Misa Tanaka

Head of Research - Research Hub

Biography

Misa is the Head of Research at the Bank of England. She has joined the Bank in 2002 after completing a D.Phil in Economics at Nuffield College, University of Oxford. She has held a number of positions across Monetary Analysis, Financial Stability, and Prudential Policy Areas of the Bank. Misa has previously published articles on international policy spillovers, bonus regulations, and sovereign debt finance in Journal of Money, Credit and Banking, Journal of Financial Intermediation, and Economic Journal, amongst others. Misa's current research interests include prudential policies and the impact of climate change on the financial system.
Misa Tanaka

 

Misa's Bank publications

Publication // Working Paper

Does bonus cap curb risk taking? An experimental...

Does bonus cap curb risk taking? An experimental study of relative performance pay and bonus regulation
Publication // Working Paper

Equity, debt and moral hazard: the optimal...

Equity, debt and moral hazard: the optimal structure of banks’ loss absorbing capacity
Publication // Working Paper

How do bonus cap and malus affect risk and...

How do bonus cap and malus affect risk and effort choice Insight from a lab experiment
Publication // Working Paper

An elusive panacea? The impact of the regulatory...

An elusive panacea? The impact of the regulatory valuation regime on insurers' investment behaviour
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Misa's Bank Underground blog posts

Does the bonus cap work? - February 2023
What did we learn from working from home during Covid? - June 2022
Climate and capital: some outstanding issues - June 2022
Gender imbalance in economics: what next? - October 2021
Covid-19 briefing: working from home and worker productivity - July 2021
Covid-19 briefing: Covid-19 crisis, climate change and green recovery - November 2020
How do bonus structures affect risk and effort choices? Insight from a lab experiment - February 2019
Climate change and finance: what role for central banks and financial regulators? - August 2018
Will Pay Clawback Tame Damaging Risk-Taking In The City? - October 2017
Green investment for busy people: retail investors need help to navigate towards the 2°C climate goal - April 2017
Fixing bankers’ pay: punish bad risk management, not bad risk outcomes - December 2015

 

Misa's selected academic publications

An elusive panacea? The impact of the regulatory valuation regime on insurers’ investment behaviour, with Caterina Lepore, David Humphry and Kallol Sen, International Review of Financial Analysis (2019) 
Credit traps and macroeconomic leverage, with Angus Foulis and Benjamin Nelson, Journal of Money, Credit and Banking (2018)
Climate change challenges for central banks and financial regulators, with Emanuele Campiglio, Yannis Dafermos, Pierre Monnin, Josh Ryan-Collins and Guido Schotten, Nature Climate Change (2018)
Climate change: what implications for central banks and financial regulators?, with Sandra Batten and Rhiannon Sowerbutts, Caldecott, Ben eds, Stranded Assets and the Environment: Risk, Resilience and Opportunity, Routledge (2018)
Optimal pay regulation for too-big-to-fail banks, with John Thanassoulis, Journal of Financial Intermediation (2018)
Reputation, risk-taking and macroprudential policy, with David Aikman and Benjamin Nelson, Journal of Banking and Finance (2015)
International spillover effects and monetary policy activism, with Anna Lipinska and Morten Spange, Journal of Money, Credit and Banking (2011)
Does better information about foreign shocks improve monetary policy?, with Kang Yong Tan, Journal of International Money and Finance (2010)
Bond vs. bank finance: implications for sovereign debtors, Economic Journal (2006)
The macroeconomic implications of the New Basel Accord, CESifo Economic Studies (2003) 

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