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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
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Neuenkirch, Matthias - 2020
the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy … determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … directly lead to a reduction of real GDP growth, whereas shocks to the quantity of credit are less important in explaining …
Persistent link: https://www.econbiz.de/10012383710
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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
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Monetary policy, sectoral comovement and the credit channel
Di Pace, Federico; Görtz, Christoph - 2021
Persistent link: https://www.econbiz.de/10012546900
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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
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Monetary policy transmission to consumer financial stress and durable consumption
Georgarakos, Dimitris; Tatsiramos, Konstantinos - 2019
We examine the effects of monetary policy on household self-assessed financial stress and durable consumption using panel data from eighteen annual waves of the British Household Panel Survey. For identification, we exploit random variation in household exposure to interest rates generated by...
Persistent link: https://www.econbiz.de/10012024596
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How banks respond to negative interest rates : evidence from the Swiss exemption threshold
Basten, Christoph; Mariathasan, Mike - 2018
margins, but credit and interest rate risk increase. Portfolio rebalancing implies relatively more lending, also compared to …
Persistent link: https://www.econbiz.de/10011795014
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Uncertainty and the cost of bank vs. bond finance
Grimme, Christian - 2019
How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper finds that heightened uncertainty is accompanied by an increase in corporate bond yields and a decrease in bank lending rates. This finding can be explained with a model that...
Persistent link: https://www.econbiz.de/10011958806
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Market-based monetary policy uncertainty
Bauer, Michael D.; Lakdawala, Aeimit; Mueller, Philippe - 2019
This paper investigates the role of monetary policy uncertainty for the transmission of FOMC actions to financial markets using a novel model-free measure of uncertainty based on derivative prices. We document a systematic pattern in monetary policy uncertainty over the course of the FOMC...
Persistent link: https://www.econbiz.de/10012001886
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Bank concentration and monetary policy pass-through
Hanisch, Isabel - 2023
transmission to output and investment, amplify the credit cycle, and flatten the Phillips curve. …
Persistent link: https://www.econbiz.de/10014251891