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On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability
Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2013
Banking systems have rapidly grown to a point where for many countries bank assets amount to multiples of GDP. As a …
Persistent link: https://www.econbiz.de/10011084186
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Financial Protectionism: the First Tests
Rose, Andrew K; Wieladek, Tomasz - C.E.P.R. Discussion Papers - 2011
foreigners. We use a bank-level panel data set spanning all British and foreign banks providing loans within the United Kingdom … credit guarantees, or received capital injections. We use standard empirical panel-data techniques to study the "loan mix …," domestic (British) loans of a bank expressed as a fraction of its total loan activity. We also study effective short …
Persistent link: https://www.econbiz.de/10009024484
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A Gravity Model of International Lending: Trade, Default and Credit
Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2002
One reason why countries service their external debts is the fear that default might lead to shrinkage of international trade. If so, then creditors should systematically lend more to countries with which they share closer trade links. We develop a simple theoretical model to capture this...
Persistent link: https://www.econbiz.de/10005789181
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Information Sharing and Credit: Firm-Level Evidence from Transition Countries
Brown, Martin; Jappelli, Tullio; Pagano, Marco - C.E.P.R. Discussion Papers - 2007
panel estimates, we also control for the presence of unobserved heterogeneity at the firm level and for changes in selected …
Persistent link: https://www.econbiz.de/10005136657
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Does Interbank Borrowing Reduce Bank Risk?
Dinger, Valeriya; von Hagen, Jürgen - C.E.P.R. Discussion Papers - 2008
In this paper we investigate whether banks that borrow from other banks have lower risk levels. We concentrate on a large sample of Central and Eastern European banks which allows us to explore the impact of interbank lending when exposures are long-term and interbank borrowers are small banks....
Persistent link: https://www.econbiz.de/10005504249
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Stories of the Twentieth Century for the Twenty-First
Gourinchas, Pierre-Olivier; Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2011
effects of the twenty-first century’s first global crisis. A discrete-choice panel analysis using 1973-2010 data suggests that …
Persistent link: https://www.econbiz.de/10009201122
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Lessons from the 1930s' Great Depression
Crafts, Nicholas; Fearon, Peter - C.E.P.R. Discussion Papers - 2010
This paper provides a survey of the Great Depression comprising both a narrative account and adetailed review of the empirical evidence focusing especially on the experience of the United States. We examine the reasons for and the flawed resolution of the American banking crisis as well as the...
Persistent link: https://www.econbiz.de/10008682882
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Three Sisters: The Interlinkage between Sovereign Debt, Currency and Banking Crises
Eijffinger, Sylvester C W; Karatas, Bilge - C.E.P.R. Discussion Papers - 2013
literature. This study attempts to dive into this unexplored area by applying panel data binary choice model on a sample with 20 …
Persistent link: https://www.econbiz.de/10011084100
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Gambling for resurrection in Iceland: the rise and fall of the banks
Baldursson, Fridrik Mar; Portes, Richard - C.E.P.R. Discussion Papers - 2013
lending to the banks’ owners, although they strongly maintained otherwise in autumn 2007. Neither the FSA nor the Central Bank …
Persistent link: https://www.econbiz.de/10011084274
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A Role Model for the Conduct of Fiscal Policy? Experiences from Sweden
Flodén, Martin - C.E.P.R. Discussion Papers - 2012
Sweden was hit by a severe macroeconomic crisis in the early 1990s. GDP fell for three consecutive years in 1991-1993, unemployment increased by 9 percentage points, banks had to be nationalized, and public budget deficits exceeded 10 percent of GDP. The recovery was however quick. GDP growth...
Persistent link: https://www.econbiz.de/10011084359