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The Bank Lending Channel of Monetary Transmission; Does it Work in Turkey?
Brooks, Petya Koeva - International Monetary Fund (IMF) - 2007
on loan supply in Turkey. This suggests that the effect of monetary policy in Turkey can be propagated by the banking …
Persistent link: https://www.econbiz.de/10005248226
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Distance-To-Default in Banking; A Bridge too Far?
Sy, Amadou N. R.; Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2006
In contrast to corporate defaults, regulators typically take a number of statutory actions to avoid the large fiscal costs associated with bank defaults. The distance-to-default, a widely used market-based measure of corporate default risk, ignores such regulatory actions. To overcome this...
Persistent link: https://www.econbiz.de/10005825824
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An Option-Based Approach to Bank Vulnerabilities in Emerging Markets
Jobert, Arnaud; Kong, Janet; Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2004
We measure bank vulnerability in emerging markets using the distance-to-default, a risk-neutral indicator based on Merton's (1974) structural model of credit risk. The indicator is estimated using equity prices and balance-sheet data for 38 banks in 14 emerging market countries. Results show it...
Persistent link: https://www.econbiz.de/10005826670
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Contagion Risk in the International Banking System and Implications for London As a Global Financial Center
Chan-Lau, Jorge A.; Mitra, Srobona; Ong, Li L. - International Monetary Fund (IMF) - 2007
banking system. We test for the likelihood that an extreme shock affecting a major, systemic U.K. bank would also affect …
Persistent link: https://www.econbiz.de/10005768965
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What’S the Damage? Medium-Term Output Dynamics After Banking Crises
Abiad, Abdul; Brooks, Petya Koeva; Tytell, Irina; … - International Monetary Fund (IMF) - 2009
This paper investigates the medium-term behavior of output following banking crises, and its association with pre- and … post-crisis conditions and policies. We find that output tends to be depressed substantially following banking crises, with … associated with medium-run output losses include the short-run change in output, the occurrence of a joint banking …
Persistent link: https://www.econbiz.de/10008540924
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Regulatory Capital Charges for too-Connected-To-Fail Institutions; A Practical Proposal
Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2010
The recent financial crisis has highlighted once more that interconnectedness in the financial system is a major source of systemic risk. I suggest a practical way to levy regulatory capital charges based on the degree of interconnectedness among financial institutions. Namely, the charges are...
Persistent link: https://www.econbiz.de/10008470375
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Modeling with Macro-Financial Linkages; Credit and Policy Shocks in Emerging Markets
Benes, Jaromir; Ötker, Inci; Vávra, David - International Monetary Fund (IMF) - 2009
This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated...
Persistent link: https://www.econbiz.de/10008528675
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Balance Sheet Network Analysis of too-Connected-To-Fail Risk in Global and Domestic Banking Systems
Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2010
interconnectedness risk, under extreme adverse scenarios, in banking systems in mature and emerging market countries, and between …
Persistent link: https://www.econbiz.de/10008533227
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The Global Financial Crisis and its Impacton the Chilean Banking System
Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2010
paper concludes by assessing government measures aimed at reducing systemic risk in the domestic banking sector and the …
Persistent link: https://www.econbiz.de/10008533239
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Hong Kong SAR; Meeting the Challenges of Integration with the Mainland
Lee, William; Chan-Lau, Jorge A.; Iakova, Dora M.; Papa … - International Monetary Fund (IMF) - 2004
This Occasional Paper provides an overview of the main challenges facing Hong Kong SAR as it continues to become more closely integrated with the mainland of China. Section I provides an overview of recent macroeconomic developments and the main policy issues in Hong Kong SAR. Section II...
Persistent link: https://www.econbiz.de/10005590857