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Selected Bibliography for Anil Kashyap
Edward Eagle Brown Professor of Economics and Finance



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Published Works | Working Papers

Published Works  

"Principles for Macroprudential Regulation." Anil Kashyap, Dimitrios Tsomocos and Alexandros Vardoulakis; Banque de France Financial Stability Review, 2014, 18, pp. 173-81.
https://www.banque-france.fr/fileadmin/user_upload/banque_de_france/publications/FSR18_Kashyap.pdf

"Conference: An Integrated Framework for Multiple Financial Regulations." Anil Kashyap; Revista de Economia, 2013, 20(1), pp. 7-31.
http://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1383373

"An Integrated Framework for Analyzing Multiple Financial Regulations." Charles A. E. Goodhart, Anil K. Kashyap, Dimitrios P. Tsomocos and Alexandros P. Vardoulakis; International Journal of Central Banking, 2013, 9, pp. 109-43.
http://www.ijcb.org/journal/ijcb13q0a5.htm

"The Optimal Conduct of Monetary Policy with Interest on Reserves." Anil K. Kashyap and Jeremy C. Stein; American Economic Journal: Macroeconomics, 2012, 4(1), pp. 266-82.
http://dx.doi.org/10.1257/mac.4.1.266

"The Japanese Banking Crisis: Where Did It Come from and How Will It End?," Takeo Hoshi and Anil Kashyap, in D. D. Evanoff, G. G. Kaufman and A. G. Malliaris: New Perspectives on Asset Price Bubbles: Theory, Evidence, and Policy. Oxford and New York: Oxford University Press, 2012, pp. 65-137

"The Macroprudential Toolkit." Anil K. Kashyap, Richard Berner and Charles A. E. Goodhart; IMF Economic Review, 2011, 59(2), pp. 145-61.
http://dx.doi.org/10.1057/imfer.2011.4

"A Macroprudential Approach to Financial Regulation."
 Samuel G. Hanson, Anil K. Kashyap and Jeremy C. Stein; Journal of Economic Perspectives, 2011, 25(1), pp. 3-28.
http://dx.doi.org/10.1257/jep.25.1.3

The Squam Lake Report : Fixing the Financial System; Kenneth R. French, Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K. Kashyap, Frederic S. Mishkin, Raghuram G. Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein and René Stulz; Princeton: Princeton University Press, 2010
http://site.ebrary.com/lib/uchicago/docDetail.action?docID=10394782

"Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan." Takeo Hoshi and Anil K. Kashyap; Journal of Financial Economics, 2010, 97(3), pp. 398-417.
http://dx.doi.org/10.1016/j.jfineco.2010.02.005

"Zombie Lending and Depressed Restructuring in Japan." Ricardo J. Caballero, Takeo Hoshi and Anil K. Kashyap; American Economic Review, 2008, 98(5), pp. 1943-77.
http://dx.doi.org/10.1257/aer.98.5.1943

"Investment Spikes: New Facts and a General Equilibrium Exploration." Francois Gourio and Anil K. Kashyap; Journal of Monetary Economics, 2007, 54(Supplement 1), pp. 1-22.
http://dx.doi.org/10.1016/j.jmoneco.2007.06.004

"The Contradiction in China's Gradualist Banking Reforms." Wendy Dobson and A. K. Kashyap; Brookings Papers on Economic Activity, 2006, 2006(2), pp. 103-62.
http://dx.doi.org/10.1353/eca.2007.0004

"Cyclical Implications of the Basel II Capital Standards." Anil K Kashyap and Jeremy C Stein; Economic Perspectives, 2004, 28(1), pp. 18-31.
http://www.chicagofed.org/publications/economicperspectives/ep_1qtr2004_part2_kashyap_stein.pdf

"Japan's Financial Crisis and Economic Stagnation." Takeo Hoshi and Anil K. Kashyap; Journal of Economic Perspectives, 2004, 18(1), pp. 3-26.
http://dx.doi.org/10.1257/089533004773563412

Monetary Policy Transmission in the Euro Area : A Study by the Eurosystem Monetary Transmission Network; Ignazio Angeloni, A. K. Kashyap and Benoît Mojon; Cambridge University Press, 2003

"Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data." Judith A. Chevalier, Anil K. Kashyap and Peter E. Rossi; American Economic Review, 2003, 93(1), pp. 15-37.
http://dx.doi.org/10.1257/000282803321455142

"Sorting out Japan's Financial Crisis." Anil K Kashyap; Economic Perspectives, 2002, 26(4), pp. 42.
http://www.chicagofed.org/publications/economicperspectives/2002/4qepart4.pdf

"Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit-Taking." Anil K. Kashyap, Raghuram Rajan and Jeremy C. Stein; Journal of Finance, 2002, 57(1), pp. 33-73.
http://dx.doi.org/10.1111/1540-6261.00415

"Introduction to the Symposium on the Japanese Economic Slump of the 1990s." Anil Kashyap and Andrew K. Rose; Journal of International Economics, 2001, 53( 2), pp. 239.
http://dx.doi.org/10.1016/S0022-1996(00)00074-X

Corporate Financing and Governance in Japan: The Road to the Future; Takeo Hoshi and Anil K. Kashyap; Cambridge and London: MIT Press, 2001

"Comment on Capital Markets and the Exchange Rate." Anil K. Kashyap; Journal of Money, Credit and Banking, 2001, 33(2), pp. 335-38.
http://links.jstor.org/sici?sici=0022-2879%28200105%2933%3A2%3C335%3ACOCMAT%3E2.0.CO%3B2-0

"Is the Bank Merger Wave of the 1990s Efficient? Lessons from Nine Case Studies: Comment," Anil K. Kashyap, in S. N. Kaplan: Mergers and Productivity. Chicago and London: University of Chicago Press, 2000, pp. 171-77

"The Japanese Banking Crisis: Where Did It Come from and How Will It End?," Takeo Hoshi and Anil Kashyap, in B. S. Bernanke and J. J. Rotemberg: NBER Macroeconomics Annual 1999. Volume 14. Cambridge and London: MIT Press, 2000, pp. 129-201

"What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?" Anil K. Kashyap and Jeremy C. Stein; American Economic Review, 2000, 90(3), pp. 407-28.
http://links.jstor.org/sici?sici=0002-8282%28200006%2990%3A3%3C407%3AWDAMOO%3E2.0.CO%3B2-0

"Will a Common European Monetary Policy Have Asymmetric Effects?" Luigi Guiso and Anil K. Kashyap; Economic Perspectives, 1999, 23(Issue 4), pp. 56.
http://www.chicagofed.org/publications/economicperspectives/1999/ep4Q99_4.pdf

"Government Debt, the Composition of Bank Portfolios, and the Transmission of Monetary Policy: Discussion," Anil Kashyap, in K. A. Chrystal: Government Debt Structure and Monetary Conditions: A Conference Organised by the Bank of England, 18-19 June 1998. London: Bank of England, 1999, pp. 190-93

"What Should Regulators Do About Merger Policy?" Anil K. Kashyap; Journal of Banking and Finance, 1999, 23(2-4), pp. 623-27.
http://dx.doi.org/10.1016/S0378-4266(98)00097-1

"Comment on Angelini, Di Salvo and Ferri." Anil K. Kashyap; Journal of Banking and Finance, 1998, 22(6-8), pp. 955-57.
http://dx.doi.org/10.1016/S0378-4266(98)00034-X

"The Lending Channel and European Monetary Union," Anil K. Kashyap, in S. Collignon: European Monetary Policy. London and Washington, D.C.: Pinter, 1997, pp. 42-71

"The Role of Banks in Monetary Policy: A Survey with Implications for the European Monetary Union." Anil K. Kashyap and Jeremy C. Stein; Economic Perspectives, 1997, 21(5), pp. 2-18.
http://www.chicagofed.org/publications/economicperspectives/1997/epsepoct97a.pdf

"Interactions between the Seasonal and Business Cycles in Production and Inventories." Stephen G. Cecchetti, Anil K. Kashyap and David W. Wilcox; American Economic Review, 1997, 87(5), pp. 884-92.
http://links.jstor.org/sici?sici=0002-8282%28199712%2987%3A5%3C884%3AIBTSAB%3E2.0.CO%3B2-Y

"International Cycles." Stephen G. Cecchetti and Anil K. Kashyap; European Economic Review, 1996, 40(2), pp. 331-60.
http://dx.doi.org/10.1016/0014-2921(95)00125-5

"Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance: Reply." Anil K. Kashyap, Jeremy C. Stein and David W. Wilcox; American Economic Review, 1996, 86(1), pp. 310-14.
http://links.jstor.org/sici?sici=0002-8282%28199603%2986%3A1%3C310%3AMPACCE%3E2.0.CO%3B2-6

"The Role of Banks in the Transmission of Monetary Policy." Anil K. Kashyap and Jeremy C. Stein; NBER Reporter, 1995, Fall, pp. 6.
http://search.epnet.com/login.aspx?direct=true&db=bth&an=9512192370

