1. Climate Transition Risks of Banks  with F. Martini, Z. Sautner and S. Steffen

SFI Research Paper Series N23-66

• Develops a "bottom-up" measure of U.S. banks' exposures to climate transition risks from the carbon footprint of their syndicated loan portfolios.
  
  

2. Political Zombie Lending

Link to SSRN Working Paper

• Establishes that state-owned banks increase lending to financially weak `zombie' firms to avert major job losses prior to elections.
  
  

3. Sharing the Burden Equally? Intra-Group Effects of Bank Capital Requirements with H. Degryse, G. Lóránth and M. Mariathasan

CEPR Discussion Paper 18443

• Documents that (especially weaker) subsidiaries of banking groups subject to increased group-level capital requirements reduce RWAs and credit supply more than parents do. Suggests that affiliation to multinational banking group does not necessarily provide stability to subsidiaries.