Similar Search Results

Excess reserves and monetary policy tightening

Fricke, Daniel; Greppmair, Stefan; Paludkiewicz, