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Lender of Last Resort and Bank Closure Policy
Freixas, Xavier; Parigi, Bruno Maria - 2021
During the last decades a consensus has emerged that it is impossible to disentangle liquidity shocks from solvency shocks. As a consequence the classical lender of last resort rules, as defined by Thornton and Bagehot, based on lending to solvent illiquid institutions appear ill-suited to this...
Persistent link: https://www.econbiz.de/10013316536
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Central Banking and Financial Stability in the Long Run
Cao, Jin - 2013
central banks cannot attain both low inflation and financial stability …
Persistent link: https://www.econbiz.de/10013080504
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Banking Panics and Liquidity in a Monetary Economy
Matsuoka, Tarishi - 2018
increases with inflation, as is consistent with empirical evidence. The model derives a rich array of non-trivial effects of … inflation on the equilibrium deposit and the bank's portfolio …
Persistent link: https://www.econbiz.de/10012930807
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The Impact of Monetary Strategies on Inflation Persistence
Kočenda, Evžen - 2017
We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …
Persistent link: https://www.econbiz.de/10012962672
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The European Central Bank : Lender of Last Resort in the Government Bond Markets?
De Grauwe, Paul - 2013
The sovereign debt crisis has made it clear that central banking is more than keeping inflation low. Central banks are …
Persistent link: https://www.econbiz.de/10013092424
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Bank Bailouts, International Linkages and Cooperation
Niepmann, Friederike - 2011
Financial institutions are increasingly linked internationally. As a result, financial crisis and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation...
Persistent link: https://www.econbiz.de/10013128043
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Financial Stability in Europe : Banking and Sovereign Risk
Bruha, Jan - 2017
We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...
Persistent link: https://www.econbiz.de/10012955275
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The Effects of Systemic Banking Crises in the Inter-War Period
Rocha, Bruno - 2015
This paper examines the time-profile of the impact of systemic banking crises on GDP and industrial production using a panel of 24 countries over the inter-war period and compares this to the post-war experience of these countries. We show that banking crises have effects that induce medium-term...
Persistent link: https://www.econbiz.de/10013024666
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Banking Crises
Grossman, Richard S. - 2016
Financial crises have been a common feature of the economic landscape for more than two centuries. The chapter defines banking crises, considers the type of costs that they impose, and outlines the most common causes of banking crises during the past 200 years. The remainder of the chapter...
Persistent link: https://www.econbiz.de/10012988973
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Global Banking, Trade, and the International Transmission of the Great Recession
Born, Alexandra - 2018
The global financial crisis of 2007-2009 spread through different channels from its origin in the United States to large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify their relative importance for this transmission....
Persistent link: https://www.econbiz.de/10012920861