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Wealth Effects on Consumption Plans: French Households in the Crisis

Arrondel, L.; Savignac, F.; Tracol, K. - Banque de France - 2011

This paper analyzes the wealth effect on consumption in France by relying on two original household surveys. First, it … stockholders. Second, it studies how French households have adapted their consumption plans during the 2008-2009 crisis by relying … on household self-assessed changes in future consumption (survey PATER). Besides the direct wealth effect, our results …

Persistent link: https://www.econbiz.de/10009352245

Stockholding: Does housing wealth matter?

Arrondel, L.; Savignac, F. - Banque de France - 2009

The existence of an equity premium puzzle has been largely emphasized in the empirical literature: one observes low risky assets holding that the standard portfolio choice model (with expected and discounting utility and homothetic preferences) is not able to explain. Besides modifications of...

Persistent link: https://www.econbiz.de/10008503192

Can the Provision of Long-Term Liquidity Help to Avoid a Credit Crunch? Evidence from the Eurosystem's LTROs.

Andrade, P.; Cahn, C.; Fraisse, H.; Mésonnier, J-S. - Banque de France - 2015

We exploit the Eurosystem’s longer-term refinancing operations (LTROs) of 2011-2012 to analyze the effects that a large provision of central bank liquidity to banks has on the credit supply to firms. We control for credit demand by examining firms that borrow from several banks, in addition to...

Persistent link: https://www.econbiz.de/10011196012

Financial stability in the EU new Member States, acceding and candidate countries.

Diev, P.; Pouvelle, C. - Banque de France - 2008

Rapid credit growth in the EU new Member States, acceding and candidate countries has raised the issue of financial stability in the region. This rapid credit growth has been accompanied by the deterioration in the current account balance and the large-scale distribution of foreign currency...

Persistent link: https://www.econbiz.de/10009391779

Bank Capital Adjustment Process and Aggregate Lending.

Duprey, T.; Lé, M. - Banque de France - 2014

This paper proposes a new micro-founded measure to quantify the aggregate capitalisation of banking sectors taking into account both market discipline and regulatory constraints. It allows studying the connection between micro capital shortfalls from an implicit bank specific capital target and...

Persistent link: https://www.econbiz.de/10010797657

Did the EBA Capital Exercise Cause a Credit Crunch in the Euro Area?

Mésonnier, J-S.; Monks, A. - Banque de France - 2014

We exploit a unique monthly dataset of bank balance sheets to document the lending behaviour of euro area banks that were subject to the EBA's 2011/12 Capital Exercise. This exercise was announced in October 2011 and required large European banking groups to meet a higher Tier 1 capital ratio by...

Persistent link: https://www.econbiz.de/10010815982

Bank leverage shocks and the macroeconomy: a new look in a data-rich environment.

Mésonnier, J-S.; Stevanovic, D. - Banque de France - 2012

The recent crisis has revealed the potentially dramatic consequences of allowing the build-up of an overstretched leverage of the financial system, and prompted proposals by bank supervisors to significantly tighten bank capital requirements as part of the new Basel 3 regulations. Although these...

Persistent link: https://www.econbiz.de/10010816017

Did the crisis induce credit rationing for French SMEs?

Kremp, E.; Sevestre, P. - Banque de France - 2012

This paper focuses on the access of independent French SMEs to bank lending and analyzes whether the observed evolution of credit to SMEs over the recent period was "demand driven" as a result of the decrease in firms' activity and investment projects or was "supply driven" with an increase in...

Persistent link: https://www.econbiz.de/10010592256

The Real Effects of Bank Capital Requirements

Brun, M.; Fraisse, H.; Thesmar, D. - Banque de France - 2013

We measure the impact of bank capital requirements on corporate borrowing and business activity. We use loan-level data and take advantage of the transition from Basel 1 to Basel 2. While under Basel 1 the capital charge was the same for all firms, under Basel 2, it depends in a predictable way...

Persistent link: https://www.econbiz.de/10010929767

Is There a Bank lending Channel in France? Evidence From Bank Panel Data.

Loupias, C.; Savignac, F.; Sevestre, P. - Banque de France - 2002

The aim of this paper is to check the possible existence of a bank lending channel in France. For that purpose, we have estimated a dynamic reduced form model allowing for asymmetries in loan supply across banks, depending on their size, liquidity and capitalization. We have used a panel of 312...

Persistent link: https://www.econbiz.de/10005056537

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