## Lev Ratnovski

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**Canonical URL:** [Lev Ratnovski](https://www.imf.org/en/research/researcher-cv/author/ratnovski-lev)

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## Bibliographic details
- Authors: Lev Ratnovski

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### Biography

Lev Ratnovski is an economist at the Research Department of the International Monetary Fund. He focuses on international banking and finance issues. Previously, he worked on the United States and Canada desks of the IMF (2008-10) and in the Financial Stability area of the Bank of England (2006-08). Mr. Ratnovski holds a B.Sc. from HSE-Moscow and a Ph.D. from the University of Amsterdam.

### Profile

### IMF Publications

### IMF Books and Working Papers

- [Bank Profits and Bank Taxes in the EU](https://www.imf.org/en/publications/wp/issues/2024/07/09/bank-profits-and-bank-taxes-in-the-eu-551126), Working Paper No. 2024/143 , July 9, 2024

- [The ECB’s Future Monetary Policy Operational Framework: Corridor or Floor?](https://www.imf.org/en/publications/wp/issues/2024/03/15/the-ecbs-future-monetary-policy-operational-framework-corridor-or-floor-546355), Working Paper No. 2024/056 , March 15, 2024

- [Monetary Policy Pass-Through to Interest Rates: Stylized Facts from 30 European Countries](https://www.imf.org/en/publications/wp/issues/2024/01/12/monetary-policy-pass-through-to-interest-rates-stylized-facts-from-30-european-countries-543715), Working Paper No. 2024/009 , January 12, 2024

- [One Hundred Inflation Shocks: Seven Stylized Facts](https://www.imf.org/en/publications/wp/issues/2023/09/13/one-hundred-inflation-shocks-seven-stylized-facts-539159), Working Paper No. 2023/190 , September 15, 2023

- [Do Lenders Make Less-Informed Investments in High-Growth Housing Markets?](https://www.imf.org/en/publications/wp/issues/2021/05/27/do-lenders-make-less-informed-investments-in-high-growth-housing-markets-50221), Working Paper No. 2021/151 , May 27, 2021

- [Monetary Policy and Intangible Investment](https://www.imf.org/en/publications/wp/issues/2020/08/07/monetary-policy-and-intangible-investment-49623), Working Paper No. 2020/160 , August 7, 2020

- [Financial Intermediation and Technology: What’s Old, What’s New?](https://www.imf.org/en/publications/wp/issues/2020/08/07/financial-intermediation-and-technology-whats-old-whats-new-49624), Working Paper No. 2020/161 , August 7, 2020

- [The Dynamics of Non-Performing Loans during Banking Crises: A New Database](https://www.imf.org/en/publications/wp/issues/2019/12/06/the-dynamics-of-non-performing-loans-during-banking-crises-a-new-database-48839), Working Paper No. 2019/272 , December 6, 2019

- [The Effects of Higher Bank Capital Requirements on Credit in Peru](https://www.imf.org/en/publications/wp/issues/2018/09/28/the-effects-of-higher-bank-capital-requirements-on-credit-in-peru-46274), Working Paper No. 2018/222 , September 28, 2018

- [Credit and Fiscal Multipliers in China](https://www.imf.org/en/publications/wp/issues/2017/12/12/credit-and-fiscal-multipliers-in-china-45460), Working Paper No. 2017/273 , December 12, 2017

- [Bank Lending in the Knowledge Economy](https://www.imf.org/en/publications/wp/issues/2017/11/07/bank-lending-in-the-knowledge-economy-45343), Working Paper No. 2017/234 , November 7, 2017

- [Benefits and Costs of Corporate Debt Restructuring: An Estimation for Korea](https://www.imf.org/en/publications/wp/issues/2016/12/31/benefits-and-costs-of-corporate-debt-restructuring-an-estimation-for-korea-44338), Working Paper No. 2016/204 , October 17, 2016

- [Benefits and Costs of Bank Capital](https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/benefits-and-costs-of-bank-capital-43710), Staff Discussion Notes No. 2016/004 , March 3, 2016

- [Bank Profitability and Risk-Taking](https://www.imf.org/en/publications/wp/issues/2016/12/31/bank-profitability-and-risk-taking-43421), Working Paper No. 2015/249 , November 25, 2015

- [Bank Size and Systemic Risk](https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/bank-size-and-systemic-risk-41482), Staff Discussion Notes No. 2014/004 , May 8, 2014

- [Global Liquidity and Drivers of Cross-Border Bank Flows](https://www.imf.org/en/publications/wp/issues/2016/12/31/global-liquidity-and-drivers-of-cross-border-bank-flows-41511), Working Paper No. 2014/069 , April 29, 2014

