Nicola Cetorelli

Federal Reserve Bank of New York

Senior Economist

33 Liberty Street

New York, NY 10045

United States

http://nyfedeconomists.org/cetorelli/

  • Federal Reserve Bank of New York

    • Email
    • Tel: 212-720-5071
    • Fax: 212-720-8363
SCHOLARLY PAPERS

39

DOWNLOADS
Rank 8,981

SSRN RANKINGS

Top 8,981

in Total Papers Downloads

9,973

SSRN CITATIONS
Rank 872

SSRN RANKINGS

Top 872

in Total Papers Citations

1,306

CROSSREF CITATIONS

462

Scholarly Papers (39)

Actions:
Email selected abstracts
1.

Trends in Financial Market Concentration and their Implications for Market Stability

Economic Policy Review, Vol. 13, No. 1, March 2007
Number of pages: 19 Posted: 26 Mar 2007
Nicola Cetorelli, Beverly Hirtle, Donald P. Morgan, Stavros Peristiani and João A. C. Santos
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York--Retired and Federal Reserve Bank of New York
Downloads 1,087 (39,961)
Citation 5

Abstract:

Loading...

Financial stability, financial crises, market concentration, competition, substitutability

2.

Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data

Downloads 863 (55,178)
Citation 70

Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data

FRB of Chicago Working Paper No. 99-08
Number of pages: 46 Posted: 24 May 2002
Nicola Cetorelli and Michele Gambera
Federal Reserve Bank of New York and Morningstar Associates LLC
Downloads 863 (54,366)
Citation 70

Abstract:

Loading...

Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data

Journal of Finance, Forthcoming
Posted: 13 Sep 2001
Nicola Cetorelli and Michele Gambera
Federal Reserve Bank of New York and Morningstar Associates LLC

Abstract:

Loading...

3.

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets

Downloads 737 (68,094)
Citation 261

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets

Number of pages: 51 Posted: 24 Feb 2004
Nicola Cetorelli and Philip E. Strahan
Federal Reserve Bank of New York and Boston College - Department of Finance
Downloads 658 (77,652)
Citation 10

Abstract:

Loading...

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets

NBER Working Paper No. w10832
Number of pages: 42 Posted: 29 Oct 2004 Last Revised: 06 Feb 2022
Nicola Cetorelli and Philip E. Strahan
Federal Reserve Bank of New York and Boston College - Department of Finance
Downloads 79 (599,309)
Citation 36

Abstract:

Loading...

4.

Oligopoly Banking and Capital Accumulation

FRB of Chicago Working Paper No. 2000-12, Duke Department of Economics Research Paper No. 19
Number of pages: 41 Posted: 15 Jan 2001
Nicola Cetorelli and Pietro F. Peretto
Federal Reserve Bank of New York and Duke University - Department of Economics
Downloads 715 (70,820)
Citation 28

Abstract:

Loading...

5.

Real Effects of Bank Competition

Number of pages: 33 Posted: 24 Feb 2004
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 704 (72,248)
Citation 33

Abstract:

Loading...

6.

Does Bank Concentration Lead to Concentration in Industrial Sectors?

Number of pages: 29 Posted: 16 Apr 2001
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 555 (97,562)
Citation 34

Abstract:

Loading...

7.

Shadow Bank Monitoring

FRB of New York Staff Report No. 638
Number of pages: 35 Posted: 03 Oct 2013
Tobias Adrian, Adam B. Ashcraft and Nicola Cetorelli
International Monetary Fund, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 550 (98,719)
Citation 24

Abstract:

Loading...

shadow banking, financial stability monitoring, financial intermediation

8.

Evolution in Bank Complexity

Forthcoming Version of Evolution in Bank Complexity, Economic Policy Review, Volume 20, Number 2
Number of pages: 42 Posted: 07 Apr 2014
Nicola Cetorelli, James McAndrews and James Traina
Federal Reserve Bank of New York, Wharton Financial Institutions Center and Federal Reserve Bank of San Francisco
Downloads 430 (132,561)
Citation 8

Abstract:

Loading...

organizational complexity, financial intermediation

9.

Entry and Competition in Highly Concentrated Banking Markets

Number of pages: 10 Posted: 11 Mar 2003
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 409 (140,480)
Citation 3

Abstract:

Loading...

Banks, Market Structure, Concentration, Entry, Competition

10.

Banking Globalization and Monetary Transmission

Downloads 349 (167,617)
Citation 147

Banking Globalization and Monetary Transmission

FRB of New York Staff Report No. 333
Number of pages: 41 Posted: 17 Jul 2008 Last Revised: 09 Jul 2014
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 282 (208,750)
Citation 316

Abstract:

Loading...

lending channel, bank, global, liquidity, internal capital markets

Banking Globalization, Monetary Transmission, and the Lending Channel

NBER Working Paper No. w14101
Number of pages: 39 Posted: 22 Jun 2008 Last Revised: 14 Jul 2022
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 67 (657,815)

Abstract:

Loading...

