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The real estate and credit bubble: Evidence from Spain

Akin, Ozlem; Montalvo, José Garcia; Villar, Jaume Garcia; … - Department of Economics and Business, Universitat … - 2014

mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the … appraisal and market price) at the mortgage level, matched with borrower characteristics (such as income, labor status and … results suggest too soft lending standards and excessive risk-taking in the boom. For example, mortgage spreads for non …

Persistent link: https://www.econbiz.de/10010796201

Interbank liquidity crunch and the firm credit crunch: Evidence from the 2007-2009 crisis

Iyer, Rajkamal; Da-Rocha-Lopes, Samuel; Peydró, José-Luis - Department of Economics and Business, Universitat … - 2013

We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction...

Persistent link: https://www.econbiz.de/10010659465

Macroprudential policy, countercyclical bank capital buffers and credit supply: Evidence from the Spanish dynamic provisioning experiments

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - Department of Economics and Business, Universitat … - 2012

We analyze the impact of countercyclical capital buffers held by banks on the supply of credit to firms and their subsequent performance. Spain introduced dynamic provisioning unrelated to specific bank loan losses in 2000 and modified its formula parameters in 2005 and 2008. In each case,...

Persistent link: https://www.econbiz.de/10010632801

Monitoring bank performance in the presence of risk

Epure, Mircea; Lafuente, Esteban - Department of Economics and Business, Universitat … - 2012

This paper proposes a managerial control tool that integrates risk in efficiency measures. Building on existing efficiency specifications, our proposal reflects the real banking technology and accurately models the relationship between desirable and undesirable outputs. Specifically, the...

Persistent link: https://www.econbiz.de/10010891943

Banking competition and stability: The role of leverage

Freixas, Xavier; Ma, Kebin - Department of Economics and Business, Universitat … - 2014

This paper reexamines the classical issue of the possible trade-offs between banking competition and financial stability by highlighting different types of risk and the role of leverage. By means of a simple model we show that competition can affect portfolio risk, insolvency risk, liquidity...

Persistent link: https://www.econbiz.de/10010929583

The lender of last resort: A 21st Century approach

Freixas, Xavier; Parigi, Bruno M.; Rochet, Jean-Charles - Department of Economics and Business, Universitat … - 2003

The object of this paper is to analyze rigorously the role of a Lender of Last Resort by providing a framework where the distinction between insolvency and illiquidity is not clearly cut. Determining the optimal Lender of Last Resort policy requires a careful modeling of the structure of the...

Persistent link: https://www.econbiz.de/10005771956

Regulating financial conglomerates

Freixas, Xavier; Lóránth, Gyöngyi; Morrison, Alan D. - Department of Economics and Business, Universitat … - 2005

We investigate the optimal regulation of financial conglomerates which combine a bank and a non-bank financial institution. The conglomerate’s risk-taking incentives depend upon the level of market discipline it faces, which in turn is determined by the conglomerate’s liability strucure. We...

Persistent link: https://www.econbiz.de/10005772109

Designing institutions for financial stability: Regulation and supervision by objective for the Euro area

Giorgio, Giorgio di; Noia, Carmine Di - Department of Economics and Business, Universitat … - 2000

In this paper, we discuss pros and cons of different models for financial market regulation and supervision and we present a proposal for the re-organisation of regulatory and supervisory agencies in the Euro Area. Our arguments are consistent with both new theories and effective behaviour of...

Persistent link: https://www.econbiz.de/10005772441

An overall perspective on banking regulation

Freixas, Xavier - Department of Economics and Business, Universitat … - 2003

We survey the theory of banking regulation from the general perspective of regulatory theory. Starting by considering the different justifications of financial intermediation, we proceed to identify the market failures that make banking regulation necessary. We then succinctly compare how the...

Persistent link: https://www.econbiz.de/10005704905

Private borrowing during the financial revolution: Hoare’s Bank and its customers, 1702-1724

Temin, Peter; Voth, Joachim - Department of Economics and Business, Universitat … - 2005

The financial revolution improved the British government’s ability to borrow, and thus its ability to wage war. North andWeingast argued that it also permitted private parties to borrow more cheaply and widely.We test these inferences with evidence from a London bank.We confirm that private...

Persistent link: https://www.econbiz.de/10005704946