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'By a Silken Thread': Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - CESifo - 2013

How do financial development and financial integration interact? We focus on Japan’s Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...

Persistent link: https://www.econbiz.de/10010607005

Interest Rate Pass-Through and Monetary Policy Asymmetry: A Journey into the Caucasian Black Box

Jamilov, Rustam; Egert, Balazs - CESifo - 2013

This paper analyses the interest rate pass-through for five economies of the Caucasus – Armenia, Azerbaijan, Georgia, Kazakhstan, and Russia. Employing an autoregressive distributed lag (ARDL) specification to monthly data, we find that the interest rate pass-through is systematically...

Persistent link: https://www.econbiz.de/10010627566

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

Efing, Matthias; Hau, Harald; Kampkötter, Patrick; … - CESifo - 2014

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

Persistent link: https://www.econbiz.de/10010948831

Forecasting Tail Risks

Nicolò, Gianni De; Lucchetta, Marcella - CESifo - 2015

Reliable early warning signals are essential for timely implementation of macroeconomic and macro-prudential policies. This paper presents an early warning system as a set of multi-period forecasts of indicators of tail real and financial (systemic) risks. Forecasts are obtained from: (a)...

Persistent link: https://www.econbiz.de/10011212072

Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany

Buch, Claudia M.; Prieto, Esteban - CESifo - 2012

of increased bank capital in terms of reduced loans could be substantial, there are good reasons to believe that the … between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of … the German economy for the past 60 years. We find no evidence for a negative impact of bank capital on business loans. …

Persistent link: https://www.econbiz.de/10010552440

Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis

Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - CESifo - 2013

The aim of this paper is to investigate the long run relationship between the development of banks and stock markets and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence to test the number of cointegrating vectors among these...

Persistent link: https://www.econbiz.de/10010723543

Government Guarantees and Bank Risk Taking Incentives

Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - CESifo - 2014

This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of …

Persistent link: https://www.econbiz.de/10010752789

Consumption, Wealth and Business Cycles in Germany

Hamburg, Britta; Hoffmann, Mathias; Keller, Joachim - CESifo - 2005

the long-run. We offer an explanation of this finding that emphasizes differences between the bank-based German financial …

Persistent link: https://www.econbiz.de/10005765943

Firm Performance, Financial Institutions and Corporate Governance in the Netherlands

Chirinko, Robert S.; Ees, Hans van; Garretsen, Harry; … - CESifo - 1999

is a direct positive link between share o wnership by banks and the firms` short-term bank loans, which indicates the …

Persistent link: https://www.econbiz.de/10005766022

Early Warning System for Economic and Financial Risks in Kazakhstan

Bhattacharyay, Biswa N.; Dlugosch, Dennis; Kolb, Benedikt; … - CESifo - 2009

This paper proposes a macro-prudential financial soundness analysis that can be used by most developing and transformation countries with or without crisis experience as well as by developed countries with limited data. The objective is to detect economic and financial sector vulnerability,...

Persistent link: https://www.econbiz.de/10008534036