"International Finance and Firm Investment." R. Glenn Hubbard, Anil K. Kashyap and Toni M. Whited; Journal of Money, Credit, and Banking, 1995, 27(3), pp. 683-701.
http://links.jstor.org/sici?sici=0022-2879%28199508%2927%3A3%3C683%3AIFAFI%3E2.0.CO%3B2-3

"The Impact of Monetary Policy on Bank Balance Sheets." Anil K. Kashyap and Jeremy C. Stein; Carnegie-Rochester Conference Series on Public Policy, 1995, 42, pp. 151-95.
http://dx.doi.org/10.1016/0167-2231(95)00032-U

"The Transformation of the U.S. Banking Industry: What a Long, Strange Trip It's Been." Allen N. Berger, Anil K. Kashyap, Joseph M. Scalise, Mark Gertler and Benjamin M. Friedman; Brookings Papers on Economic Activity, 1995, 1995(2), pp. 55-218.
http://links.jstor.org/sici?sici=0007-2303%281995%291995%3A2%3C55%3ATTOTUB%3E2.0.CO%3B2-W

"Sticky Prices: New Evidence from Retail Catalogs." Anil K. Kashyap; Quarterly Journal of Economics, 1995, 110(1), pp. 245-74.
http://links.jstor.org/sici?sici=0033-5533%28199502%29110%3A1%3C245%3ASPNEFR%3E2.0.CO%3B2-N

"Internal Finance and Firm Investment." R. Glenn Hubbard, Anil K. Kashyap and Toni M. Whited; Journal of Money, Credit and Banking, 1995, 27(3), pp. 683-701.
http://links.jstor.org/sici?sici=0022-2879%28199508%2927%3A3%3C683%3AIFAFI%3E2.0.CO%3B2-3

"Review of 'Japanese Monetary Policy'." Anil K. Kashyap; Journal of International Economics, 1994, 37(1-2), pp. 135.
http://dx.doi.org/10.1016/0022-1996(94)90032-9

"Monetary Policy and Bank Lending," Anil K. Kashyap and Jeremy C. Stein, in N. G. Mankiw: Monetary Policy. Studies in Business Cycles, vol. 29. Chicago and London: University of Chicago Press, 1994, pp. 221-56

"Financial System Reform in Poland: Lessons from Japan's Main Bank System," Takeo Hoshi, Anil Kashyap and Gary Loveman, in M. Aoki and H. Patrick: The Japanese Main Bank System: Its Relevance for Developing and Transforming Economies. Oxford and New York: Oxford University Press, 1994, pp. 592-633

"Inventory Investment, Internal-Finance Fluctuations, and the Business Cycle: Comment." Anil K. Kashyap; Brookings Papers on Economic Activity, 1994, (2), pp. 123-27.
http://links.jstor.org/sici?sici=0007-2303%281994%291994%3A2%3C75%3AIIIFAT%3E2.0.CO%3B2-E

"Credit Conditions and the Cyclical Behavior of Inventories." Anil K. Kashyap, Owen A. Lamont and Jeremy C. Stein; Quarterly Journal of Economics, 1994, 109(3), pp. 565-92.
http://links.jstor.org/sici?sici=0033-5533%28199408%29109%3A3%3C565%3ACCATCB%3E2.0.CO%3B2-1

"Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance." Anil K. Kashyap, Jeremy C. Stein and David W. Wilcox; American Economic Review, 1993, 83(1), pp. 78-98.
http://links.jstor.org/sici?sici=0002-8282%28199303%2983%3A1%3C78%3AMPACCE%3E2.0.CO%3B2-2

"Production and Inventory Control at the General Motors Corporation During the 1920's and 1930's." Anil K. Kashyap and David W. Wilcox; American Economic Review, 1993, 83(3), pp. 383-401.
http://links.jstor.org/sici?sici=0002-8282%28199306%2983%3A3%3C383%3APAICAT%3E2.0.CO%3B2-B

"Internal Net Worth and the Investment Process: An Application to U.S. Agriculture." R. Glenn Hubbard and Anil K. Kashyap; Journal of Political Economy, 1992, 100(3), pp. 506-34.
http://links.jstor.org/sici?sici=0022-3808%28199206%29100%3A3%3C506%3AINWATI%3E2.0.CO%3B2-B

