Showing 1 - 10 of 1,058
business expectations. After controlling for the banks' refinancing costs, which are also likely to affect the supply of loans … explained by firm-specific factors nor by refinancing costs. …
Persistent link: https://www.econbiz.de/10010270873
quasi-exogenous increases in bank size in postwar Germany. I show that firms did not grow faster after their relationship … banks became bigger. In fact, opaque borrowers grew more slowly. The enlarged banks did not increase profits or efficiency …
Persistent link: https://www.econbiz.de/10013314846
How can tax policy improve financial stability? Recent studies suggest large stability gains from eliminating the debt bias in corporate taxation. It is well known that this reform reduces bank leverage. This paper analyzes a novel, complementary channel: risk taking. We model banks’ portfolio...
Persistent link: https://www.econbiz.de/10013250732
This paper analyses technical efficiency of European banks over the period 1996-2003 with unbalanced panel data …
Persistent link: https://www.econbiz.de/10010264221
Using a panel data approach with bank-fixed effects, we study the impact of Targeted Longer-Term Refinancing Operations (TLTRO) on banks' risk, given by their distance to default (DtD). The study aims to determine if the liquidity from TLTROs influences banks' risk-taking behaviour. For the...
Persistent link: https://www.econbiz.de/10014574301
We demonstrate that the impact of increases in uncertainty on bank credit conditions depends on the level of uncertainty. Using firm-level survey data, we document that a surge in business-specific uncertainty is particularly damaging when this uncertainty is low: low levels nearly triple the...
Persistent link: https://www.econbiz.de/10012425697
We demonstrate that the impact of increases in uncertainty on bank credit conditions depends on the level of uncertainty. Using firm-level survey data, we document that a surge in business-specific uncertainty is particularly damaging when this uncertainty is low: low levels nearly triple the...
Persistent link: https://www.econbiz.de/10013314750
Motivated by the world-wide surge of FinTech lending, we analyze the implications of lender' information technology adoption for financial stability. We estimate bank-level intensity of IT adoption before the global financial crisis using a novel dataset that provides information on hardware...
Persistent link: https://www.econbiz.de/10012842385
We evaluate the impact of government spending efficiency on fiscal sustainability for a panel of 35 OECD countries … revenues to changes in government spending. Next, we make use of so-called government spending efficiency scores, which … the input efficiency scores obtained, countries’ fiscal balance and fiscal sustainability is directly improved by the use …
Persistent link: https://www.econbiz.de/10013289691
We assess the consequences of fiscal consolidation episodes on public sector efficiency (scores) for 35 OECD countries … for the 2007-2020 period. We find that fiscal consolidations improve public sector efficiency and results are robust … across efficiency models. Moreover, peripheral euro-area economies and economies with debt-to-GDP ratios between 60% and 90 …
Persistent link: https://www.econbiz.de/10014083319