Looking forward to be there and present my paper on The Foreign Liability Channel of Bank Capital Requirements Dominik Supera Luigi Falasconi

Excited to share our paper "Systemic Risk and Monetary Policy" published in the July issue of the Review of Financial Studies! Joint work with amazing co-authors: Luc Laeven Dominik Supera Caterina Mendicino 🇪🇺 🇮🇹 ♒ Persistdebt (José-Luis Peydró) academic.oup.com/rfs/article-ab… Society for Financial Studies short🧵below

Excited to see our new paper at the Jackson Hole conference this year! Joint work with Itamar Drechsler Alexi Savov Philipp Schnabl

We have a new paper out for this year’s *Jackson Hole* conference: “Monetary Policy and the Mortgage Market,” with Itamar Drechsler , Philipp Schnabl , and Dominik Supera . Here’s a summary:

Two less-obvious ways the Fed made mortgages pricier trib.al/Tf9hQq6

The combined purchases of MBS by banks and the Fed lowered the mortgage spread by 81 bps from 2019 to 2024, about 1/2 the 2010-19 average spread. Banks were responsible for 43 bps and the Fed for 38 bps. Itamar Drechsler Alexi Savov Philipp Schnabl Dominik Supera edwardconard.com/macro-roundup/…

The latest from Liberty Street Economics Why Are Credit Card Rates So High? By Itamar Drechsler, Hyeyoon Jung, Weiyu Peng, Dominik Supera, and Guanyu Zhou nyfed.org/43Rx4C7

Credit cards account for 70% of retail spending and are a primary source of unsecured borrowing. But their rates are far higher than the rates on any other major type of loan or bond. In today's post, the authors ask: why are credit card rates so high? nyfed.org/43Rx4C7