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Central Bank Policy and the Concentration of Risk : Empirical Estimates
Coimbra, Nuno; Kim, Daisoon; Rey, Hélène - National Bureau of Economic Research - 2021
Before the 2008 crisis, the cross-sectional skewness of banks' leverage went up and macro risk concentrated in the balance sheets of large banks. Using a model of profit-maximizing banks with heterogeneous Value-at-Risk constraints, we extract the distribution of banks' risk-taking parameters...
Persistent link: https://www.econbiz.de/10012585391
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A Framework for Monetary and Banking Analysis
Fischer, Stanley - 1982
The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their...
Persistent link: https://www.econbiz.de/10012478171
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The Founding of the Federal Reserve, the Great Depression and the Evolution of the U.S. Interbank Network
Jaremski, Matthew S. - 2019
Financial network structure is an important determinant of systemic risk. This paper examines how the U.S. interbank network evolved over a long and important period that included two key events: the founding of the Federal Reserve and the Great Depression. Banks established connections to...
Persistent link: https://www.econbiz.de/10012479982
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Beyond the Balance Sheet Model of Banking : Implications for Bank Regulation and Monetary Policy
Buchak, Greg - 2018
Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of … document the limits of the shadow bank substitution margin: shadow banks substitute for traditional--deposit-taking--banks in … quantitative consequences of several policies on lending volume and pricing, bank stability, and the distribution of consumer …
Persistent link: https://www.econbiz.de/10012480801
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The Case for a Populist Banker
Velasco, Andres - 1998
and central bank conservatism on economic performance. Several striking conclusions emerge. In relatively centralized … of central bank conservatism. A radical-populist central banker who cares not at all about inflation (alternatively, who …
Persistent link: https://www.econbiz.de/10012472011
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Fertility, Migration, and Altruism
Berman, Eli - 2000
Consider migration to a higher income region as a human capital investment in which parents bear migration costs and children share returns. Migrants from a population with heterogeneous intergenerational discount rates will be self-selected on intergenerational altruism. Thus, immigrants may be...
Persistent link: https://www.econbiz.de/10012471230
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Autopsy on an Empire : Understanding Mortality in Russia and the Former Soviet Union
Brainerd, Elizabeth - 2004
Male life expectancy at birth fell by over six years in Russia between 1989 and 1994. Many other countries of the former Soviet Union saw similar declines, and female life expectancy fell as well. Using cross-country and Russian household survey data, we assess six possible explanations for this...
Persistent link: https://www.econbiz.de/10012467821
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Border Delays and Trade Liberalization
Cudmore, Edgar - 2003
Delays at the border for customs clearance are seemingly a central feature of the trade regime in the CIS states. Here, we argue that with queuing costs being endogenously determined in such circumstances tariff liberalization (even in the small economy case) can be welfare worsening since...
Persistent link: https://www.econbiz.de/10012469218
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Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences
Sachs, Jeffrey D. - 1996
During the past five years, there has been an important debate over the differing styles of market reforms in the formerly planned economies in East Asia versus Eastern Europe and the former Soviet Union (EEFSU). This paper puts forward three related propositions. First, the rapid growth of East...
Persistent link: https://www.econbiz.de/10012473460
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Which Peers Matter? The Relative Impacts of Collaborators, Colleagues, and Competitors
Borjas, George J. - 2014
Many economists believe knowledge production generates positive spillovers among knowledge producers. The available evidence, however, is mixed. We argue that spillovers can exist along three dimensions (idea, geographic, and collaboration space). To isolate the key channel through which...
Persistent link: https://www.econbiz.de/10012458638