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Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

Persistent link: https://www.econbiz.de/10011145419

Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy

Landier, Augustin; Sraer, David; Thesmar, David - C.E.P.R. Discussion Papers - 2014

We show that banks' cash flow exposure to interest rate risk, or income gap, plays a crucial role in their lending behavior following monetary policy shocks. In a first step, we show that the sensitivity of bank profits to interest rates increases significantly with their income gap, even when...

Persistent link: https://www.econbiz.de/10011145414

The Multi-Regime Bank Lending Channel and the Effectiveness of the Polish Monetary Policy Transmission During Transition

Kierzenkowski, Rafal - C.E.P.R. Discussion Papers - 2002

develop a small open-economy credit-augmented model. Under two different exchange rate arrangements, namely a fixed rate …

Persistent link: https://www.econbiz.de/10005666443

Interaction Between Monetary Policy and Regulatory Capital Requirements

Du, Chuan; Miles, David K - C.E.P.R. Discussion Papers - 2014

Banks’ behaviour can be influenced by both monetary policy and regulatory capital requirements. This paper explores the interaction between these two policy tools in promoting better lending decisions by banks. We develop and calibrate a model of bank lending to examine what an optimal...

Persistent link: https://www.econbiz.de/10011083664

Of Religion and Redemption: Evidence from Default on Islamic Loans

Baele, Lieven; Farooq, Moazzam; Ongena, Steven - C.E.P.R. Discussion Papers - 2011

Do religious beliefs affect real economic decisions? We investigate this fundamental question by comparing default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust...

Persistent link: https://www.econbiz.de/10009209832

Bubbles and Central Banks: Historical Perspectives

Brunnermeier, Markus K; Schnabel, Isabel - C.E.P.R. Discussion Papers - 2015

This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is often preceded or accompanied by an expansionary monetary...

Persistent link: https://www.econbiz.de/10011249380

Euro-Area and US Banks Behavior, and ECB-Fed Monetary Policies during the Global Financial Crisis: A Comparison

Cukierman, Alex - C.E.P.R. Discussion Papers - 2014

This paper compares the behavior of Euro-Area (EA) banks’ credit and reserves with those of US banks following … substantially higher than previously believed, in the EA). The paper shows that, although the behavior of banks’ credit following … differences in the relative importance of banking credit within the total amount of credit intermediated through banks and bond …

Persistent link: https://www.econbiz.de/10011096105

Deglobalization of Banking: The World is Getting Smaller

Van Rijckeghem, Caroline; Weder di Mauro, Beatrice - C.E.P.R. Discussion Papers - 2014

crisis and explore possible explanations. We estimate the strength of the flight home effect as the change in domestic credit …

Persistent link: https://www.econbiz.de/10011083572

Is Bank Debt Special for the Transmission of Monetary Policy? Evidence from the Stock Market

Ippolito, Filippo; Ozdagli, Ali; Perez Orive, Ander - C.E.P.R. Discussion Papers - 2013

floating-rates in bank loans and credit line agreements. …

Persistent link: https://www.econbiz.de/10011083693

Gambling for resurrection in Iceland: the rise and fall of the banks

Baldursson, Fridrik Mar; Portes, Richard - C.E.P.R. Discussion Papers - 2013

We examine the evolution of the Icelandic banking sector in its macroeconomic environment. The story culminates in the crisis of October 2008, when all three major banks in Iceland collapsed in three successive days. The country is still struggling to cope with the consequences. The paper...

Persistent link: https://www.econbiz.de/10011084274

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