"Interest Rate Spreads, Credit Constraints, and Investment Fluctuations: An Empirical Investigation," Mark Gertler, R. Glenn Hubbard and Anil Kashyap, in R. G. Hubbard: Financial Markets and Financial Crises. Chicago and London: University of Chicago Press, 1991, pp. 11-31
http://www.nber.org/chapters/c11481.pdf

"Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups." Takeo Hoshi, Anil Kashyap and David Scharfstein; Quarterly Journal of Economics, 1991, 106(1), pp. 33-60.
http://links.jstor.org/sici?sici=0033-5533%28199102%29106%3A1%3C33%3ACSLAIE%3E2.0.CO%3B2-P

"Evidence on q and Investment for Japanese Firms." Takeo Hoshi and Anil K. Kashyap; Journal of the Japanese and International Economies, 1990, 4(4), pp. 371-400.
http://dx.doi.org/10.1016/0889-1583(90)90018-2

"Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships," Takeo Hoshi, Anil K. Kashyap and David S. Scharfstein, in R. G. Hubbard: Asymmetric Information, Corporate Finance, and Investment. Chicago and London: University of Chicago Press, 1990, pp. 105-26
http://www.nber.org/chapters/c11469.pdf

"The Role of Banks in Reducing the Costs of Financial Distress in Japan." Takeo Hoshi, Anil Kashyap and David Scharfstein; Journal of Financial Economics, 1990, 27(1), pp. 67-88.
http://dx.doi.org/10.1016/0304-405X(90)90021-Q

Price Setting and Investment: Models and Evidence; Anil Kashyap; Ph.D. Dissertation, Massachusetts Institute of Technology, 1989.

 

Working Papers  

Best Prices; Judith A. Chevalier and Anil K. Kashyap; NBER Working Paper Series No. 16680; Cambridge: National Bureau of Economic Research 2011.
http://www.nber.org/papers/w16680

Investment Spikes: New Facts and a General Equilibrium Exploration
; Francois Gourio and Anil K. Kashyap; NBER Working Paper Series no 13157; Cambridge: National Bureau of Economic Research, 2007.
http://www.nber.org/papers/w13157

Stability First: Reflections Inspired by Otmar Issing's Success as the Ecb's Chief Economist; Vitor Gaspar and Anil Kashyap; NBER working paper series ; no. w12277; Cambridge, Mass.: National Bureau of Economic Research, 2006.
http://www.nber.org/papers/w12277

Zombie Lending and Depressed Restructuring in Japan; Ricardo J. Caballero, Takeo Hoshi and Anil Kashyap; NBER working paper series ; no. w12129; Cambridge, Mass.: National Bureau of Economic Research, 2006.
http://www.nber.org/papers/w12129

Monetary Transmission in the Euro Area: Does the Interest Rate Channel Explain It All?; Ignazio Angeloni, Anil K. Kashyap, Benoit Mojon and Daniele Terlizzese; NBER Working Papers no.9984; Cambridge: National Bureau of Economic Research, 2003.
http://papers.nber.org/papers/9984

The Output Composition Puzzle: A Difference in the Monetary Transmission Mechanism in the Euro Area and U S; Ignazio Angeloni, Anil K. Kashyap, Benoit Mojon and Daniele Terlizzese; NBER Working Papers no.9985; Cambridge: National Bureau of Economic Research, 2003.
http://papers.nber.org/papers/9985

Sorting out Japan's Financial Crisis; A. K. Kashyap; NBER working paper series no. 9384; Cambridge: National Bureau of Economic Research, 2002.
http://nber.org/papers/w9384

Why Don't Prices Rise During Periods of Peak Demand? : Evidence from Scanner Data; Judith A. Chevalier, A. K. Kashyap and Peter E. Rossi; NBER working paper series no. 7981; Cambridge: National Bureau of Economic Research, 2000.
http://www.nber.org/papers/W7981

The Japanese Banking Crisis : Where Did It Come from and How Will It End?; Takeo Hoshi and A. K. Kashyap; NBER working paper series no. 7250; Cambridge: National Bureau of Economic Research, 1999.
http://papers.nber.org/papers/W7250

Banks as Liquidity Providers : An Explanation for the Co-Existence of Lending and Deposit-Taking; A. K. Kashyap, Raghuram Rajan and Jeremy C. Stein; NBER working paper series no. 6962; Cambridge: National Bureau of Economic Research, 1999.
http://papers.nber.org/papers/W6962

What do a Million Banks Have to Say About the Transmission of Monetary Policy?; A. K. Kashyap and Jeremy C. Stein; NBER working paper series no. 6056.; Cambridge: National Bureau of Economic Research, 1997.
http://papers.nber.org/papers/6056

