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relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis … firms in a crisis. Using detailed credit register information for Italian banks before and after the Lehman Brothers …' default, we are able to study how relationship and transaction-banks responded to the crisis and we test existing theories of …
Persistent link: https://www.econbiz.de/10010849790
the Greek fiscal crisis influenced short- and medium-term inflation expectations but had only a very small impact on long …
Persistent link: https://www.econbiz.de/10009195369
Accommodative monetary policy during the financial crisis was instrumental in preventing a deeper recession. Views … countries, indicates that monetary policy is less effective in a financial crisis, when impairments in the monetary transmission … the subsequent recovery are more elusive when the downturn is associated with a financial crisis. In addition, we find …
Persistent link: https://www.econbiz.de/10010849783
Every financial crisis brings in its wake demands for more information; the latest one is no exception. Because, in … with corresponding information on the international geography of these banks' operations and, for crisis management …
Persistent link: https://www.econbiz.de/10010849784
The increase in the TARGET2 balance for the Bundesbank has led to a debate in Germany about the appropriate interpretation and policy response, if any. In this paper we review the evidence for the current account financing interpretation, and find it wanting in explaining the data in 2012. BIS...
Persistent link: https://www.econbiz.de/10010849796
We examine the liquidity effects of the euro area sovereign debt crisis, including its effects on euro area banks as a … deficit countries and its collateral policy. The euro crisis has also created international liquidity stresses. We find that …
Persistent link: https://www.econbiz.de/10010849801
One area where international monetary cooperation has failed is in the role of surplus or creditor countries in limiting or in correcting external imbalances. The stock dimensions of such imbalances - net external positions, leverage in national balance sheets, currency/maturity mismatches, the...
Persistent link: https://www.econbiz.de/10010849805
We study the impact of US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error correction model (GVECM). We focus on the effects of reductions in the US term and corporate spreads. The estimated effects of QE are sizeable and vary across...
Persistent link: https://www.econbiz.de/10011210512
The international financial crisis of the late 2000s has revived interest in asset price bubble research. For some, the … crisis stories, and this has certainly been the case in the recent international financial crisis. The particular …. Where did the spillovers come from and how will the crisis end? While there are many different ways to conceptualise the …
Persistent link: https://www.econbiz.de/10009364650
This paper examines whether the rescue measures adopted during the global financial crisis helped to sustain the supply … 1995-2010. While stronger capitalisation sustains loan growth in normal times, banks during a crisis can turn additional …
Persistent link: https://www.econbiz.de/10009364652