Russian sanctions: Some questions and answers by Richard Berner, Stephen Cecchetti, Kim Schoenholtz published by VOXEU (3/2022). The sanctions on Russia in response to its invasion of Ukraine are the most powerful and costly punishments imposed on a major economy at least…
Does prolonged monetary policy easing increase financial vulnerability? by Stephen Cecchetti, Tommaso Mancini-Griffoli, and Machiko Narita published by IMF (2/2017). “…We find that the leverage ratio, as well as other measures of firm-level vulnerability, increases for banks and nonbanks…