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Asymmetric Effects of the Financial Crisis; Collateral-Based Investment-Cash Flow Sensitivity Analysis
Khramov, Vadim - International Monetary Fund (IMF) - 2012
This paper uses the financial crisis of 2008 as a natural experiment to demonstrate that when measuring investment … investment-cash flow sensitivity, which decreased substantially after the crisis when banks changed their expectations about the … value of assets on firms' balance sheets. This paper deepens our understanding of firms' investment behavior. …
Persistent link: https://www.econbiz.de/10011242338
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On Brazil’s Term Structure; Stylized Facts and Analysis of Macroeconomic Interactions
Cabral, Rodrigo; Munclinger, Richard; Alves, Luiz; … - International Monetary Fund (IMF) - 2011
This paper characterizes the term structure of Treasury bond yields for Brazil, and estimates a Nelson-Siegel Model to …
Persistent link: https://www.econbiz.de/10009147330
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Italy; Assessing Competition and Efficiency in the Banking System
International Monetary Fund (IMF); International … - 2007
The paper assesses the degree of banking competition and efficiency in Italy?over time as well as compared to that in other countries, such as France, Germany, Spain, the United Kingdom, and the United States. The paper finds competition in the Italian banking sector has intensified in loan and...
Persistent link: https://www.econbiz.de/10005769248
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Assessing Bank Competition within the East African Community
Sanya, Sarah; Gaertner, Matthew - International Monetary Fund (IMF) - 2012
This paper is an empirical analysis of competitiveness in the banking system of four out of the five East African Community (EAC) countries2. The results show that the degree of competition is low due to a combination of structural and socio-economic factors. By way of preview, the analysis...
Persistent link: https://www.econbiz.de/10009650623
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Denmark; Financial Sector Assessment Program-Technical Note-Competition in the Banking Sector
International Monetary Fund (IMF); International … - 2007
This technical note analyzes the competition in the banking sector in Denmark. It reveals that Denmark has a fairly competitive and efficient banking sector. Measured by various indicators, efficiency of banking intermediation has been improving in recent years. The banking sector has become...
Persistent link: https://www.econbiz.de/10011244565
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Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking
Nicoló, Gianni De; Gamba, Andrea; Lucchetta, Marcella - International Monetary Fund (IMF) - 2012
This paper studies the impact of bank regulation and taxation in a dynamic model with banks exposed to credit and liquidity risk. We find an inverted U-shaped relationship between capital requirements and bank lending, efficiency, and welfare, with their benefits turning into costs beyond a...
Persistent link: https://www.econbiz.de/10011142059
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Addressing Information Gaps
Mulder, Christian B.; Imus, Phil De; Psalida, L. Effie; … - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10011142216
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Fixing the Fixings; What Road to a More Representative Money Market Benchmark?
Brousseau, V.; Chailloux, Alexandre; Durré, A. - International Monetary Fund (IMF) - 2013
Interest rate derivatives on major currencies, with notional outstanding amounts adding up to hundreds of trillions, are mostly indexed on Libor and Euribor benchmarks, as are hundreds of billions in loans to enterprises, mortgages and other retail loans to the real economy. Yet, the prevailing...
Persistent link: https://www.econbiz.de/10011242252
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Financing Growth in the WAEMU Through the Regional Securities Market; Past Successes and Current Challenges
Diouf, Mame Astou; Boutin-Dufresne, Francois - International Monetary Fund (IMF) - 2012
decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment …
Persistent link: https://www.econbiz.de/10011242273
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Risk Exposures and Financial Spillovers in Tranquil and Crisis Times; Bank-Level Evidence
Poirson, Hélène; Schmittmann, Jochen M. - International Monetary Fund (IMF) - 2013
For a sample of 83 financial institutions during 2003–2011, this paper attempts to answer three questions: first, what is the evolution of banks’ stock price exposure to country-level and global risk factors as approximated by equity indices; second, which bank-specific characteristics...
Persistent link: https://www.econbiz.de/10011242342