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Preferential regulatory treatment and banks' demand for government bonds

Bonner, Clemens - de Nederlandsche Bank - 2014

analysis suggests that preferential treatment in liquidity and capital regulation increases banks' demand for government bonds … beyond their own risk appetite. Liquidity and capital regulation also seem to incentivize banks to substitute other bonds …

Persistent link: https://www.econbiz.de/10010812608

The Impact of the LCR on the Interbank Money Market

Bonner, Clemens; Eijffinger, Sylvester - de Nederlandsche Bank - 2012

This paper analyzes the impact of a liquidity requirement similar to the Basel 3 Liquidity Coverage Ratio (LCR) on the … banks from 2005 to 2011, we show that banks which are just above/below their short-term regulatory liquidity requirement pay … liquidity requirement's 30 day horizon. Being close to the minimum liquidity requirement induces banks to increase borrowing …

Persistent link: https://www.econbiz.de/10010757285

Did the crisis affect inflation expectations?

Galati, Gabriele; Poelhekke, Steven; Zhou, Chen - de Nederlandsche Bank - 2009

Brothers. Liquidity premia and technical factors have significantly influenced the behaviour of inflation-indexed markets since …

Persistent link: https://www.econbiz.de/10008482047

Does the clarity of inflation reports affect volatility in financial markets?

Bulíř, Aleš; Číhak, Martin; Jansen, David-Jan - de Nederlandsche Bank - 2014

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the Flesch-Kincaid grade level, a standard readability...

Persistent link: https://www.econbiz.de/10011004565

Has the Clarity of Humphrey-Hawkins Testimonies Affected Volatility in Financial Markets?

Jansen, David-Jan - de Nederlandsche Bank - 2008

By applying readability statistics to the Humphrey-Hawkins testimonies given by the Federal Reserve Chairman, I test whether the clarity of central bank communication affects volatility in financial markets. There are three key results. First, when clarity matters, the results are unequivocal:...

Persistent link: https://www.econbiz.de/10005101834

Banking across Borders

Niepmann, Friederike - de Nederlandsche Bank - 2011

This paper develops and tests a theoretical model that allows for the endogenous decision of banks to engage in international and global banking. International banking, where banks raise capital in the home market and lend it abroad, is driven by differences in factor endowments across...

Persistent link: https://www.econbiz.de/10009644843

Early warning for currency crises: what is the role of financial openness?

Frost, Jon; Saiki, Ayako - de Nederlandsche Bank - 2013

We explore the role of financial openness - capital account openness and gross capital inflows - and a newly constructed gravity-based contagion index to assess the importance of these factors in the run-up to currency crises. Using a quarterly data set of 46 advanced and emerging market...

Persistent link: https://www.econbiz.de/10010757284

Financing development: debt versus equity

Weele, Joël van der - de Nederlandsche Bank - 2005

In this paper we investigate the impact of the balance between debt and equity finance on the financial stability of developing countries. Employing extreme bounds analysis to deal with model uncertainty, we estimate a model of an exchange rate pressure index depending on various financial...

Persistent link: https://www.econbiz.de/10005101820

The Effects of Capital Inflows in Thailand, 1980-96

Jansen, W.J. - de Nederlandsche Bank - 2000

d above may also more fully apply to the Thai case, since the experience of the other countries in the region is probably tainted by contagion effects of the Thai baht crisis (Baig and Goldfajn 1999).

Persistent link: https://www.econbiz.de/10005101945

Financial Globalization and Monetary Policy

Wagner, Helmut; Berger, Wolfram - de Nederlandsche Bank - 2003

Recently, it has often been argued that globalization eases the job of central banks as it helps to tame inflation. This is used to argue that central banks (particularly the ECB, referring to the objectives as laid down in the EU-Treaty) could or should reduce their efforts in the fight against...

Persistent link: https://www.econbiz.de/10005106786