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Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets - An Overinvestment View
Schnabl, Gunther; Hoffmann, Andreas - 2021
theories of Hayek, Wicksell and Schumpeter. We argue that ample liquidity supply originating in the large industrialized …
Persistent link: https://www.econbiz.de/10013316825
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Endogenous Systemic Liquidity Risk
Cao, Jin - 2013
Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing …, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback … between lender of last resort policy and incentives of private banks, determining the aggregate amount of liquidity available …
Persistent link: https://www.econbiz.de/10013095988
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The Impact of Financial Constraints and Wealth Inequality on International Trade Flows, Capital Movements and Entrepreneurial Migration
Bougheas, Spiros - 2014
We introduce financial frictions into a simple two sector model of international trade with heterogeneous agents and investigate the impact of differences in the strength of financial institutions and wealth inequality on trade flows, capital movements and entrepreneurial migration. Distinct...
Persistent link: https://www.econbiz.de/10013053708
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Central Banking and Financial Stability in the Long Run
Cao, Jin - 2013
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central banks play complex, long horizon games and face more than one tradeoff. We account for these issues in a simple infinite horizon game with a novel tradeoff: higher rates deter...
Persistent link: https://www.econbiz.de/10013080504
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Rating Assignments : Lessons from International Banks
Caporale, Guglielmo Maria - 2013
This paper estimates ordered logit and probit regression models for bank ratings which also include a country index to capture country-specific variation. The empirical findings provide support to the hypothesis that the individual international bank ratings assigned by Fitch Ratings are...
Persistent link: https://www.econbiz.de/10013095997
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Cross-Border Banking in Regulated Markets : Is Financial Integration Desirable?
Haufler, Andreas - 2016
We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels of...
Persistent link: https://www.econbiz.de/10012978391
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Global Banking, Trade, and the International Transmission of the Great Recession
Born, Alexandra - 2018
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10012920861
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Why do Foreign Banks Withdraw from Other Countries? A Panel Data Analysis
Hryckiewicz, Aneta - 2013
This paper describes the trends in foreign bank ownership across the world and presents, for the first time, empirical …
Persistent link: https://www.econbiz.de/10013094859
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Outside Versus Inside Bonds : A Modigliani-Miller Type Result for Liquidity Constrained Economies
Berentsen, Aleksander - 2010
When agents are liquidity constrained, two options exist - sell assets or borrow. We compare the allocations arising in …
Persistent link: https://www.econbiz.de/10013135267
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Financial Globalization and Bank Lending : The Limits of Domestic Monetary Policy?
Cao, Jin - 2018
We empirically analyze how bank lending reacts to monetary policy in the presence of global financial flows. Employing a unique and novel dataset of the funding modes and currency composition of the full population of Norwegian banks in structurally identified regressions, we show that the...
Persistent link: https://www.econbiz.de/10012921278