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Monetary policy, funding cost and banks’ risk-taking : evidence from the United States
Bürgi, Constantin; Jiang, Bo - 2022
How much deposits and equity a bank has influences how a banks’ lending responds to monetary policy. While the responsiveness for the bank lending channel has been well established, this is not the case for the risk-taking channel (RTC). We show in a value-at-risk RTC model that the lending...
Persistent link: https://www.econbiz.de/10013390943
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Holes in the dike : the global savings glut, US house prices and the long shadow of banking deregulation
Hoffmann, Mathias; Stewen, Iryna - 2015
We explore empirically how capital inflows into the US and financial deregulation within the United States interacted … measure of financial liberalization, we focus on the history of interstate-banking deregulation during the 1980s, i.e. prior … of deregulation: in states that opened their banking markets to out-of-state banks earlier, house prices were more …
Persistent link: https://www.econbiz.de/10010515411
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Network utilities in the U.S. : sector reforms without privatization
Vogelsang, Ingo - 2004
California disaster. Part of the explanation for these difficulties stems from past successful liberalization and deregulation …
Persistent link: https://www.econbiz.de/10011402612
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Softening the blow : U.S. state level banking deregulation and sectoral reallocation after the China trade shock
Hoffmann, Mathias; Ruslanova, Lilia - 2021
U.S. state-level banking deregulation during the 1980’s mitigated the impact of the China trade shock (CTS) on local …
Persistent link: https://www.econbiz.de/10012438347
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Dollarization of deposits in the short and long run : evidence from CESE countries
Urosevic, Branko; Rajkovic, Ivana - 2016
In this paper, we study the drivers of permanent and transitory deposit dollarization for a sample of CESE countries using panel cointegration techniques. The results suggest that a positive cointegration relationship exists between permanent dollarization and Minimum Variance Portfolio (MVP)...
Persistent link: https://www.econbiz.de/10011421680
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Money creation and destruction
Faure, Salomon; Gersbach, Hans - 2017
We study money creation and destruction in today's monetary architecture within a general equilibrium setting. Two types of money are created and destructed: bank deposits, when banks grant loans to firms or to other banks, and central bank money, when the central bank grants loans to private...
Persistent link: https://www.econbiz.de/10011688423
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Private bank deposits and macro/fiscal risk in the euroarea
Arghyrou, Michael Georgiou; Gadea, María Dolores - 2019
We examine the relationship between private bank deposits and macro/fiscal risk in the euro area. We test three hypotheses: First, private bank deposits relative to Germany are determined by macro/fiscal risk factors. Second, this relationship is time-varying. Third, time-variation is driven by...
Persistent link: https://www.econbiz.de/10011982211
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Channel systems : why is there a positive spread?
Berentsen, Aleksander; Marchesiani, Alessandro; Waller, … - 2010
An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...
Persistent link: https://www.econbiz.de/10008732253
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Liquidity risk, credit risk and the overnight interest rate spread : a stochastic volatility modelling approach
Beirne, John; Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010
In this paper we model the volatility of the spread between the overnight interest rate and the central bank policy rate (the policy spread) for the euro area and the UK during the two main phases of the financial crisis that began in late 2007. During the crisis, the policy spread exhibited...
Persistent link: https://www.econbiz.de/10003983199
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Credit market competition and liquidity crises
Elena, Carletti; Leonello, Agnese - 2014
We develop a model where banks invest in reserves and loans, and face aggregate liquidity shocks. Banks with liquidity 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,...
Persistent link: https://www.econbiz.de/10010249670