Welcome to my website. I am a Senior Economist at the Bank of England in the Research Hub. I joined the Bank in Autumn 2014 following the completion of my PhD at the University of Cambridge. I also hold an MPhil from Cambridge and a BSc from the London School of Economics.

This website is used to disseminate my research publicly.

Personal e-mail: saleembahaj@googlemail.com

Working Papers:

Central Bank Swaplines with Ricardo Reis (latest version June 2018)

CEPR Discussion Paper Version (June 2018) CFM Discussion Paper Version (June 2018)


The Forced Safety Effect: How Higher Capital Requirements Can Increase Bank Lending with Frederic Malherbe (latest version June 2018)

Revisions requested at the Journal of Finance

This paper was previously circulated under the title "A Positive Analysis of Bank Behaviour Under Capital Requirements"

CEPR discussion paper version (November 2016)

This is a substantially revised version of our working paper "What determines a Bank's Response to a Change in Capital Requirements" with Jon Bridges and Cian O'Neill.

Bank Underground Post: Making Macroprudential Hay When the Sun Shines


Lending Relationships and the Collateral Channel with Gareth Anderson, Matthieu Chavaz, Angus Foulis and Gabor Pinter (latest version May 2018)

CFM Working Paper version (May 2018)


Home Values and Firm Behaviour with Angus Foulis and Gabor Pinter (latest version April 2018)

CFM Discussion Paper Version (April 2018) BoE Staff Working Paper Version (October 2017)

Online Appendix

This paper was previously circulated under the title "The Residential Collateral Channel".

Bank Underground Post: Home grown financing: How small business owners use their own houses to support investment


Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area (latest version October 2014)

Revisions requested at the Journal of Monetary Economics

CFM discussion paper version (June 2014)

Online appendix

Please contact me to obtain the narrative data set used in this paper.

Work in progress:

Deconstructing the fiscal multiplier with Pontus Rendahl.

The Employment Effects of Monetary Policy: Macro Evidence from Firm-level Data with Angus Foulis, Gabor Pinter and Paolo Surico