Narrow search
Showing 1 - 10 of 71
Cover Image
Shocks to bank lending, risk-taking, securitization, and their role for US business cycle fluctuations
Peersman, Gert; Wagner, Wolf - 2014
Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks lead to a...
Persistent link: https://www.econbiz.de/10010257361
Cover Image
Heterogeneous loans and the effect of monetary interventions
Cafiso, Gianluca; Rivolta, Giulia - 2021
The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions …. Considering such dimensions provides insights into the effect of monetary policy interventions because the credit components are …
Persistent link: https://www.econbiz.de/10012597851
Cover Image
Monetary interventions and the rise of non-bank lenders
Cafiso, Gianluca; Rivolta, Giulia - 2022
several credit aggregates granted from bank and non-bank institutions for different scopes and developments in the US economy …
Persistent link: https://www.econbiz.de/10013368897
Cover Image
The transmission mechanism of credit support policies in the Euro Area
Boeckx, Jef; Sola Perea, Maite de; Peersman, Gert - 2017
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 banks to the private sector. Second, we find support for the "bank … responded more to the credit support policies of the Eurosystem as a result of more favourable size, retail and liquidity …
Persistent link: https://www.econbiz.de/10011646726
Cover Image
Macroeconomic effects of unconventional monetary policy in the Euro area
Peersman, Gert - 2011 - This draft: July 2011
credit multiplier. In contrast, the multiplier declines considerably after an expansion of the Eurosystem's balance sheet …
Persistent link: https://www.econbiz.de/10009303919
Cover Image
Effectiveness and transmission of the ECB's balance sheet policies
Boeckx, Jef; Bossche, Maarten; Peersman, Gert - 2014
We estimate the effects of exogenous innovations to the balance sheet of the ECB since the start of the financial crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial markets, and has a positive impact on economic activity...
Persistent link: https://www.econbiz.de/10010383862
Cover Image
Rise of the central bank digital currencies : drivers, approaches and technologies
Auer, Raphael A.; Cornelli, Giulio; Frost, Jon - 2020
Central bank digital currencies (CBDCs) are receiving more attention than ever before. Yet the motivations for issuance vary across countries, as do the policy approaches and technical designs. We investigate the economic and institutional drivers of CBDC development and take stock of design...
Persistent link: https://www.econbiz.de/10012306593
Cover Image
The risk-taking channel of monetary policy transmission in the euro area
Neuenkirch, Matthias; Nöckel, Matthias - 2018
In this paper, we provide evidence for a risk-taking channel of monetary policy transmission in the euro area that works through the relaxation of lending standards for borrowers. Our dataset covers the period 2003Q1-2016Q2 and includes, in addition to the standard variables for real GDP growth,...
Persistent link: https://www.econbiz.de/10011822614
Cover Image
Bank concentration and monetary policy pass-through
Gödl-Hanisch, Isabel - 2023
transmission to output and investment, amplify the credit cycle, and flatten the Phillips curve. …
Persistent link: https://www.econbiz.de/10014251891
Cover Image
Financial cycles, credit bubbles and stabilization policies
Corrado, Luisa; Schuler, Tobias - 2018
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking sector. We augment a New Keynesian macroeconomic framework by endogenizing boundedly-rational expectations on asset values of loan portfolios and allow for interbank trading. We...
Persistent link: https://www.econbiz.de/10011952012