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Modeling the Components of Market Discipline

Kalfaoglou, Faidon; Sarris, Alexandros - Bank of Greece - 2006

This paper evaluates the role of inflation-forecast heterogeneity in US monetary policy making. The deviation between private and central bank inflation forecasts is identified as a factor increasing inflation persistence and thus calling for a policy reaction. An optimal policy rule is derived...

Persistent link: https://www.econbiz.de/10005523512

Institutions Matter: Financial Supervision Architecture, Central Bank and Path Dependence. General Trends and the South Eastern European Countries

Masciandaro, Donato; Quintyn, Marc - Bank of Greece - 2008

the existing institutional setting in a systematic way: the more the central bank is actually involved in supervision, the … central bank in supervision is correlated with a multi–authority regime, while in one case a high degree of financial … supervision unification is related with low central bank involvement. …

Persistent link: https://www.econbiz.de/10005523536

Procyclicality in the banking industry: causes, consequences and response

Athanasoglou, Panayiotis P.; Daniilidis, Ioannis - Bank of Greece - 2011

Procyclicality is an inherent feature of the real and especially the financial sector of an economy, which has been highlighted by the recent crisis. Due to procyclicality, banks are transformed from mitigation mechanisms to amplifiers of changes in economic activity potentially affecting...

Persistent link: https://www.econbiz.de/10009391600

Bank incentives and optimal CDOs

Pagès, H. - Banque de France - 2009

The paper examines a delegated monitoring problem between investors and a bank holding a portfolio of correlated loans displaying “contagion.” Moral hazard prevents the bank from monitoring continuously unless it is compensated with the right incentive-compatible contract. The asset pool is...

Persistent link: https://www.econbiz.de/10008531418

Predicting Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics

Coffinet, J.; Pop, A.; Tiesset, M. - Banque de France - 2010

a stressed environment and their usefulness from a banking supervision perspective. One pool of relevant information …

Persistent link: https://www.econbiz.de/10008765720

Two-way interplays between capital buffers, credit and output: evidence from French banks

Coffinet, J.; Coudert, V.; Pop, A.; Pouvelle, C. - Banque de France - 2011

We assess the extent to which capital buffers (the capital banks hold in excess of the regulatory minimum) exacerbate rather than reduce the cyclical behavior of credit. We empirically study the relationships between output gap, capital buffers and loan growth with firm-level data for French...

Persistent link: https://www.econbiz.de/10008838444

Banking Transformation (1989 - 2006) in Central and Eastern Europe - With Special Reference to Balkans

Barisitz, Stephan - Bank of Greece - 2008

This paper provides an overview of the history of banking transition (1989-2006) in 13 CEE countries – with particular emphasis on four relatively large Balkan countries (Bulgaria, Croatia, Romania, Serbia and Montenegro). Two “banking reform waves” are distinguished, salient features of...

Persistent link: https://www.econbiz.de/10005523500

Cost Efficiency in Greek Banking

Kamberoglou, Nicos C.; Liapis, Elias; Simigiannis, George T. - Bank of Greece - 2004

TThis study uses the distribution free approach to investigate cost efficiency in a panel of Greek banks over 1993-1999, a period characterized by major changes in the banking sector brought about by gradual financial deregulation. These reforms were supposed to provide an opportunity to Greek...

Persistent link: https://www.econbiz.de/10005523510

BASEL III: Long-term impact on economic performance and fluctuations

Angelini, P.; Clerc, L.; Cúrdia, V.; Gambacorta, L.; … - Banque de France - 2011

reduced frequency and severity of financial crisis, analysed in Basel Committee on Banking Supervision (BCBS, 2010b). (2) The …

Persistent link: https://www.econbiz.de/10008873321

Firms and the global crisis: French exports in the turmoil.

Bricongne, J-C.; Fontagné, L.; Gaulier, G.; Taglioni, D.; … - Banque de France - 2009

The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mostly been analysed at the macroeconomic or sectoral level. However, heterogeneous exporters in terms of productivity, size or external finance dependence should be hit differently by...

Persistent link: https://www.econbiz.de/10008503207