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Foreign bank entrants into emerging markets are usually thought to improve the condition and performance of acquired institutions, and more generally to enhance local financial stability. We use bank-specific data for a range of Latin American countries since the mid-1990s to address elements of...
Persistent link: https://www.econbiz.de/10001630856
We examine the relationship between monetary policy operations and interbank borrowing and lending of funds using sovereign bonds as collateral. We first establish that, in the precrisis period, there are important but rather weak relations between these funding sources and that this...
Persistent link: https://www.econbiz.de/10010732481
-sectional differences in response to liquidity risk depend on the banks’ shares of core deposit funding. By contrast, differences across …While the balance sheet structure of U.S. banks influences how they respond to liquidity risks, the mechanisms for the … global banks (those with foreign affiliates) are associated with ex ante liquidity management strategies as reflected in …
Persistent link: https://www.econbiz.de/10010784189
studies conducted in eleven countries to explore liquidity risk transmission. Among the main results is, first, that … management across global banks can be important for liquidity risk transmission into lending. Fourth, there is substantial … financial crisis. Yet we know little about the actual magnitudes and mechanisms for transmission of liquidity shocks through …
Persistent link: https://www.econbiz.de/10010784190
Many of the lessons from foreign direct investment (FDI) research on manufacturing and extractive resource industries are applicable to FDI research on the financial sector. This paper summarizes the main findings and policy themes of FDI research, with a primary focus on the implications of FDI...
Persistent link: https://www.econbiz.de/10002101424
Remarks before the Money Marketeers of New York University, New York City
Persistent link: https://www.econbiz.de/10010732462
This paper explores financial stability policies for the shadow banking system. I tie policy options to economic mechanisms for shadow banking that have been documented in the literature. I then illustrate the role of shadow bank policies using three examples: agency mortgage real estate...
Persistent link: https://www.econbiz.de/10010751388
We present a dynamic over-the-counter model of the fed funds market, and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also investigate the implications of changes in the...
Persistent link: https://www.econbiz.de/10010751389
Remarks before the Money Marketeers of New York University, New York City
Persistent link: https://www.econbiz.de/10010748394
The sensitivity of housing demand to mortgage rates and available leverage is key to understanding the effect of monetary and macroprudential policies on the housing market. However, since there is generally no exogenous variation in these variables that is independent of confounding factors...
Persistent link: https://www.econbiz.de/10011093791