Showing 1 - 9 of 9
One aim of post-crisis monetary policy has been to ease credit conditions for borrowers by unlocking bank lending. We … find that bank equity is an important determinant of both the bank's funding cost and its lending growth. In a cross …-country bank-level study, we find that a 1 percentage point increase in the equity-to-total assets ratio is associated with a 4 …
Persistent link: https://www.econbiz.de/10012995164
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
channel, one bank's capital policy affects the equity value and risk of default of other banks. In a model where such … externalities are strong, bank capital takes on the attribute of a public good, where the private equilibrium features excessive … implications of the model with observed bank behavior during the crisis of 2007-09 …
Persistent link: https://www.econbiz.de/10012983304
The interest in how financial conditions affect real economic activity has grown since the Great Financial Crisis (GFC), not least because some of the mechanisms at play in the financial sector may have changed. We shed light on this issue by examining the empirical relationship between global...
Persistent link: https://www.econbiz.de/10012837535
measured risks that are driven by currency appreciation to create a feedback loop. In an empirical investigation using VAR …
Persistent link: https://www.econbiz.de/10013064175
the ages, various forms of private money have come and gone, giving way to central bank money. The reasons for the … resilience of central bank money are of particular interest given current debates about cryptocurrencies and how far they will … supplant central bank money. We draw lessons from the role of public deposit banks in the 1600s, which quelled the hyper …
Persistent link: https://www.econbiz.de/10012928137
some combination of parameters, the unique equilibrium exhibits the observed empirical feature that currency appreciation … go hand-in-hand with capital outflows and currency depreciation …
Persistent link: https://www.econbiz.de/10013001102
Recent trends toward greater central bank independence and the adoption of formal inflation targeting by several …
Persistent link: https://www.econbiz.de/10014061422
FocusThe paper examines the relationship between monetary policy and market prices through the lens of central bank … construct a self-contained quantitative analysis of central bank communication and market prices. It raises important questions … on market signals increases the effectiveness of central bank communication. In their eagerness to correctly anticipate …
Persistent link: https://www.econbiz.de/10012929426