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Global Liquidity, Risk Premiums and Growth Opportunities

Nicoló, Gianni De; Ivaschenko, Iryna V. - International Monetary Fund (IMF) - 2009

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging … evidence of an historical increase in market liquidity since the early 1990s, in part as a result of advances in international … financial integration, but markets have been increasingly exposed to global systemic liquidity shocks. Second, liquidity …

Persistent link: https://www.econbiz.de/10005826494

Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking

Nicoló, Gianni De; Gamba, Andrea; Lucchetta, Marcella - International Monetary Fund (IMF) - 2012

liquidity risk. We find an inverted U-shaped relationship between capital requirements and bank lending, efficiency, and welfare …, with their benefits turning into costs beyond a certain requirement threshold. By contrast, liquidity requirements reduce … lending, efficiency and welfare significantly. The costs of high capital and liquidity requirements represent a lower bound on …

Persistent link: https://www.econbiz.de/10011142059

Externalities and Macroprudential Policy

Nicoló, Gianni De; Favara, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2012

This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the...

Persistent link: https://www.econbiz.de/10011142226

Financial Integration and Risk-Adjusted Growth Opportunities

Ivaschenko, Iryna V.; Nicoló, Gianni De - International Monetary Fund (IMF) - 2008

improvements in the liquidity of equity markets. …

Persistent link: https://www.econbiz.de/10005263723

Bank Consolidation, Internationalization and Conglomeration; Trends and Implications for Financial Risk

Nicoló, Gianni De; Zephirin, M. G.; Bartholomew, Philip F. - International Monetary Fund (IMF) - 2003

This paper documents global trends in bank activity, consolidation, internationalization, and financial firm conglomeration, and explores the extent to which financial firm risk and systemic risk potential in banking are related to consolidation and conglomeration. We find that while there is a...

Persistent link: https://www.econbiz.de/10005253000

Financial Reforms, Financial Openness, and Corporate Borrowing; International Evidence

Detragiache, Enrica; Nicoló, Gianni De; Agca, Senay - International Monetary Fund (IMF) - 2007

We study how credit market deregulation and increased international financial openness have changed corporate borrowing. The evidence comes from a large panel of publicly traded firms in 38 countries over the period 1994-2002. Reforms are measured with a comprehensive new index that tracks six...

Persistent link: https://www.econbiz.de/10005263812

Financial Stability in Dollarized Economies

Gulde, Anne Marie; Hoelscher, David S.; Ize, Alain; … - International Monetary Fund (IMF) - 2004

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The studyâ€™s conclusions are the basis of an ongoing policy dialogue with IMF member...

Persistent link: https://www.econbiz.de/10005824860