FIN Seminar/ Webinar – Wolf Wagner

february, 2023

09feb13:0014:00FIN Seminar/ Webinar - Wolf Wagner


Event Details

CEF.UP – FIN Seminar/Webinar

Thursday – February 9th, 2023 at 1:00 p.m. |Room 305| Online


Incomplete supervisory cooperation


Wolf WagnerRotterdam School of Management and CEPR (joint work with Thorsten Beck and Consuelo Silva-Buston)


“Banking supervisors frequently cooperate across countries, but cooperation only imperfectly covers the global operations of large banking groups. We show that this causes significant third-country externalities. Using hand-collected supervisory cooperation data, we document that banking groups shift lending activities and risk into third-country subsidiaries when cooperation agreements cover their operations in other countries. The implied country-level increase in the share of foreign loans is 16%. We also show that countries do not internalize third-country effects when making cooperation decisions, resulting in a 26 percentage point higher propensity to cooperate. Overall, our results highlight a need for “cooperating on cooperation.”




(Thursday) 13:00 - 14:00

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