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Transmission of Monetary Policy Through Global Banks : Whose Policy Matters?

Avdjiev, Stefan - 2018

This paper explores the basic question of whose monetary policy matters for banks' international lending. In the international context, monetary policies from several countries could come into play: the lender's, the borrower's, and that of a third country, the issuer of the currency in which...

Persistent link: https://www.econbiz.de/10012912467

Higher Bank Capital Requirements and Mortgage Pricing : Evidence from the Countercyclical Capital Buffer (CCB)

Basten, Christoph - 2015

How has the CCB affected mortgage pricing after Switzerland became the first country to activate this Basel III macroprudential tool? By analyzing a database with several offers per mortgage request, we construct a picture of mortgage supply and demand. We find, first, that the CCB changes the...

Persistent link: https://www.econbiz.de/10013016439

Crises and Rescues : Liquidity Transmission Through International Banks

Buch, Claudia M. - 2016

This paper studies how global banks transmit liquidity shocks via their internal capital markets. The unexpected access of German banks' affiliates located in the United States (US) to the Federal Reserve's Term Auction Facility (TAF) serves as our liquidity shock. Using microdata on all...

Persistent link: https://www.econbiz.de/10012984410

The Causal Effect of House Prices on Mortgage Demand and Mortgage Supply : Evidence from Switzerland

Basten, Christoph - 2016

We identify the causal effect of house prices on mortgage demand and supply in Switzerland by exploiting exogenous shocks to immigration and thereby to house prices. Detailed micro data on individual requests and offers allow to close down possible other channels. We find that within the same...

Persistent link: https://www.econbiz.de/10012995805

International Prudential Policy Spillovers : A Global Perspective

Avdjiev, Stefan - 2016

a significant impact on international bank lending. Balance sheet characteristics play an important role in determining …

Persistent link: https://www.econbiz.de/10012980704

The Dollar, Bank Leverage and the Deviation from Covered Interest Parity

Avdjiev, Stefan - 2017

We document the triangular relationship formed by the strength of the US dollar, cross-border bank lending in dollars … contractions of cross-border bank lending in dollars. Differential sensitivity of CIP deviations to the strength of the dollar can … as proxy for the shadow price of bank leverage …

Persistent link: https://www.econbiz.de/10012967421