- [What is Shadow Banking?](https://www.imf.org/en/publications/wp/issues/2016/12/31/what-is-shadow-banking-41334), Working Paper No. 2014/025 , February 11, 2014

- [Bailouts and Systemic Insurance](https://www.imf.org/en/publications/wp/issues/2016/12/31/bailouts-and-systemic-insurance-41048), Working Paper No. 2013/233 , November 12, 2013

- [Competition Policy for Modern Banks](https://www.imf.org/en/publications/wp/issues/2016/12/31/competition-policy-for-modern-banks-40568), Working Paper No. 2013/126 , May 23, 2013

- [Liquidity and Transparency in Bank Risk Management](https://www.imf.org/en/publications/wp/issues/2016/12/31/liquidity-and-transparency-in-bank-risk-management-40258), Working Paper No. 2013/016 , January 18, 2013

- [Shadow Banking: Economics and Policy](https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/shadow-banking-economics-and-policy-40132), Staff Discussion Notes No. 2012/012 , December 4, 2012

- [Banking and Trading](https://www.imf.org/en/publications/wp/issues/2016/12/31/banking-and-trading-40031), Working Paper No. 2012/238 , October 2, 2012

- [Externalities and Macroprudential Policy](https://www.imf.org/en/publications/staff-discussion-notes/issues/2016/12/31/externalities-and-macroprudential-policy-25936), Staff Discussion Notes No. 2012/005 , June 7, 2012

- [Commodity Prices and Inflation Expectations in the United States](https://www.imf.org/en/publications/wp/issues/2016/12/31/commodity-prices-and-inflation-expectations-in-the-united-states-25803), Working Paper No. 2012/089 , March 1, 2012

- [Capital Regulation and Tail Risk](https://www.imf.org/en/publications/wp/issues/2016/12/31/capital-regulation-and-tail-risk-25152), Working Paper No. 2011/188 , August 1, 2011

- [The Dark Side of Bank Wholesale Funding](https://www.imf.org/en/publications/wp/issues/2016/12/31/the-dark-side-of-bank-wholesale-funding-24061), Working Paper No. 2010/170 , July 1, 2010

- [Why Are Canadian Banks More Resilient?](https://www.imf.org/en/publications/wp/issues/2016/12/31/why-are-canadian-banks-more-resilient-23040), Working Paper No. 2009/152 , July 1, 2009

- [Public Financial Institutions in Developed Countries—Organization and Oversight](https://www.imf.org/en/publications/wp/issues/2016/12/31/public-financial-institutions-in-developed-countries-organization-and-oversight-21213), Working Paper No. 2007/227 , September 1, 2007

### IMF Country Reports

- [United States - Article IV 2009 (monetary policy)](http://www.imf.org/external/pubs/ft/scr/2009/cr09228.pdf)

- [Canada - Article IV 2009 (financial sector and monetary policy)](http://www.imf.org/external/pubs/ft/scr/2009/cr09162.pdf)

### Other Published Materials

- [In the Eye of the Storm, review of Hank Paulson's "On the Brink", Finance & Development, June 2010](http://www.imf.org/external/pubs/ft/fandd/2010/06/books.htm)

### Non-IMF Publications

### Publications in Journals (Refereed)

- [Bank Liquidity Regulation and the Lender of Last Resort, Journal of Financial Intermediation, Volume 18, Issue 4, October 2009, Pages 541-558](http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6WJD-4RR831K-1&_user=2052542&_coverDate=10%2F31%2F2009&_alid=1420195700&_rdoc=2&_fmt=high&_orig=search&_cdi=6876&_sort=r&_docanchor=&view=c&_ct=2&_acct=C000055300&_version=1&_urlVersion=0&_userid=2052542&md5=0ccb733b10d3f084fe0bc20a13267d90)

- [The Dark Side of Bank Wholesale Funding (with Rocco Huang), Journal of Financial Intermediation, forthcoming](http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6WJD-50CDSMJ-1&_user=2052542&_coverDate=06%2F23%2F2010&_alid=1420195700&_rdoc=1&_fmt=high&_orig=search&_cdi=6876&_sort=r&_docanchor=&view=c&_ct=2&_acct=C000055300&_version=1&_urlVersion=0&_userid=2052542&md5=d76a78732ec20a56258406a18a32f268)

### Publications in Books and Conference Volumes

- [Liquidity and Transparency in Bank Risk Management, revise and resubmit, Journal of Financial Intermediation](http://papers.ssrn.com/sol3/papers.cfm?abstract_id=908937)

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## Content in this bundle

- [Canada - Article IV 2009 (PDF)](/external/pubs/ft/scr/2009/cr09162.pdf){rel="external" type="application/pdf"}
- [United States - Article IV 2009 (PDF)](/external/pubs/ft/scr/2009/cr09228.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/research/researcher-cv/author/ratnovski-lev_