11.

Life-Cycle Dynamics in Industrial Sectors. The Role of Banking Market Structure

Number of pages: 38 Posted: 24 Feb 2003
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 335 (175,196)
Citation 4

Abstract:

Loading...

12.

Measures of Complexity of Global Banks

Economic Policy Review, Volume 20, Number 2
Number of pages: 39 Posted: 07 Apr 2014
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 332 (176,925)
Citation 5

Abstract:

Loading...

global banks, organizational complexity

13.

Globalized Banks: Lending to Emerging Markets in the Crisis

FRB of New York Staff Report No. 377
Number of pages: 20 Posted: 14 Jul 2009
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 294 (201,223)
Citation 15

Abstract:

Loading...

bank, global, liquidity, transmission, capital markets, cross-border lending

14.

Credit Quantity and Credit Quality: Bank Competition and Capital Accumulation

Downloads 288 (205,508)
Citation 7

Credit Quantity and Credit Quality: Bank Competition and Capital Accumulation

Economic Research Initiatives at Duke Working Paper No. 63
Number of pages: 43 Posted: 18 Sep 2010
Nicola Cetorelli and Pietro F. Peretto
Federal Reserve Bank of New York and Duke University - Department of Economics
Downloads 185 (313,474)
Citation 5

Abstract:

Loading...

Credit Quantity and Credit Quality: Bank Competition and Capital Accumulation

FRB of New York Staff Report No. 375
Number of pages: 39 Posted: 15 Jun 2009
Nicola Cetorelli and Pietro F. Peretto
Federal Reserve Bank of New York and Duke University - Department of Economics
Downloads 103 (504,547)

Abstract:

Loading...

bank competition, economic growth, oligopoly, lending

15.

Firm Value and Cross-Listings: The Impact of Stock Market Prestige

FRB of New York Staff Report No. 474
Number of pages: 47 Posted: 28 Sep 2010
Nicola Cetorelli and Stavros Peristiani
Federal Reserve Bank of New York and Federal Reserve Bank of New York--Retired
Downloads 232 (254,831)
Citation 11

Abstract:

Loading...

Cross-Listings, Network Analysis

16.

Global Banks and International Shock Transmission: Evidence from the Crisis

Downloads 209 (281,177)
Citation 153

Global Banks and International Shock Transmission: Evidence from the Crisis

FRB of New York Staff Report No. 446
Number of pages: 41 Posted: 16 May 2010
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 148 (380,730)
Citation 95

Abstract:

Loading...

bank, global, transmission, capital markets, cross-border lending, emerging market

Global Banks and International Shock Transmission: Evidence from the Crisis

NBER Working Paper No. w15974
Number of pages: 41 Posted: 10 May 2010 Last Revised: 24 Feb 2023
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 61 (690,444)
Citation 3

Abstract:

Loading...

17.

Prestigious Stock Exchanges: A Network Analysis of International Financial Centers

Federal Reserve Bank of New York, Staff Report No. 384
Number of pages: 57 Posted: 31 Aug 2009
Nicola Cetorelli and Stavros Peristiani
Federal Reserve Bank of New York and Federal Reserve Bank of New York--Retired
Downloads 195 (299,519)
Citation 8

Abstract:

Loading...

network analysis, stock exchanges, global equity activity

18.

Resolving 'Too Big to Fail'

FRB of New York Staff Report No. 859
Number of pages: 28 Posted: 20 Jun 2018
Nicola Cetorelli and James Traina
Federal Reserve Bank of New York and Federal Reserve Bank of San Francisco
Downloads 182 (318,709)
Citation 3

Abstract:

Loading...

cost of capital, time consistency, too big to fail, resolution plans, Dodd-Frank

19.

Organizational Complexity and Balance Sheet Management in Global Banks

Downloads 173 (333,520)
Citation 6

Organizational Complexity and Balance Sheet Management in Global Banks

FRB of NY Staff Report No. 772
Number of pages: 38 Posted: 31 May 2016 Last Revised: 11 Nov 2017
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 142 (393,733)
Citation 1

Abstract:

Loading...

global bank, liquidity, transmission, internal capital market, organization, complexity

Organizational Complexity and Balance Sheet Management in Global Banks

NBER Working Paper No. w22169
Number of pages: 38 Posted: 18 Apr 2016 Last Revised: 28 Jan 2023
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 31 (908,125)

Abstract:

Loading...

20.

