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Bank interest rates in a small European economy: Some exploratory macro level analyses using Finnish data

Kauko, Karlo - EconWPA - 2005

This paper presents econometric analyses on the determination of bank deposit and lending rates using longitudinal Finnish data. Interest rate pass-through is very strong, possibly complete, in the case of lending rates; in the case of deposit rates the pass-through is far from complete, even in...

Persistent link: https://www.econbiz.de/10005134950

Financial Crisis and Credit Crunch as a Result of Inefficient Financial Intermediation—with Reference to the Asian Financial Crisis

Chan-Lau, Jorge A.; Chen, Zhaohui - EconWPA - 1998

This paper develops a new model of international private debt financing. It shows the possibility of discontinuity in the amount of financial intermediation when the intermediary is inefficient. The model suggests a mechanism that can generate the following sequence of events: A period of...

Persistent link: https://www.econbiz.de/10005119443

Boom In, Bust Out: Young Households and the Housing Price Cycle

Ortalo-Magne, Francois; Rady, Sven - EconWPA - 1998

The UK experienced a major residential real estate boom-bust cycle from the mid-Eighties to the mid-Nineties, accompanied by unprecedented shifts in the owner occupancy rate of young households. Previous empirical analyses have pointed toward income changes and financial deregulation as the...

Persistent link: https://www.econbiz.de/10005076946

Housing Market Fluctuations in a Life-Cycle Economy with Credit Constraints

Ortalo-Magne, Francois; Rady, Sven - EconWPA - 1998

This paper presents a first step towards a new theory of housing market fluctuations. We develop a life-cycle model where agents face credit constraints and their housing consumption is restricted to a discrete set of possibilities. The market interaction of young credit constrained agents...

Persistent link: https://www.econbiz.de/10005134801

Housing Prices, Bank Lending, and Monetary Policy

Greef, Irene de; Haas, Ralph de - EconWPA - 2002

In order to gain more insight into the relationship between housing prices and mortgage lending, we estimate models for … both the Dutch housing and the mortgage market. The empirical analysis presented in this paper offers support for the … hypothesis that in the Netherlands housing prices and mortgage lending are interdependent. According to our model, housing prices …

Persistent link: https://www.econbiz.de/10005412625

Expectations, Bond Yields and Monetary Policy

Chun, Albert Lee - EconWPA - 2005

Through explicitly incorporating analysts' forecasts as observable factors in a dynamic arbitrage- free model of the yield curve, this paper proposes a framework for studying the impact of shifts in market sentiment on interest rates of all maturities. An empirical examination reveals that...

Persistent link: https://www.econbiz.de/10005076986

Collateral Constraints in a Monetary Economy

Cordoba, Juan Carlos; Ripoll, Marla - EconWPA - 2003

This paper studies the role of collateral constraints in transforming small monetary shocks into large persistent output fluctuations. We do this by introducing money in the heterogeneous-agent real economy of Kiyotaki and Moore (1997). Money enters in a cash-in-advance constraint and is...

Persistent link: https://www.econbiz.de/10005126270

The CNB’s Policy Decisions – Are They Priced in by the Markets?

Navrátil, David; Kotlán, Viktor - EconWPA - 2005

This paper asks to what extent the market prices in the future monetary policy decisions of the Czech National Bank (CNB), how this policy predictability has evolved over time, and whether the change in the central bank’s forecasting methodology in mid-2002 had any impact. Using a sample up to...

Persistent link: https://www.econbiz.de/10005561116

Liquidity Trap Prevention and Escape: A Simple Proposition

Cai, Junning - EconWPA - 2004

Liquidity traps occur when the natural nominal interest rate becomes negative. In a model with capital price dynamics explicitly considered, we find that shocks in the future can cause current and lasting liquidity traps. We propose that the central bank can prevent or fix liquidity traps by...

Persistent link: https://www.econbiz.de/10005561118

SAVINGS MOBILIZATION ROLE OF NIGERIAN COMMERCIAL BANKS:AN ANALYTICAL POLICY STUDY

NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2003

CAPITAL ACCUMULATION HAS BEEN EMPHASISED AS THE MAJOR FACTOR GOVERING THE RATE OF DEVELOPMENT. THIS STUDY THEREFORE AIMS EXPLORING IN THE LIGHT OF PAST TRENDS, THE ROLE AND SCOPE OF COMMERCIAL BANKS AS FINANCIAL INTERMEDIARIES IN MOBILIZING DOMESTIC SAVINGS FOR DEVELOPMENT AND THE CONSTRAINTS IN...

Persistent link: https://www.econbiz.de/10005076971

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