In this document, the main characteristics of the mortgage markets regulation in developed countries will be analyzed, trying to extract implications in terms of the resilience of the different systems during this crisis. The note is organized in four sections, covering the most relevant issues...

Despite the extensive research in the field of housing economics, the role of some ‘fundamental’ economic variables, such as income, interest rates or stock of houses per capita, on the real price of housing is still not fully understood. In this paper we develop a dynamic general...

Utilizing a large transaction-level dataset on housing mortgages in China, this study estimates the effect of the mortgage rate spread between long- and short-term loans on property purchasers choice of loan length. Our identification of the causal effect of this spread on loan length hinges on...

Using unique survey data on agricultural traders in China in 2004, this study provides direct evidence on the significance of inter-regional trade barriers and their key components. Our major findings are as follows. (1) The trade barriers within China are fairly small, accounting for about 20...

New ways of understanding banking, technological improvements, and regulation yield new means of interaction between customers and banks through outsourcing agreements. This paper provides the first harmonised database with information on the number of banking correspondents by country, which...

Nuevas formas de entender la banca, los avances tecnologicos y la regulacion dan lugar a nuevos medios de interaccion entre los clientes y los bancos a traves de contratos de externalizacion. Este documento ofrece la primera base de datos armonizada con el numero de corresponsales bancarios por...

We find empirical evidence that the Chinese banking system has benefited from the entry of foreign investors through higher profitability and increased efficiency of the banking system. Foreign partcipation, which consists of a minority stake in a Chinese bank (in contrast to the typical pattern...

Banking union is the most ambitious European project undertaken since the introduction of the single currency. It was launched in the summer of 2012, in order to send the markets a strong signal of unity against a looming financial fragmentation problem that was putting the euro on the ropes....

This paper analyzes empirically what explains the low profitability of Chinese banks for the period 1997-2004. We find that better capitalized banks tend to be more profitable. The same is true for banks with a relatively larger share of deposits and for more X-efficient banks. In addition, a...

This paper analyzes the determinants and implications for financial stability of the mix of international banks’ claims countries receive. In articular, we distinguish between local claims, extended by international banks through their affiliates in a host (or claim recipient)...