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when either interbank credit exposures or bank runs are present. This paper shows that this phenomenon can also arise when … individual liquidity risk trans- forms into system-wide market risk (even in the absence of bank runs and interbank credit …
Persistent link: https://www.econbiz.de/10005466443
economies during the 2000's. The risk taking channel of monetary policy transmission is a recent theory that explains the …
Persistent link: https://www.econbiz.de/10009645748
developing a better understanding of credit and its mechanisms. A rapidly growing strand of the literature views banks as facing …. This work explores the way banks in Colombia manage their balance sheet and sheds light into the dynamics of credit and …
Persistent link: https://www.econbiz.de/10010828174
Scale-free (inhomogeneous) connective structures with modular (highly clustered) hierarchies are ubiquitous in real–world networks. Evidence from the main Colombian payment and settlement systems verifies that local financial networks have self-organized into a modular scale-free architecture...
Persistent link: https://www.econbiz.de/10010765007
Evidence suggests that the Colombian interbank funds market is an inhomogeneous and hierarchical network in which a few …
Persistent link: https://www.econbiz.de/10010765765
We study the network of Colombian sovereign securities settlements. With data from the settlement market infrastructure … combine into a multi-layer network. Examining this network of networks enables us to confirm that (i) studying isolated single ….g. sparse, inhomogeneous, and clustered); and (iii) the multi-layer network is a multiplex that preserves the main connective …
Persistent link: https://www.econbiz.de/10010889038
An interacting network coupling financial institutions’ multiplex (i.e. multi-layer) and financial market … because the network then fails to isolate feedbacks and limit cascades while it retains its robust-yet-fragile features …
Persistent link: https://www.econbiz.de/10010946009
This paper estimates transition matrices for the ratings on …nancial insti-tutions, using an unusually informative data set. We show that the processof rating migration exhibits signi…cant non-Markovian behavior, in the sensethat the transition intensities are a¤ected by macroeconomic and...
Persistent link: https://www.econbiz.de/10005466419
In this paper we find empirical evidence of bank lending channel for Colombia, using a balanced panel data of about four thousand non-financial firms. We find that increases in the interest rate, proxiing for the monetary policy instrument, lead to a reduction in the proportion of bank loans,...
Persistent link: https://www.econbiz.de/10005466432
This paper estimates transition matrices for the ratings on financial insti-tutions, using an unusually informative data set. We show that the process of rating migration exhibits significant non-Markovian behavior, in the sense that the transition intensities are affected by macroeconomic and...
Persistent link: https://www.econbiz.de/10005466433