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Household debt sustainability: what explains household non-performing loans? An empirical analysis

Rinaldi, Laura; Sanchis-Arellano, Alicia - European Central Bank - 2006

Sound household financial conditions are relevant for both financial and monetary stability. Therefore, we analyse household financial fragility in a sample of euro area countries with the aim to shed some light on the nature of the large debt increase accumulated in recent years. We focus on...

Persistent link: https://www.econbiz.de/10004969153

Are universal banks better underwriters? Evidence from the last days of the Glass-Steagall Act

Focarelli, Dario; Marqués-Ibáñez, David; Pozzolo, … - European Central Bank - 2011

It has often been argued during the recent credit crisis that commercial banks’ involvement in investment banking …’s restrictions. Securities underwritten by commercial banks’ subsidiaries have a higher probability of default than those … reject that the repeal of the Glass-Steagall led to looser credit screening by broad (universal) banking companies trying to …

Persistent link: https://www.econbiz.de/10008794519

How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households

van der Cruijsen, Carin; Jansen, David-Jan; de Haan, Jakob - European Central Bank - 2010

Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge on the ECB’s objectives is far from perfect. Both a...

Persistent link: https://www.econbiz.de/10008694054

The distribution of debt across euro area countries: the role of individual characteristics, institutions and credit conditions

Bover, Olympia; Casado, Jose Maria; Costa, Sonia; Du … - European Central Bank - 2014

The aim of this paper is twofold. First, we present an up-to-date assessment of the differences across euro area countries in the distributions of various measures of debt conditional on household characteristics. We consider three different outcomes: the probability of holding debt, the amount...

Persistent link: https://www.econbiz.de/10010753751

Behavioural characteristics and financial distress

McCarthy, Yvonne - European Central Bank - 2011

Using a new nationally representative survey of financial capability and experience in the UK and Ireland, I investigate the key factors that cause individuals to experience financial distress. In this context, a key area that I focus on is whether individuals’ behavioural traits, such as...

Persistent link: https://www.econbiz.de/10008854650

Who lost the most? Financial literacy, cognitive abilities, and the financial crisis

Bucher-Koenen, Tabea; Ziegelmeyer, Michael - European Central Bank - 2011

We study how and to what extent private households are affected by the recent financial crisis and how their financial decisions are influenced by this shock. Our analysis reveals that individuals with low levels of financial literacy are less likely to have invested in the stock market and thus...

Persistent link: https://www.econbiz.de/10008854654

Aggregate loans to the euro area private sector

Calza, Alessandro; Manrique, Marta; Sousa, João - European Central Bank - 2003

This paper provides new evidence on the behaviour of euro area aggregate loans to the private sector. Using a sample covering the last twenty years, a cointegrating vector linking the real stock of loans to a small set of domestic macroeconomic variables is found. Besides real GDP and prices,...

Persistent link: https://www.econbiz.de/10005344909

Output and inflation responses to credit shocks: are there threshold effects in the euro area?

Calza, Alessandro; Sousa, João - European Central Bank - 2005

This paper investigates whether output and inflation respond asymmetrically to credit shocks in the euro area. The … effects related to credit conditions in the economy. Consistent with this finding, the impulse responses show some signs of …

Persistent link: https://www.econbiz.de/10005816303

Housing, consumption and monetary policy: how different are the US and the euro area?

Musso, Alberto; Neri, Stefano; Stracca, Livio - European Central Bank - 2010

, (ii) credit supply and (iii) housing demand shocks on the housing market and the broader economy. We find that … clearcut for housing demand shocks. We also find that credit supply shocks matter more in the euro area. JEL Classification: E …

Persistent link: https://www.econbiz.de/10008541287

Bubbles, bank credit and macroprudential policies

Derviz, Alexis - European Central Bank - 2013

macroprudential policy is represented by a convex dependence of bank capital requirements on the quantity of uncollateralized credit … welfare contribution of the latter would depend on the aggregate default costs. JEL Classification: G01, G21, G12, E22, D82 …

Persistent link: https://www.econbiz.de/10010686763