Non-Bank Financial Institutions and Banks’ Fire-Sale Vulnerabilities

Downloads 168 (342,106)
Citation 3

Non-Bank Financial Institutions and Banks’ Fire-Sale Vulnerabilities

FRB of New York Staff Report No. 1057, 2023
Number of pages: 39 Posted: 13 Mar 2023
Nicola Cetorelli, Mattia Landoni and Lina Lu
Federal Reserve Bank of New York, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 116 (461,435)

Abstract:

Loading...

fire sales, network externalities, financial stability, nonbanks, monitoring

Non-Bank Financial Institutions and Banks’ Fire-Sale Vulnerabilities

FRB of Boston Supervisory Research & Analysis Unit Working Paper No. SRA 23-01
Number of pages: 39 Posted: 06 Oct 2023
Nicola Cetorelli, Mattia Landoni and Lina Lu
Federal Reserve Bank of New York, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston
Downloads 52 (744,665)
Citation 3

Abstract:

Loading...

fire sales, network externalities, financial stability, nonbanks, monitoring

21.

Monetary Policy, Investor Flows, and Loan Fund Fragility

FRB of New York Staff Report No. 1008, Rev. October 2023. Previous title: “Monetary Policy and the Run Risk of Loan Funds”
Number of pages: 79 Posted: 07 Mar 2022 Last Revised: 25 Oct 2023
Nicola Cetorelli, Gabriele La Spada and João A. C. Santos
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 163 (351,084)
Citation 2

Abstract:

Loading...

mutual funds, monetary policy, leverage lending

22.

Risks in U.S. Bank International Exposures

FRB of New York Staff Report No. 240
Number of pages: 24 Posted: 13 Mar 2006
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 152 (372,107)
Citation 5

Abstract:

Loading...

bank, foreign exposure, cross border, lending, capital

23.

Where Do Banks End and NBFIs Begin?

Downloads 144 (388,716)
Citation 1

Where Do Banks End and NBFIs Begin?

Number of pages: 53 Posted: 12 Apr 2024
Viral V. Acharya, Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - Leonard N. Stern School of Business, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business
Downloads 133 (414,946)

Abstract:

Loading...

non-bank financial intermediaries, nonbanks, shadow banking, bank regulation, regulatory arbitrage, systemic risk, credit lines, derivatives margin

Where Do Banks End and Nbfis Begin?

NBER Working Paper No. w32316
Number of pages: 54 Posted: 15 Apr 2024
Viral V. Acharya, Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - Leonard N. Stern School of Business, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business
Downloads 11 (1,126,813)
Citation 1
  • Add to Cart

Abstract:

Loading...

24.

Credit Market Competition and the Nature of Firms

Downloads 139 (399,700)
Citation 1

Credit Market Competition and the Nature of Firms

FRB of New York Staff Report No. 366
Number of pages: 47 Posted: 13 Mar 2009 Last Revised: 08 Jun 2010
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 84 (577,313)
Citation 2

Abstract:

Loading...

firm dynamics, credit reform, imprinting

Credit Market Competition and the Nature of Firms

US Census Bureau Center for Economic Studies Paper No. CES-WP-09-07
Number of pages: 44 Posted: 06 Aug 2009 Last Revised: 07 Aug 2009
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 55 (725,611)
Citation 3

Abstract:

Loading...

25.

Hybrid Intermediaries

FRB of New York Staff Report No. 705
Number of pages: 29 Posted: 31 Dec 2014
Nicola Cetorelli
Federal Reserve Bank of New York
Downloads 137 (404,188)
Citation 10

Abstract:

Loading...

intermediation, conglomeration

26.

Transformation of Corporate Scope in U.S. Banks: Patterns and Performance Implications

FRB of NY Staff Report No. 813
Number of pages: 54 Posted: 01 Jun 2017
Nicola Cetorelli, Michael G. Jacobides and Samuel Stern
Federal Reserve Bank of New York, London Business School and University of Michigan at Ann Arbor - Department of Economics, Students
Downloads 129 (423,617)
Citation 2

Abstract:

Loading...

business scope, performance, diversification

27.

Liquidity Management of U.S. Global Banks: Internal Capital Markets in the Great Recession

Downloads 128 (426,104)
Citation 106

Liquidity Management of U.S. Global Banks: Internal Capital Markets in the Great Recession

FRB of New York Staff Report No. 511
Number of pages: 50 Posted: 26 Aug 2011
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 85 (573,100)
Citation 44

Abstract:

Loading...

banks, global, liquidity, transmission, capital markets, crisis

Liquidity Management of U.S. Global Banks: Internal Capital Markets in the Great Recession

NBER Working Paper No. w17355
Number of pages: 50 Posted: 29 Aug 2011 Last Revised: 04 Jun 2023
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 43 (807,712)

Abstract:

Loading...

28.

Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

Downloads 87 (558,508)
Citation 61

Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

FRB of New York Staff Report No. 545
Number of pages: 15 Posted: 10 Feb 2012
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 56 (719,495)

Abstract:

Loading...

bank, global, liquidity, transmission, capital markets, crisis

Follow the Money: Quantifying Domestic Effects of Foreign Bank Shocks in the Great Recession

NBER Working Paper No. w17873
Number of pages: 15 Posted: 24 Feb 2012 Last Revised: 04 May 2023
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 31 (908,125)
Citation 27

Abstract:

Loading...

29.

Banking Globalization, Monetary Transmission and the Lending Channel

Bundesbank Series 1 Discussion Paper No. 2008,21
Number of pages: 60 Posted: 08 Jun 2016
Nicola Cetorelli and Linda S. Goldberg
Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 25 (937,897)
Citation 4

Abstract:

Loading...

Lending channel, Bank, global, liquidity, transmission, internal capital markets

30.

Mapping a Sector’s Scope Transformation and the Value of Following the Evolving Core

FRB of New York Staff Report No. 963
Number of pages: 67 Posted: 20 Apr 2021
Nicola Cetorelli, Michael G. Jacobides and Samuel Stern
Federal Reserve Bank of New York, London Business School and University of Michigan at Ann Arbor - Department of Economics, Students
Downloads 22 (968,174)

Abstract:

Loading...

scope, relatedness, diversification, industry evolution, expansion

31.

The Nonbank Footprint of Banks

FRB of New York Staff Report No. 1118, https://doi.org/10.59576/sr.1118
Number of pages: 57 Posted: 23 Sep 2024
Nicola Cetorelli and Saketh Prazad
Federal Reserve Bank of New York and Harvard University
Downloads 16 (1,032,553)

Abstract:

Loading...

bank holding companies, firm boundaries, nonbank financial institutions, liquidity synergies, bank regulation, banking firm

32.

Where Do Banks End and NBFIs Begin?

FRB of New York Staff Report No. 1119, https://doi.org/10.59576/sr.1119
Number of pages: 54 Posted: 24 Sep 2024
Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - New York University, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business
Downloads 15 (1,043,523)

Abstract:

Loading...

nonbanks, shadow banking, bank regulation, regulatory arbitrage, systemic risk, credit lines, derivatives margin, nonbank financial intermediaries

33.

A Review of Shadow Banking

CEPR Discussion Paper No. DP13363
Number of pages: 38 Posted: 11 Dec 2018 Last Revised: 17 Dec 2018
Tobias Adrian, Adam B. Ashcraft, Peter Breuer and Nicola Cetorelli
International Monetary Fund, Federal Reserve Bank of New York, International Monetary Fund (IMF) and Federal Reserve Bank of New York
Downloads 9 (1,109,982)
Citation 1
  • Add to Cart

Abstract:

Loading...

34.

The Growing Risk of Spillovers and Spillbacks in the Bank‑NBFI Nexus

Liberty Street Economics
Posted: 28 Jun 2024
Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - New York University, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business

Abstract:

Loading...

Nonbank financial institutions (NBFIs), non-bank financial intermediaries, nonbanks, systemic risk, spillovers, bank regulation

35.

Banks and Nonbanks are Not Separate, But Interwoven

Liberty Street Economics
Posted: 20 Jun 2024
Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - New York University, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business

Abstract:

Loading...

non-bank financial intermediaries, nonbanks, shadow banking, bank regulation, macroprudential regulation, regulatory arbitrage, systemic risk

36.

Nonbanks Are Growing but Their Growth Is Heavily Supported by Banks

Liberty Street Economics
Posted: 18 Jun 2024
Viral V. Acharya, Nicola Cetorelli and Bruce Tuckman
New York University (NYU) - New York University, Federal Reserve Bank of New York and New York University (NYU) - Leonard N. Stern School of Business

Abstract:

Loading...

non-bank financial intermediaries, funding, credit lines

37.

Bond Funds in the Aftermath of SVB’s Collapse

Liberty Street Economics
Posted: 29 Nov 2023
Nicola Cetorelli and Sarah Zebar
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York

Abstract:

Loading...

Silicon Valley Bank (SVB), Bank Term Funding Program (BTFP)

38.

The Nonbank Shadow of Banks

Liberty Street Economics
Posted: 28 Nov 2023
Nicola Cetorelli and Saketh Prazad
Federal Reserve Bank of New York and Harvard University

Abstract:

Loading...

nonbank financial institutions (NBFIs), conglomeration benefits, banks

39.

The Effects of Regulatory Reform on Competition in the Banking Industry

Journal of Money, Credit, and Banking, Vol. 35, No. 5, pp. 663-684, October 2003
Posted: 26 Oct 2006
Paolo Angelini and Nicola Cetorelli
Bank of Italy and Federal Reserve Bank of New York

Abstract:

Loading...

bank competition, mergers and acquisitions, Lerner, consolidation, deregulation