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Liquidity and Transparency in Bank Risk Management

Ratnovski, Lev - International Monetary Fund (IMF) - 2013

accumulate a buffer of liquid assets, or strengthen transparency to communicate solvency. While a liquidity buffer provides … bank may choose insufficient liquidity buffers and transparency. The regulatory response is constained: while liquidity … buffers can be imposed, transparency is not verifiable. Moreover, liquidity requirements can compromise banks' transparency …

Persistent link: https://www.econbiz.de/10010790317

Externalities and Macroprudential Policy

Nicoló, Gianni De; Favara, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2012

This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the...

Persistent link: https://www.econbiz.de/10011142226

Shadow Banking; Economics and Policy

Claessens, Stijn; Ratnovski, Lev; Singh, Manmohan - International Monetary Fund (IMF) - 2012

This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.

Persistent link: https://www.econbiz.de/10011245881

Global Liquidity and Drivers of Cross-Border Bank Flows

Cerutti, Eugenio; Claessens, Stijn; Ratnovski, Lev - International Monetary Fund (IMF) - 2014

This paper provides a definition of global liquidity consistent with its meaning as the â€œease of financingâ€ in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …

Persistent link: https://www.econbiz.de/10011142075

Bailouts and Systemic Insurance

Dell'Ariccia, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2013

We revisit the link between bailouts and bank risk taking. The expectation of government support to failing banks creates moral hazard—increases bank risk taking. However, when a bank’s success depends on both its effort and the overall stability of the banking system, a government’s...

Persistent link: https://www.econbiz.de/10010790390

Financial Market Risk and U.S. Money Demand

Cook, David; Choi, Woon Gyu - International Monetary Fund (IMF) - 2007

money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling …

Persistent link: https://www.econbiz.de/10005248246

New Keynesian Exchange Rate Pass-Through

Cook, David; Choi, Woon Gyu - International Monetary Fund (IMF) - 2008

Using the theory of optimal local currency pricing, this paper constructs a structural equation to estimate the rate at …

Persistent link: https://www.econbiz.de/10005768785

Endogenous Money Supply and Money Demand

Choi, Woon Gyu; Oh, Seonghwan - International Monetary Fund (IMF) - 2000

This paper explores the behavior of money demand by explicitly accounting for the money supply endogeneity arising from endogenous monetary policy and financial innovations. Our theoretical analysis indicates that money supply factors matter in the money demand function when the money supply...

Persistent link: https://www.econbiz.de/10005604993

Monetary Transmission of Global Imbalances in Asian Countries

Lee, Il Houng; Choi, Woon Gyu - International Monetary Fund (IMF) - 2010

The paper explores the linkages between the global and domestic monetary gaps, and estimates the effects of monetary gaps on output growth, inflation, and net saving rates using panel data for 20 Asian countries for 1980-2008. We find a significant pass-through of the global monetary gap to...

Persistent link: https://www.econbiz.de/10008671301

Why Are Canadian Banks More Resilient?

Huang, Rocco; Ratnovski, Lev - International Monetary Fund (IMF) - 2009

This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a number of regulatory and structural factors in the Canadian market that reduced...

Persistent link: https://www.econbiz.de/10008528633