The Transformation of the U.S. Banking Industry; Allen N. Berger, Anil K. Kashyap and Joseph M. Scalise; Financial Institutions Center Working Papers #96-06-C; Philadelphia: The Wharton School, 1996.
http://fic.wharton.upenn.edu/fic/papers/96/p9606.html

International Cycles; Stephen G. Cecchetti and A. K. Kashyap; NBER working paper series no. 5310; Cambridge: National Bureau of Economic Research, 1995.
http://papers.nber.org/papers/w5310

Do Firms Smooth the Seasonal in Production in a Boom? Theory and Evidence; Stephen G. Cecchetti, A. K. Kashyap and David W. Wilcox; NBER working paper series no. 5011; Cambridge: National Bureau of Economic Research, 1995.
http://papers.nber.org/papers/w5011

Impact of Monetary Policy on Bank Balance Sheets; A. K. Kashyap and Jeremy C. Stein; NBER working paper series no. 4821; Cambridge: National Bureau of Economic Research, 1994.
http://papers.nber.org/papers/w4821

Sticky Prices New Evidence from Retail Catalogs; A. K. Kashyap; NBER working paper series no. 4855; Cambridge: National Bureau of Economic Research, 1994.
http://papers.nber.org/papers/w4855

The Choice between Public and Private Debt : An Analysis of Post-Deregulation Corporate Financing in Japan; Takeo Hoshi, A. K. Kashyap and David Scharfstein; NBER working paper series no. 4421; Cambridge: National Bureau of Economic Research, 1993.
http://papers.nber.org/papers/4421

Monetary Policy and Bank Lending; A. K. Kashyap and Jeremy C. Stein; NBER working paper no. 4317; Cambridge: National Bureau of Economic Research, 1993.
http://papers.nber.org/papers/4317

Internal Finance and Firm Investment; R. Glenn Hubbard, A. K. Kashyap and Toni M. Whited; NBER working paper series no. 4392; Cambridge: National Bureau of Economic Research, 1993.
http://papers.nber.org/papers/w4392

Credit Conditions and the Cyclical Behavior of Inventories : A Case Study of the 1981-82 Recession; A. K. Kashyap, Owen A. Lamont and Jeremy C. Stein; NBER working paper series no. 4211; Cambridge: National Bureau of Economic Research, 1992.
http://papers.nber.org/papers/4211

Monetary Policy and Credit Conditions : Evidence from the Composition of External Finance; A. K. Kashyap, Jeremy C. Stein and David W. Wilcox; NBER working papers series no. 4015; Cambridge: National Bureau of Economic Research, 1992.
http://papers.nber.org/papers/4015

Interest Rate Spreads, Credit Constraints, and Investment Fluctuations : An Empirical Investigation; Mark Gertler, R. Glenn Hubbard and A. K. Kashyap; NBER working paper series no. 3495; Cambridge: National Bureau of Economic Research, 1990.
http://papers.nber.org/papers/3495

The Role of Banks in Reducing the Costs of Financial Distress in Japan; Takeo Hoshi, A. K. Kashyap and David Scharfstein; NBER working paper series no. 3435; Cambridge: National Bureau of Economic Research, 1990.
http://papers.nber.org/papers/3435

Internal Net Worth and the Investment Process : An Application to U.S. Agriculture; R. Glenn Hubbard and A. K. Kashyap; NBER working paper series no. 3339; Cambridge: National Bureau of Economic Research, 1990.
http://papers.nber.org/papers/3339

Bank Monitoring and Investment : Evidence from the Changing Structure of Japanese Corporate Banking Relationships; Takeo Hoshi, A. K. Kashyap and David Scharfstein; NBER working paper series no. 3079; Cambridge: National Bureau of Economic Research, 1989.
http://papers.nber.org/papers/3079

Corporate Structure, Liquidity, and Investment : Evidence from Japanese Panel Data; Takeo Hoshi, A. K. Kashyap and David Scharfstein; Working paper WP #2071-88; Cambridge: Sloan School of Management, Massachusetts Institute of Technology, 1988.
http://hdl.handle.net/1721.1/47084

A Weekly Perfect Foresight Model of the Nonborrowed Reserve Operating Procedure; Marvin Goodfriend, Gary Anderson, Anil Kashyap, George Moore and Richard D. Porter; Federal Reserve Bank of Richmond, Working Paper, 1984.
http://www.richmondfed.org/publications/research/working_papers/1984/pdf/wp84-4.pdf

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