 Jackson Hole Conference Proceedings, Federal Reserve Bank of Kansas City, 379–412

“Banks, Markets and Liquidity” (with Franklin Allen), The Structure and Resilience of the Financial System, Reserve Bank of Australia’s 2007 Conference proceedings, 2007, 201–218

“Kapitalregulierung von Banken und Systemische Risiken im Lichte von Basel II” (with Jan Pieter Krahnen), Zeitschrift für das gesamte Kreditwesen, 2007, 8, 374–376

“Cross-border Banking and Competition Policy” (with Philipp Hartmann and Steven Ongena), European Central Bank Research Bulletin, 2006, 4, 7–10

“Bank Competition and the Role of Regulation” (with Franklin Allen and Robert Marquez), in The Art of the Loan in the 21st Century, Producing, Pricing, and the Regulation Credit, Proceedings of the 41st Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 2005, 121–123

“Bank Mergers, Competition and Liquidity” (with Philipp Hartmann and Giancarlo Spagnolo), in Corporate Governance: Implications for Financial Services Firms, Proceeding of the 39th Annual Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, 2003, 89–99

“Competition and Stability: What’s Special about Banking?” (with Philipp Hartmann), in P. Mizen (ed.), Monetary History, Exchanges Rates and Financial Markets: Essays in Honour  of Charles Goodhart, vol. 2, Cheltenham: Edward Elgar, 2003, 202-229

“Implications of the Bank Merger Wave for Competition and Stability” (with Philipp Hartmann and Giancarlo Spagnolo), in Risk Measurement and Systemic Risk, Proceedings of the Third Joint Central Bank Research Conference (Board of Governors of the Federal Reserve System, Bank of Japan, European Central Bank), 2002, 38–50

“Competition, Regulation and Stability” in M. Polo (ed.), Industria Bancaria e Concorrenza, Il Mulino, Bologna, (in Italian), 2000, 67-136

“The Milk Quotas Dilemma: Which Balance between Competition and Efficiency?” (with Daniela Giangiulio), Meridiana (in Italian), 1998, 32