Welcome to my website. I am a Senior Economist at the Bank of England in the Research Hub. This website is used to disseminate my research publicly.

Personal e-mail: saleembahaj[at]googlemail[dot]com

Working Papers:

The Forced Safety Effect: How Higher Capital Requirements Can Increase Bank Lending with Frederic Malherbe (latest version August 2019)

Revisions requested at the Journal of Finance (2nd round)

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

June 2018 version 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


Employment and the Collateral Channel of Monetary Policy with Angus Foulis, Gabor Pinter and Paolo Surico (latest version July 2019)

CFM Discussion Paper Version (December 2018)


Central Bank Swaplines with Ricardo Reis (latest version June 2019)

BoJ Discussion Paper Version (June 2019)

CEPR Discussion Paper Version (June 2018)

Voxeu post (September 2018)


Home Values and Firm Behaviour with Angus Foulis and Gabor Pinter (latest version April 2019)

Revisions Requested at the American Economic Review

Online Appendix

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

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

Companion paper with a structural model: "The Residential Collateral Channel: A General Equilibrium Analysis"

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


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

BoE Staff Working Paper version (October 2018)

CFM Working Paper version (May 2018)

Publications:

Sovereign Spreads in the Euro Area: Cross Border Transmission and Macroeconomic Implications Forthcoming at the Journal of Monetary Economics

Final Manuscript October 2014 Version CFM discussion paper version (June 2014)

This paper was previously circulated under the title "Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area".

Replication Files


Macroprudential Policy Under Uncertainty with Angus Foulis, International Journal of Central Banking, September 2017, pp. 119-154

Bank of England Staff Working Paper version (January 2016)

Bank Underground Post: Uncertainty is no excuse for not using macroprudential tools

Work in progress:

Deconstructing the fiscal multiplier with Pontus Rendahl.