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We investigate the transmission of central bank liquidity to bank deposits and loan spreads in Europe over the period from January 2006 to June 2010. We find evidence consistent with an impaired transmission channel due to bank risk. Central bank liquidity does not translate into lower loan...
Persistent link: https://www.econbiz.de/10012155137
This paper uses mortgage data to construct a measure of terms on which households access to external finance, and relates it to consumption at both the aggregate and cohort levels. The Household External Finance (HEF) index is based on the spread paid by risky borrowers in the mortgage market....
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The costs of wars have been the main driver of public debt in the Western World during the modern era. The late … twentieth century stands out as a period that saw a pronounced increase of government debt to GDP ratios in peacetime. This … paper assesses the role that financial crises have played in shaping the public debt trajectory in the twentieth century …
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, trade is more sensitive to trade costs if the exporting country only provides a small share of the destination country …’s imports. As a result, trade costs have a heterogeneous impact across country pairs, with some trade flows predicted to be zero …
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