Bank Insolvency Risk and Z-Score Measures: A Refinement, Finance Research Letters, (2015)

We re-examine the probabilistic foundation of the link between Z-score measures and banks' probability of...



Bank Income Smoothing, Ownership Concentration and the Regulatory Environment (with Vincent Bouvatier and Laetitia Lepetit), Journal of Banking & Finance (2014)

We empirically examine whether the way a bank might use loan loss provisions to smooth...



Monetary, financial and fiscal stability in the East African Community: ready for a monetary union? (with Laetitia Lepetit and Clovis Rugemintwari), World Economy, (2014)

We examine prospects for a monetary union in the East African Community (EAC) by developing...



Bank insolvency risk and time-varying Z-score measures (with Laetitia Lepetit), Journal of International Financial Markets, Institutions & Money (2013)

We compare the different existing approaches to the construction of time-varying Z-score measures, plus an...



Uncertainty and Switching in the Mortgage Market (with Celine Gondat-Larralde), Applied Economics (2013)

We examine when it might be optimal for borrowers to switch providers of debt products...


Unpublished Papers


Bank Equity Involvement in Industrial Firms and Bank Risk (with Laetitia Lepetit), Available at SSRN: (2012)

The regulatory framework in Europe does not prevent banks from taking large or controlling equity...