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Monetary policy and the theory of the risk-averse bank

Stiglitz, Joseph; Greenwald, Bruce - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078332

Bank capital requirements and incentives for lending

Jacklin, Charles - Federal Reserve Bank of San Francisco - 1993

Persistent link: https://www.econbiz.de/10005078315

Empirical analysis of corporate credit lines

Jiménez, Gabriel; Lopez, Jose A.; Saurina, Jesús - Federal Reserve Bank of San Francisco - 2007

Since bank credit lines are a major source of corporate funding and liquidity, we examine the determinants of credit … line usage with a database of Spanish corporate credit lines. A line's default status is the primary factor driving its … monitoring in firms' usage decisions. Credit line usage is found to be inversely related to macroeconomic conditions. Overall …

Persistent link: https://www.econbiz.de/10005712196

EAD calibration for corporate credit lines

Jiménez, Gabriel; Lopez, Jose A.; Saurina, Jesús - Federal Reserve Bank of San Francisco - 2009

Managing the credit risk inherent to a corporate credit line is similar to that of a term loan, but with one key … default (LGD). However, since a credit line allows the borrowers to draw down the committed funds according to their own needs … corporate lending within Spain over the last 20 years, provides the most comprehensive overview of corporate credit line use and …

Persistent link: https://www.econbiz.de/10005498399

The bond yield "conundrum" from a macro-finance perspective

Rudebusch, Glenn D.; Swanson, Eric T.; Wu, Tao - Federal Reserve Bank of San Francisco - 2006

In 2004 and 2005, long-term interest rates remained remarkably low despite improving economic conditions and rising short-term interest rates, a situation that former Fed Chairman Alan Greenspan dubbed a "conundrum." We document the extent and timing of this conundrum using two empirical...

Persistent link: https://www.econbiz.de/10005361531

When is inflation low?

Poole, William - Federal Reserve Bank of San Francisco - 1994

Recent research has clarified the nature of measurement errors in U.S. price indexes. Changes in the quality of goods create severe problems. Laspeyres-type indexes suffer from substitution bias from one good to another and from one type of outlet to another. Available evidence suggests that the...

Persistent link: https://www.econbiz.de/10005078247

The monetary transmission mechanism: an empirical framework

Taylor, John B. - Federal Reserve Bank of San Francisco - 1995

This paper describes an empirical framework for analyzing the monetary transmission mechanism through which changes in monetary policy affect real GDP and inflation. The framework reflects the work of a large number of empirical researchers who have built econometric models of the impacts of...

Persistent link: https://www.econbiz.de/10005078259

Monetary "targeting" in Japan and the U.S.: which is more accurate?

Hutchison, Michael M.; Judd, John P. - Federal Reserve Bank of San Francisco - 1987

This paper examines the issue of whether differences in money targeting or base-drift procedures between Japan and the U.S. are significant contributing factors to Japan's superior macroeconomic performance over the last decade, and concludes that these procedures probably are not important...

Persistent link: https://www.econbiz.de/10005078266

Velocity in the 1980s: an analysis of interactions among monetary components

Judd, John P.; Trehan, Bharat - Federal Reserve Bank of San Francisco - 1987

We use vector autoregressions to examine the behavior of the velocities of alternative monetary aggregates, focusing on the role of disinflation and deregulation during the 1980s. By estimating a single system that contains income, prices, interest rates and the components of M3, we are able to...

Persistent link: https://www.econbiz.de/10005078276

The demand for money: where do we stand?

Judd, John P.; Motley, Brian; Trehan, Bharat - Federal Reserve Bank of San Francisco - 1988

Persistent link: https://www.econbiz.de/10005078279