Similar Search Results

Housing Prices, Mortgage Interest Rates and the Rising Share of Capital Income in the United States

La Cava, Gianni - 2016

Piketty (2014) documents how the share of aggregate income going to capital in the United States has risen in the post-war era. Rognlie (2015) has since shown that this is largely due to the housing sector. This paper explores the determinants of the secular rise in the share of housing capital...

Persistent link: https://www.econbiz.de/10012986259

Can Non-Interest Rate Policies Stabilise Housing Markets? Evidence from a Panel of 57 Economies

Kuttner, Kenneth N. - 2014

Using data from 57 countries spanning more than three decades, this paper investigates the effectiveness of nine non-interest rate policy tools, including macroprudential measures, in stabilising house prices and housing credit. In conventional panel regressions, housing credit growth is...

Persistent link: https://www.econbiz.de/10013058585

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 … mortgage amounts. The full partial correlation of 0.78% suggests also positive feedback from mortgage volumes to house prices …. While we find higher house prices to increase mortgage demand, banks respond if anything with fewer offers and higher rates …

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

The Influence of Monetary Policy on Bank Profitability

Borio, Claudio E. V. - 2015

This paper investigates how monetary policy affects bank profitability. We use data for 109 large international banks headquartered in 14 major advanced economies for the period 1995-2012. Overall, we find a positive relationship between the level of short-term rates and the slope of the yield...

Persistent link: https://www.econbiz.de/10013014487

The Impact of Unconventional Monetary Policies on Retail Lending and Deposit Rates in the Euro Area

Hofmann, Boris - 2020

This paper investigates the overall effect of the European Central Bank's (ECB's) unconventional monetary policies (UMPs) implemented since 2008 on euro area bank retail lending and deposit rates offered to households and non-financial corporations. To do so, we use an analytical approach that...

Persistent link: https://www.econbiz.de/10012837534

Euro Area Unconventional Monetary Policy and Bank Resilience

Avalos, Fernando H. - 2019

This paper examines whether euro area unconventional monetary policies have affected the loss-absorbing buffers (that is the resilience) of the banking industry. We employ various measures to capture the effect of the broad array of programmes used by the ECB to implement balance sheet policies,...

Persistent link: https://www.econbiz.de/10012896703

Transmitting Global Liquidity to East Asia : Policy Rates, Bond Yields, Currencies and Dollar Credit

He, Dong - 2014

We review extant work on the transmission of monetary policy, both conventional and unconventional, of the major advanced economies to East Asia through monetary policy reactions, integrated bond markets and induced currency appreciation. We present new results on the growth of foreign currency...

Persistent link: https://www.econbiz.de/10013059558

Why Did Bank Lending Rates Diverge from Policy Rates after the Financial Crisis?

Illes, Annamaria - 2015

The global finance crisis prompted central banks in many countries to cut short-term policy rates to near zero levels. Yet, lending rates did not fall as much as the decline in policy rates would have suggested. We argue that comparing lending rates to policy rates is misleading: banks do not...

Persistent link: https://www.econbiz.de/10013028279

Monetary Policy Hysteresis and the Financial Cycle

Rungcharoenkitkul, Phurichai - 2019

This paper studies the interaction between monetary policy and macroeconomic stability in a model with two distinguishing features. First, financing - cash flows - underpins all economic activity, with banks generating deposits by granting loans. Money is non-neutral as the policy interest rate...

Persistent link: https://www.econbiz.de/10012861838

Capital Regulation, Risk-Taking and Monetary Policy : A Missing Link in the Transmission Mechanism?

Borio, Claudio E. V. - 2013

Few areas of monetary economics have been studied as extensively as the transmission mechanism. The literature on this topic has evolved substantially over the years, following the waxing and waning of conceptual frameworks and the changing characteristics of the financial system. In this paper,...

Persistent link: https://www.econbiz.de/10012710837

1
2
3
4
5
6
7
8
9
10
Next
Last