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The credit quality channel : modeling contagion in the interbank market

Fink, Kilian; Krüger, Ulrich; Meller, Barbara; Wong, … - 2015

We propose an algorithm to model contagion in the interbank market via what we term the credit quality channel. In …

Persistent link: https://www.econbiz.de/10011381702

Cross-border banking and business cycles in asymmetric currency unions

Dräger, Lena; Proaño Acosta, Christian - 2015

this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this … financial sector may have exacerbated the emergence of macroeconomic imbalances within the euro area. Additionally, we show the …

Persistent link: https://www.econbiz.de/10011299044

The synchronization of European credit cycles

Meller, Barbara; Metiu, Norbert - 2015

We study the synchronization of credit booms and busts among 12 major European economies and the United States between 1972-2011. We propose a regression-based procedure to test whether boom-bust phases of credit cycles coincide across countries and to cluster countries with positively...

Persistent link: https://www.econbiz.de/10011299045

Multinational banks’ deleveraging in the crisis driven by pre-crisis characteristics and behavior

Frey, Rainer - 2015

After the collapse of Lehman Brothers, a rapid and far-reaching shrinkage of international banks’ assets with a focus on foreign claims took place. For the largest 67 German banking groups, we find that both their characteristics and behavior in the pre-crisis episode had repercussions for the...

Persistent link: https://www.econbiz.de/10011299079

The intraday interest rate : what’s that?

Abbassi, Puriya; Fecht, Falko; Tischer, Johannes - 2015

We study the intraday interest rate in a CCP-based GC pooling repo market and its key determinants. Since collateral … used in this market is identical to collateral eligible for the daylight overdraft facility of the Eurosystem, any intraday … 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

Out of sight, out of mind? : on the risk of sub-custodian structures

Droll, Thomas; Podlich, Natalia; Wedow, Michael - 2015

We analyse sub-custodian chains using a unique data set from a survey. Our key question is whether there is any evidence for moral hazard in the delegation of asset safe-keeping to sub-custodians. Sub-custodian chains can be relatively long and frequently reach across several countries. The risk...

Persistent link: https://www.econbiz.de/10011334614

Is there a fade-away effect of initial nonresponse bias in EU-SILC?

Rendtel, Ulrich - 2015

Nonresponse in surveys may result in a distortion of the distribution of interest. In a panel survey the participation behavior in later waves is different from the participation behavior at the start. With register data that cover also the information for non-respondents one can observe a fade...

Persistent link: https://www.econbiz.de/10011312698

Distributional consequences of asset price inflation in the euro area

Adam, Klaus; Tzamourani, Panagiota - 2015

We study the distributional consequences of housing price, bond price and equity price increases for Euro Area … Euro Area countries. …

Persistent link: https://www.econbiz.de/10011316626

"Welfare magnetism" in the EU-15? : why the EU enlargement did not start a race to the bottom of welfare states

Skupnik, Christoph - 2013

According to the "welfare magnet" hypothesis, migrants with a high likelihood of claiming benefits cluster in the most generous welfare systems. After the introduction of the freedom of movement for Eastern European workers, EU-15 countries can thus be expected to reduce public benefits in order...

Persistent link: https://www.econbiz.de/10009764577

(When) does money growth help to predict Euro-area inflation at low frequencies?

Schreiber, Sven - 2013 - this version: June 2013

-specific tests in a comprehensive system setup for euro-area data we consider various theoretical predictors of inflation. A general …

Persistent link: https://www.econbiz.de/10009774367