Narrow search
Showing 1 - 10 of 349
Cover Image
Cross-border transmission of emergency liquidity
Kick, Thomas; Koetter, Michael; Storz, Manuela - 2016
We show that emergency liquidity provision by the Federal Reserve transmitted to non-U.S. banking markets. Based on manually collected holding company structures of international banks, we can identify banks in Germany with access to U.S. facilities via internal capital markets. Using...
Persistent link: https://www.econbiz.de/10011538689
Cover Image
Financial protectionism: the first tests
Rose, Andrew; Wieladek, Tomasz - 2011
We provide the first empirical tests for financial protectionism, defined as a nationalistic change in bank's lending behaviour, as the result of public intervention, which leads domestic banks either to lend less or at higher interest rates to foreigners. We use a bank-level panel data set...
Persistent link: https://www.econbiz.de/10009125050
Cover Image
Interest rate shocks, competition and bank liquidity creation
Kick, Thomas - 2022
We study the effects of interest rate shocks (IRS) on banks’ liquidity creation. A unique supervisory data set from the Deutsche Bundesbank allows identifying banks’ liquidity creation for the real economy and the effects of banking market competition. Here, we employ a novel approach to...
Persistent link: https://www.econbiz.de/10013184357
Cover Image
Financial repression in general equilibrium : the case of the United States, 1948-1974
Kliem, Martin; Kriwoluzky, Alexander; Müller, Gernot J.; … - 2024
Financial repression lowers the return on government debt and contributes, all else equal, towards its liquidation. However, its full effect on the debt-to-GDP ratio hinges on how repression impacts the economy at large because it alters investment and saving decisions. We develop and estimate a...
Persistent link: https://www.econbiz.de/10014559288
Cover Image
Inflation, effective taxation and interest rates
Birati, Assa; Bulmash, Shemuel - 1985
Persistent link: https://www.econbiz.de/10000684791
Cover Image
Monetary-fiscal policy interaction and fiscal inflation : a tale of three countries
Kliem, Martin; Kriwoluzky, Alexander; Sarferaz, Samad - 2015
fiscal stance and inflation using crosscountry data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …
Persistent link: https://www.econbiz.de/10011391752
Cover Image
Has monetary policy reacted to asset price movements? : Evidence from the UK
Kontonikas, Alexandros; Montagnoli, Alberto - 2002
Persistent link: https://www.econbiz.de/10001730312
Cover Image
The Fisher paradox : a primer
Gerke, Rafael; Hauzenberger, Klemens - 2017
The neo-Fisherian view does not consider a negative interest rate gap a prerequisite for boosting inflation. Instead, a … negative interest rate gap is said to lower inflation. We discuss this counterintuitive response - known as the Fisher paradox …
Persistent link: https://www.econbiz.de/10011671353
Cover Image
Währungsunion und deutsche Kapitalmarktzinsen
Heinemann, Friedrich - 1996
Since the negotiation of the Maastricht Treaty in December 1991 expectations on the new European currency could possibly influence European interest rates. The focus of this paper is both on the theoretical and empirical analysis of the link between European Monetary Union (EMU) and German...
Persistent link: https://www.econbiz.de/10011621678
Cover Image
Hampered interest rate pass-through : a supply side story?
Heckmann, Lotta; Moertel, Julia - 2020
This paper shows that the supply side of credit is a major factor for the phenomenonof hampered interest rate pass-through in monopolistic banking markets. Our data,covering all 1,555 small and medium sized banks in Germany, provides a clear wayto partial out demand shocks; we are thus able to...
Persistent link: https://www.econbiz.de/10012322286