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Shocks to Bank Lending, Risk-Taking, Securitization, and Their Role for U.S. Business Cycle Fluctuations

Wagner, Wolf; Peersman, G. - Tilburg University, Center for Economic Research - 2014

Abstract: Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks...

Persistent link: https://www.econbiz.de/10011091756

Should we be Afraid of Friedman's Rule?

Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 2000

Persistent link: https://www.econbiz.de/10011092640

Credit Booms and Lending Standards : Evidence from the Subprime Mortgage Market

Dell’Ariccia, G.; Igan, D.; Laeven, L. - Tilburg University, Center for Economic Research - 2009

faster credit growth. We also find that the entry of new lenders contributed to the decline in lending standards. The results … on asymmetric information, and shed light on the relationship between credit booms and financial instability. …

Persistent link: https://www.econbiz.de/10011092670

Macroprudential Policy, Countercyclical Bank Capital Buffers and Credit Supply : Evidence from the Spanish Dynamic Provisioning Experiments

Jiménez, G.; Ongena, S.; Peydro, J.L.; Saurina, J. - Tilburg University, Center for Economic Research - 2012

Abstract: We analyze the impact of the countercyclical capital buffers held by banks on the supply of credit to firms … suggest that countercyclical capital buffers help smooth credit supply cycles and in bad times have positive effects on firm … credit availability, assets, employment and survival. Our findings therefore hold important implications for theory and …

Persistent link: https://www.econbiz.de/10011091652

Financial Development, Long-Term Finance and the Macroeconomy : The Role of Secondary Markets

Uras, Burak R. - Tilburg University, Center for Economic Research - 2014

The paper develops a dynamic general equilibrium model of financial markets<br/>and macroeconomy. In the model, long-term debt is extended to firms in a<br/>primary market and then traded in a secondary market among financiers. Two<br/>financial frictions that are ex-ante and ex-post with respect to the...

Persistent link: https://www.econbiz.de/10011144437

Credit Supply versus Demand : Bank and Firm Balance-Sheet Channels in Good and Crisis Times

Jimenez Porras, G.; Ongena, S.; Peydro, J.L.; Saurina, J. - Tilburg University, Center for Economic Research - 2012

Abstract: Banking crises involve periods of persistently low credit and economic growth. Banks’ balance sheets are then … weak but so are those of non-financial corporate borrowers. Hence, a crucial question is whether credit growth is low due …

Persistent link: https://www.econbiz.de/10011092853

Bank Liquidity, Interbank Markets, and Monetary Policy

Freixas, X.; Martin, A.; Skeie, D. - Tilburg University, Center for Economic Research - 2010

A major lesson of the recent financial crisis is that the interbank lending market is crucial for banks facing large uncertainty regarding their liquidity needs. This paper studies the efficiency of the interbank lending market in allocating funds. We consider two different types of liquidity...

Persistent link: https://www.econbiz.de/10011092909

The Dark Side of Bank Wholesale Funding

Huang, R.; Ratnovksi, L. - Tilburg University, Center for Economic Research - 2009

but imperfect signal on bank project quality (e.g., credit ratings, performance of peers), short-term wholesale financiers …

Persistent link: https://www.econbiz.de/10011092929

Regional Inflation, Financial Integration and Dollarization (This is a revision of CentER DP 2013-073)

de Haas, R.; Brown, M.; Sokolov, V. - Tilburg University, Center for Economic Research - 2015

to firms in non-tradable sectors. The impact of inflation on credit dollarization is weaker in regions with less …

Persistent link: https://www.econbiz.de/10011199227

The Bond Yield Conundrum : Alternative Hypotheses and the State of the Economy

Eijffinger, Sylvester; Mahieu, Ronald; Raes, Louis - Tilburg University, Center for Economic Research - 2010

We study the bond yield conundrum in a macro-finance framework. Building upon a exible and non-structural macro-finance model, we test the hypothesis that the bond yield conundrum is connected to various sources of uncertainty in the financial markets. Moreover we explicitly test for the role of...

Persistent link: https://www.econbiz.de/10011090282