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Cross-border liquidity, relationships and monetary policy : evidence from the Euro area interbank crisis
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2014 - This version: November 2014
- border lending after the Lehman failure; for banks headquartered in periphery countries, the impact is quantitatively …
Persistent link: https://www.econbiz.de/10010471858
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Banks' trading after the Lehman crisis : the role of unconventional monetary policy
Podlich, Natalia; Schnabel, Isabel; Tischer, Johannes - 2017
Based on a detailed trade-level dataset, we analyze the proprietary trading behavior of German banks in the months … German banking system that was both unexpected and exogenous. We examine banks' immediate reactions as well as their … banks' trading behavior by inducing shifts towards eligible securities and reducing pressure on market liquidity. This …
Persistent link: https://www.econbiz.de/10011671299
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Employment, hours and optimal monetary policy
Dossche, Maarten; Lewis, Vivien; Poilly, Céline - 2015
We characterize optimal monetary policy in a New Keynesian search-and-matching model where multiple-worker firms satisfy demand in the short run by adjusting hours per worker. Imperfect product market competition and search frictions reduce steady state hours per worker below the efficient...
Persistent link: https://www.econbiz.de/10010471629
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The intraday interest rate : what’s that?
Abbassi, Puriya; Fecht, Falko; Tischer, Johannes - 2015
rate in this market cannot be a result of collateral constraints keeping banks from using the overdraft for arbitrage …
Persistent link: https://www.econbiz.de/10011308459
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Fundamentals matter : idiosyncratic shocks and interbank relations
Bednarek, Peter; Dinger, Valeriya; Westernhagen, Natalja von - 2015
Our results uncover a so far undocumented ability of the interbank market to distinguish between banks of different … banks to roll over their interbank debt was not due to a failure of the interbank market per se but rather to bankspecific … shocks affecting banks’ capital, liquidity and credit quality as well as revised banklevel risk perceptions. Relationship …
Persistent link: https://www.econbiz.de/10011414244
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Financial frictions,the Phillips curve and monetary policy
Lieberknecht, Philipp - 2019
This paper proposes a tractable financial accelerator New Keynesian DSGE modelthat allows for closed-form solutions. In the presence of financial frictions, theNew Keynesian Phillips curve features a flat slope with respect to the output gapand is strongly forward-looking. All shocks cause...
Persistent link: https://www.econbiz.de/10012149564
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Traditional banks, shadow banks and the US credit boom : credit origination versus financing
Unger, Robert - 2016
transforms existing financial claims against ultimate borrowers that have been originated by traditional banks. Based on … non-financial private sector had been originated by shadow banks. Consequently, dampening credit creation by the …
Persistent link: https://www.econbiz.de/10011456517
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Doing more with less : the catalytic function of IMF lending and the role of program size
Krahnke, Tobias - 2020
Financial assistance provided by the International Monetary Fund (IMF) is supposed to unlock other financing, acting as a catalyst for private capital flows. The empirical evidence of the presence of such a catalytic effect has, however, been mixed. This paper shows that a possible explanation...
Persistent link: https://www.econbiz.de/10012197872
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Financial crises and shadow banks : a quantitative analysis
Rottner, Matthias - 2022
Motivated by the build-up of shadow bank leverage prior to the financial crisis of 2007-2008, I develop a nonlinear macroeconomic model featuring excessive leverage accumulation and endogenous financial crises to capture the observed dynamics and to quantify the build-up of financial fragility....
Persistent link: https://www.econbiz.de/10013194657
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Climate Minsky Moments and endogenous financial crises
Kaldorf, Matthias; Rottner, Matthias - 2024
Does a shift to ambitious climate policy increase financial fragility? In this paper, we develop a quantitative macroeconomic model with carbon taxes and endogenous financial crises to study such "Climate Minsky Moments". By reducing asset returns, an accelerated transition to net zero exerts...
Persistent link: https://www.econbiz.de/10014632326