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Real interest rates, bank borrowing, and fragility

Ahnert, Toni; Anand, Kartik; König, Philipp Johann - 2022

How do real interest rates affect financial fragility? We study this issue in a model in which bank borrowing is subject to rollover risk. A bank’s optimal borrowing trades off the benefit from investing additional funds into profitable assets with the cost of greater risk of a run by bank...

Persistent link: https://www.econbiz.de/10013460206

International banking and liquidity risk transmission : lessons from across countries

Buch, Claudia M.; Goldberg, Linda S. - 2014

financial crisis. Yet, we know little about the actual magnitudes and mechanisms for transmission of liquidity shocks through … studies conducted in 11 countries to explore liquidity risk transmission. Among the main results is, first, that explanatory … power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk …

Persistent link: https://www.econbiz.de/10010393856

Fundamentals matter : idiosyncratic shocks and interbank relations

Bednarek, Peter; Dinger, Valeriya; Westernhagen, Natalja von - 2015

shocks affecting banks’ capital, liquidity and credit quality as well as revised banklevel risk perceptions. Relationship …

Persistent link: https://www.econbiz.de/10011414244

Uncertainty and bank wholesale funding

Dinger, Valeriya; Craig, Ben R. - 2013

In this paper we relate a bank’s choice between retail and wholesale liabilities to real economic uncertainty and the resulting volatility of bank loan volumes. We argue that since the volume of retail deposits is slow and costly to adjust to shocks in the volume of bank assets, banks facing...

Persistent link: https://www.econbiz.de/10010192750

Anatomy of the medical innovation process : what are the consequences of replicability issues on innovation?

Blandinieres, Florence - 2019

This paper is concerned with exploring the implications of replicability issues over the medical innovation process. Each research setting is characterized by a specific level of replicability, variability increasing with the complexity of the testing settings. The study introduces new measures...

Persistent link: https://www.econbiz.de/10011992481

Portfolio liquidation under factor uncertainty

Horst, Ulrich; Xia, Xiaonyu; Zhou, Chao - 2021

We study an optimal liquidation problem under the ambiguity with respect to price impact parameters. Our main results show that the value function and the optimal trading strategy can be characterized by the solution to a semi-linear PDE with superlinear gradient, monotone generator and singular...

Persistent link: https://www.econbiz.de/10012500352

The aggregate consequences of default risk : evidence from firm-level data

Besley, Timothy; Roland, Isabelle; Van Reenen, John - 2020

Persistent link: https://www.econbiz.de/10012196328

Learning about fiscal policy and the effects of policy uncertainty

Hollmayr, Josef; Matthes, Christian - 2013

The recent crisis in the United States has often been associated with substantial amounts of policy uncertainty. In this paper we ask how uncertainty about fiscal policy affects the impact of fiscal policy changes on the economy when the government tries to counteract a deep recession. The...

Persistent link: https://www.econbiz.de/10010211956

Economic uncertainty and subjective inflation expectations

Rossmann, Tobias - 2019

Measuring economic uncertainty is crucial for understanding investment decisions by individuals and firms. Macroeconomists increasingly rely on survey data on subjective expectations. An innovative approach to measure aggregate uncertainty exploits the rounding patterns in individuals' responses...

Persistent link: https://www.econbiz.de/10012034114

The transmission of sectoral shocks across the innovation network

Fons-Rosen, Christian; Pu, Zhaoxin - 2020

Recent innovation literature has documented the benefits of cross-pollination of ideas across a wide set of industries and technology fields in an economy. Industrial and trade policies, by contrast, tend to favor economic specialization through the promotion of selected sectors. In this paper...

Persistent link: https://www.econbiz.de/10012150167

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