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]) or a response to variations in the aggregate volume of credit (as proposed by Christiano et al. [2007]). We then examine … in the financial sector that increase equilibrium spreads and contract the supply of credit. We conduct our analysis … using a simple DSGE model with credit frictions (Curdia and Woodford 2009), comparing the equilibrium responses to various …
Persistent link: https://www.econbiz.de/10005078433
--in particular, balance sheet constraints and counterparty credit risk. The empirical evidence supports the Fed's views on the … primacy of balance sheet constraints in the earlier stages of the crisis and the increased prominence of counterparty credit …
Persistent link: https://www.econbiz.de/10005078435
We provide an overview of data requirements necessary to monitor repurchase agreements (repos) and securities lending (sec lending) markets for the purposes of informing policymakers and researchers about firm-level and systemic risk. We start by explaining the functioning of these markets, and...
Persistent link: https://www.econbiz.de/10009421388
Shadow banks conduct credit intermediation without direct, explicit access to public sources of liquidity and credit … guarantees. Shadow banks contributed to the credit boom in the early 2000s and collapsed during the financial crisis of 2007 …
Persistent link: https://www.econbiz.de/10010551303
subsequently experienced the highest degree of financial turmoil. A progressive relaxation of credit standards can rationalize this …
Persistent link: https://www.econbiz.de/10010551311
This paper analyzes the relationship between changes in borrowers' monthly mortgage payments and future credit … an average loss given default of 35.2 percent, this lower default risk implies reduced credit losses of 134 basis points …
Persistent link: https://www.econbiz.de/10010552107
Remarks at the Securities Industry and Financial Markets Association and Pension Real Estate Association's Public-Private Investment Program Summit, New York City.
Persistent link: https://www.econbiz.de/10010724933
Remarks at Dominican College, Orangeburg, New York.
Persistent link: https://www.econbiz.de/10010724948