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Collateral-Based Lending in Emerging Markets: Evidence from Thailand
Menkhoff, Lukas; Neuberger, Doris; Suwanaporn, Chodechai - EconWPA - 2005
This paper examines the role and determinants of collateral in emerging markets compared to mature ones. Analyzing a … higher there than in developed markets. Thai banks use collateral primarily to reduce the higher credit risks of small and … relatively young firms. Long credit relationships do not reduce collateral requirements by lowering information asymmetry. Market …
Persistent link: https://www.econbiz.de/10005134744
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Industry Effects of Monetary Policy in Germany
Hayo, Bernd - EconWPA - 1999
This paper is on monetary policy transmission. First, it asks the question whether industries are affected differently by monetary policy shocks. Here both output and price effects are compared. Second, some industry characteristics are explored which may help to understand the existence of...
Persistent link: https://www.econbiz.de/10005561233
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Report on a Right of Use for Collateral Takers and Custodians
Keijser, Thomas; ed. - EconWPA - 2003
The Report on a Right of Use for Collateral Takers and Custodians examines on what basis collateral takers can dispose … of the assets of collateral providers, and custodians of those of their clients. The report describes the current legal … (Collateral Directive, Investment Services Directive). The report contains a Tax Appendix. …
Persistent link: https://www.econbiz.de/10005126022
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Insolvency and Economic Development:Regional Variation and Adjustment
Fabling, Richard; Grimes, Arthur - EconWPA - 2004
economic activity and regional property values (the latter representing collateral effects) reduce regional insolvencies. An …
Persistent link: https://www.econbiz.de/10005407642
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Collateral, Access to Credit, and Investment in Bulgaria, chap. 8 in D. Jones and J. Miller (eds) THE BULGARIAN ECONOMY: LESSONS FROM REFORM DURING EARLY TRANSITION, Ashgate 97.
Bogetic, Zeljko - EconWPA - 2005
The paper measures economic loss from the problem of inadequate collateral in Bulgaria and proposes solutions …
Persistent link: https://www.econbiz.de/10005561596
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Monetary Transmission in the Euro Area: A Factor Model Approach
Sala, Luca - EconWPA - 2002
This paper studies the transmission of common monetary shocks across European countries by using a dynamic factor model (Forni-Reichlin (1998)). This technique allows to extract the common European monetary shock and to compute country-specific responses. Our identification employs rotations of...
Persistent link: https://www.econbiz.de/10005076808
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The Role of the Housing Market in Monetary Transmission
Vadas, Gabor; Kiss, Gergely - EconWPA - 2005
As part of the monetary transmission studies of the Magyar Nemzeti Bank, this paper attempts to analyse the role of the housing market in the monetary transmission mechanism of Hungary. The housing market can influence monetary transmission through three channels, namely, the nature of the...
Persistent link: https://www.econbiz.de/10005125023
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Three Financing Constraint Hypotheses and Inventory Investment: New Tests With Time and Sectoral Heterogeneity
Carpenter, Robert E.; Fazzari, Steven M.; Petersen, Bruce C. - EconWPA - 1995
hypotheses- -the bank lending, collateral, and internal finance hypotheses. To discriminate between hypotheses, we extend …
Persistent link: https://www.econbiz.de/10005126449
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Cross-country asymmetries in euro area monetary transmission: the role of national financial systems
Putkuri, Hanna - EconWPA - 2004
Since 1 January 1999 the ECB has conducted a single monetary policy in the euro area, but the mechanisms by which and the extent to which monetary shocks are transmitted into prices and real economic activity may vary from country to country. This paper investigates how and to what extent the...
Persistent link: https://www.econbiz.de/10005412657
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Is there a cost channel of monetary policy transmission? An investigation into the pricing behavior of 2,000 firms
Gaiotti, Eugenio; Secchi, Alessandro - EconWPA - 2004
The paper exploits a unique panel, covering some 2,000 Italian manufacturing firms and 14 years of data on individual prices and individual interest rates paid on several types of debt, to address the question of the existence of a channel of transmission of monetary policy operating through the...
Persistent link: https://www.econbiz.de/10005561106