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Credit Market Competition and Liquidity Crises
Carletti, Elena; Leonello, Agnese - CESifo - 2014
shortage sell loans on the interbank market. Two equilibria emerge. In the no default equilibrium, all banks hold enough … reserves and remain solvent. In the mixed equilibrium, some banks default with positive probability. The former exists when …
Persistent link: https://www.econbiz.de/10010743450
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Contagion in Financial Networks: A Threat Index
Demange, Gabrielle - CESifo - 2015
should be injected during a default episode or to evaluate the impact of raising capital before the occurrence of default …
Persistent link: https://www.econbiz.de/10011257674
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Bank Networks : Contagion, Systemic Risk and Prudential Policy
Aldasoro, Iñaki - 2015
We present a network model of the interbank market in which optimizing risk averse banks lend to each other and invest in non-liquid assets. Market clearing takes place through a tâtonnement process which yields the equilibrium price, while traded quantities are determined by means of a...
Persistent link: https://www.econbiz.de/10013028909
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Financial Markets, Banks' Cost of Funding, and Firms' Decisions : Lessons from Two Crises
Balduzzi, Pierluigi - 2016
We test whether adverse changes to banks' market valuations during the financial and sovereign debt crises, and the associated increase in banks' cost of funding, affected firms' real decisions. Using new data linking over 3,000 non-financial Italian firms to their bank(s), we find that...
Persistent link: https://www.econbiz.de/10013000230
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The Transmission Mechanism of Credit Support Policies in the Euro Area
Boeckx, Jef - 2017
We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have indeed been succesful in stimulating the credit flow of...
Persistent link: https://www.econbiz.de/10012955416
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Spillovers from Systemic Bank Defaults
Mink, Mark - 2014
the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that … bank market values hardly respond to changes in the default risk of individual systemic banks. Together, however, changes … in systemic banks' default risk explain a substantial part of changes in other banks' market values. This result is …
Persistent link: https://www.econbiz.de/10013053062
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Credit Market Competition and Liquidity Crises
Carletti, Elena - 2014
shortage sell loans on the interbank market. Two equilibria emerge. In the no default equilibrium, all banks hold enough … reserves and remain solvent. In the mixed equilibrium, some banks default with positive probability. The former exists when …
Persistent link: https://www.econbiz.de/10013057257
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What If Firms Could Borrow More? Evidence from a Natural Experiment
Brown, James R. - 2015
We study the effects of a unique lending program initiated by the Swedish government at the height of the financial crisis that allowed firms to suspend payment of all labor-related taxes and fees. Comprehensive administrative data on all Swedish firms show that firms borrowing from the program...
Persistent link: https://www.econbiz.de/10013018206
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Contagion in Financial Networks : A Threat Index
Demange, Gabrielle - 2015
should be injected during a default episode or to evaluate the impact of raising capital before the occurrence of default …
Persistent link: https://www.econbiz.de/10013023198
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The Great Mortgaging : Housing Finance, Crises, and Business Cycles
Jordà, Òscar - 2015
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...
Persistent link: https://www.econbiz.de/10013032225