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Credit misallocation during the European financial crisis

Schivardi, Fabiano; Sette, Enrico; Tabellini, Guido Enrico - 2017

Do banks with low capital extend excessive credit to weak firms, and does this matter for aggregate efficiency? Using a unique data set that covers almost all bank-firm relationships in Italy in the period 2004-2013, we find that, during the Eurozone financial crisis: (i) Under-capitalized banks...

Persistent link: https://www.econbiz.de/10011624235

Systematic monetary policy and the macroeconomic effects of shifts in loan-to-value ratios

Bachmann, Ruediger; Rüth, Sebastian - 2017

What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as … instrument, and, as a result, mortgage rates increase and residential investment declines. The monetary policy reaction function …. Without the endogenous monetary policy reaction residential investment increases. House prices and household (mortgage) debt …

Persistent link: https://www.econbiz.de/10011646925

Big data analytics : a new perspective

Chudik, Alexander; Kapetanios, George; Pesaran, M. Hashem - 2016

Model specification and selection are recurring themes in econometric analysis. Both topics become considerably more complicated in the case of large-dimensional data sets where the set of specification possibilities can become quite large. In the context of linear regression models, penalised...

Persistent link: https://www.econbiz.de/10011444508

A micro data approach to the identification of credit crunches

Rottmann, Horst; Wollmershäuser, Timo - 2010

This paper presents a micro data approach to the identification of credit crunches. Using a survey among German firms which regularly queries the firms' assessment of the current willingness of banks to extend credit we estimate the probability of a restrictive credit supply policy by time...

Persistent link: https://www.econbiz.de/10008653413

Do banks pass through credit expansions? : the marginal profitability of consumer lending during the Great Recession

Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - 2015

We examine the ability of policymakers to stimulate household borrowing and spending during the Great Recession by reducing banks' cost of funds. Using panel data on 8.5 million U.S. credit card accounts and 743 credit limit regression discontinuities, we estimate the marginal propensity to...

Persistent link: https://www.econbiz.de/10011343066

Who gains from better access to credit? : credit reform and reallocation of resources

Arnold, Jens Matthias; Flach, Lisandra - 2017

Brazil's 2005 bankruptcy law reform strengthened creditor protection, resulting in a substantial acceleration of credit expansion and business investment growth. In this paper, we go beyond average effects and examine to what extent the pro-creditor reform affected the allocation of resources...

Persistent link: https://www.econbiz.de/10011735891

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

How banks respond to negative interest rates : evidence from the Swiss exemption threshold

Basten, Christoph; Mariathasan, Mike - 2018

We analyze the effect of negative monetary policy rates on banks, using detailed supervisory information from Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank reserves exempt from negative rates. More affected banks...

Persistent link: https://www.econbiz.de/10011795014

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

Brož, Václav; Kočenda, Evžen - 2021

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …

Persistent link: https://www.econbiz.de/10012697108

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