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The Countercyclical Capital Buffer and the Composition of Bank Lending

Auer, Raphael - 2019

Do macroprudential regulations on residential lending influence commercial lending behavior too? To answer this question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential mortgages on which extra capital requirements were...

Persistent link: https://www.econbiz.de/10012861456

Macroprudential Policy and the Sovereign-Bank Nexus in the Euro Area

Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2021

We explore how changes in capital-based macroprudential regulation in the euro area affect the exposure of national banking sectors to domestic government debt, thus strengthening or weakening the sovereign-bank nexus. To do so, we construct a measure of macroprudential policy based on the...

Persistent link: https://www.econbiz.de/10013324211

Price Effects of the Austrian Fuel Price Fixing Act : A Synthetic Control Study

Becker, Maike; Pfeifer, Gregor; Schweikert, Karsten - 2021

whether they indeed help lower the overall fuel price level is unclear. In this paper, we study the effect of Austria’s Fuel … estimate Austria’s price trends in absence of the intervention. Our empirical results suggest, that immediately after the Fuel … prices appears to be less pronounced and amounts to 6.6% lower prices. Austria’s fuel price regulation seems to have been …

Persistent link: https://www.econbiz.de/10013250741

Designing Instrument Packages for the Low-Carbon Transition : An Evaluation Framework with an Application to Austria

van der Werf, Edwin; Vollebergh, Herman R.J; Vogel, Johanna - 2021

commercial (buildings) sector in an ambitious country, Austria …

Persistent link: https://www.econbiz.de/10013217087

A Monetary Equilibrium with the Lender of Last Resort

Matsuoka, Tarishi; Watanabe, Makoto - 2023

This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of a bank’s monetary reserves (a liquidity crisis) occurs endogenously. We show that discount window lending by the LLR is welfare-improving but reduces banks’ ex-ante incentive to hold monetary...

Persistent link: https://www.econbiz.de/10014356320

Banking Panics and the Lender of Last Resort in a Monetary Economy

Matsuoka, Tarishi - 2019

This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of bank’s monetary reserves (or a banking panic) occurs endogenously. We show that while a discount window policy introduced by the LLR is welfare improving, it reduces the banks’ ex ante...

Persistent link: https://www.econbiz.de/10012892137

Voluntary Equity, Project Risk, and Capital Requirements

Haufler, Andreas; Lülfesmann, Christoph - 2022

We introduce a model of the banking sector that formally incorporate a buffer function of capital. Heterogeneous banks choose their portfolio risk, bank size, and capital holdings. Banks voluntarily hold equity when the buffer effect against the risk of default outweighs the cost advantages of...

Persistent link: https://www.econbiz.de/10013308111

The Long-Term Effects of Capital Requirements

De Nicolo, Gianni; Klimenko, Nataliya; Pfeil, Sebastian; … - 2021

We build a stylized dynamic general equilibrium model with financial frictions to analyze costs and benefits of capital requirements in the short-term and long-term. We show that since increasing capital requirements limits the aggregate loan supply, the equilibrium loan rate spread increases,...

Persistent link: https://www.econbiz.de/10013224085

Interest income tax evasion, the EU savings directive, and capital market effects

Klautke, Tina; Weichenrieder, Alfons J. - 2008

The Savings Directive has been celebrated as a major political break-through in coordinating taxation in Europe. Against this background, the present paper evaluates the real-world effects of this directive. The directive has left a loophole by providing grandfathering (exemption from...

Persistent link: https://www.econbiz.de/10010277186

Do Multinationals Transplant Their Business Model?

Marin, Dalia - 2019

What determines whether or not multinational firms transplant the mode of organisation to other countries? We embed the theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic environment may affect the decision of multinational...

Persistent link: https://www.econbiz.de/10012860290

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