The Sovereign-Bank Diabolic Loop and ESBies
Markus K. Brunnermeier, Luis Garicano, Philip Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh, Dimitri Vayanos
NBER Working Paper No. 21993
---- Acknowledgments ----
This paper is a longer version of an article that will appear in the American Economic Review Papers and Proceedings 2016. We thank Sam Langfield, Saverio Simonelli and Jeremy Stein for insightful comments and Yann Koby for excellent research assistance. The views expressed in this paper do not represent the views of the Central Bank of Ireland, the Eurosystem, or the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Markus K. Brunnermeier ----
As a guiding principle I follow the NBER Research Disclosure Policy: https://www.nber.org/researchdisclosurepolicy.html
To date, no single relationship (other than my salary form Princeton University) has accounted for more than 10 percent of my aggregate annual income in that year.
Significant Remunerated Activities:
Speaking engagements and lectures
ECB, ESRB, Bundesbank (Research Council), Bank of Korea (Keynote presentation), Bank of England, National Bank of Austria, Swiss National Bank, Bank of Japan, Federal Reserve, New York Fed, Bank of Canada, Bank of Chile, Bank of Korea
International financial institution
Swiss Finance Institute, 2012-
No expert testimony for law suits or paid consulting work for private cooperation to date.
Sloan Foundation 2011-12
Guggenheim Fellowship, 2010-11
INQUIRE Europe, Research Grant
Visiting Scholar and Other:
Milton Friedman Institute, visiting scholar 2011
American Economic Review, Journal of Finance, Associated Editorship
Significant Non-Compensated Activities:
American Finance Association: Director
Financial Advisory Roundtable and Monetary Policy Panel, Federal Reserve Bank of New York, 2006 – present
INET Advisory Board Member, 2009 – present
---- Disclosure of Financial Relationships for Philip Lane ----
The views in this paper are personal and should not be attributed to the Central Bank of Ireland or the Governing Council of the European Central Bank.
---- Disclosure of Financial Relationships for Ricardo Reis ----
I have been an academic consultant or have given lectures receiving modest financial compensation at many policy institutions over the past 3 years, including the Bank of England, the Central Bank of Brasil, the FRB Minneapolis, the FRB New York, the FRB Richmond, the Norges Bank, and the Swiss National Bank. None of these interfered in any way with my research in this paper.