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Macroprudential capital regulation and fiscal balances in the euro area

Hristov, Nikolay; Hülsewig, Oliver; Kolb, Benedikt - 2024

in macroprudential capital regulation. Our findings suggest a dichotomy between country groups. In peripheral countries … core countries, the cyclically adjusted primary balance ratio barely reacts to a sudden tightening in capital regulation. …

Persistent link: https://www.econbiz.de/10014485633

The volatility curse : revisiting the paradox of plenty

Ploeg, Frederick van der; Poelhekke, Steven - 2009

The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling for initial income per capita, population growth, human capital, investment, openness and natural resource dependence. This effect is significant and robust over a wide range of...

Persistent link: https://www.econbiz.de/10003832092

Banking regulation and sovereign default risk : how regulation undermines rules

Hülsewig, Oliver; Steinbach, Armin - 2024

Banking regulation invites banks to gamble when buying government bonds that regulators consider to be risk-free. The … regulation in order to enhance their ﬁscal leeway. We examine an unintended side-eﬀect of banking regulation, namely the zero … area periphery countries to a restrictive macroprudential capital regulation shock. We ﬁnd that, unlike in the US, euro …

Persistent link: https://www.econbiz.de/10014576947

Globalization and the rise of mega-cities in the developing world

Ploeg, Frederick van der (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003635200

Is there really a green paradox?

Ploeg, Frederick van der; Withagen, Cees - 2010

The Green Paradox states that, in the absence of a tax on CO2 emissions, subsidizing a renewable backstop such as solar or wind energy brings forward the date at which fossil fuels become exhausted and consequently global warming is aggravated. We shed light on this issue by solving a model of...

Persistent link: https://www.econbiz.de/10003939168

International capital markets, oil producers and the green paradox

Meijden, Gerard C. van der; Ploeg, Frederick van der; … - 2014

A rapidly rising carbon tax leads to faster extraction of fossil fuels and accelerates global warming. We analyze how general equilibrium effects operating through the international capital market affect this Green Paradox. In a two-region, two-period world with identical homothetic preferences...

Persistent link: https://www.econbiz.de/10010412300

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 …

Persistent link: https://www.econbiz.de/10012628800

Euro area house prices and unconventional monetary policy surprises

Hülsewig, Oliver; Rottmann, Horst - 2021

This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over the period 2010-2019. Using Jordà’s (2005) local projection method, we find that real house prices rise in response to expansionary monetary policy shocks that can be related...

Persistent link: https://www.econbiz.de/10012509392

Loan supply shocks during the financial crisis : evidence for the Euro Area

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2011

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...

Persistent link: https://www.econbiz.de/10009012054

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

We explore the effects of the ECB’s unconventional monetary policy on the banks’ sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy...

Persistent link: https://www.econbiz.de/10012194625