Ralf R. Meisenzahl

Principal Economist at the Federal Reserve Board
[my official webpage] [my CV]​
​
Research Interests
​Macroeconomics, Financial Economics, Economic History

Recent Research​

The Rise of Shadow Banking:
Evidence from Capital Regulation

​We study the links between bank capital regulation and the prevalence of nonbanks in the corporate loan market. Using exogenous variation in bank capital, we find that less well capitalized banks sell loan shares and nonbanks fill this void. [link]

Nonbanks, Banks, and Monetary Policy:
​U.S. Loan-Level Evidence since the 1990s
​

We analyze the effects of monetary policy on banks and nonbank credit intermediaries and find that the presence of nonbank lenders significantly weakens the bank lending channel and the bank risk taking channel of monetary policy. [link]

​The contents of this website are my own and should not be interpreted as reflecting the views or policies of the Board of Governors of the Federal Reserve System or its staff.
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