F. Valencia

Publications19
h-index12
Citations1,074
Highly Influential Citations181
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Systemic Banking Crises Database
The paper presents a comprehensive database on systemic banking crises during 1970–2011. It proposes a methodology to date banking crises based on policy indices, and examines the robustness of this… Expand
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The Use of Blanket Guarantees in Banking Crises
Policymakers often use guarantees on bank liabilities to prevent or contain bank runs during systemic banking crises, but their success has been debated. Using a sample of 42 episodes of banking… Expand
  • 67
  • 9
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The Real Effects of Financial Sector Interventions During Crises
We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large… Expand
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Monetary Policy in the New Normal
The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy,… Expand
  • 66
  • 6
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Financial Crises: Causes, Consequences, and Policy Responses
Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises,… Expand
  • 63
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Banks' Precautionary Capital and Credit Crunches
This paper develops a bank model to study supply-driven contractions in credit or credit crunches. In the model, the bank is affected by financial frictions in raising external funds. These frictions… Expand
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  • 4
  • PDF
Made in Mexico: Energy Reform and Manufacturing Growth
We assess the real effects of a recent opening of the energy sector in Mexico to private investment. We look at one particular channel, which operates through the change in the structure of… Expand
  • 15
  • 3
  • PDF
Financial Crises and Recapitalizations
We develop a dynamic stochastic general equilibrium model with financial frictions on both financial intermediaries and goods-producing firms. Since financial intermediaries are highly leveraged, we… Expand
  • 26
  • 3
Bank Capital and Uncertainty
An important role for bank capital is that of a buffer against unexpected losses. As uncertainty about these losses increases, the theory predicts an increase in the optimal level of bank capital.… Expand
  • 24
  • 1
  • PDF
Aggregate Uncertainty and the Supply of Credit
This paper presents a model in which a bank can exhibit self-insurance with loan supply contracting when uncertainty increases. This prediction is tested with U.S. commercial banks, where… Expand
  • 22
  • 1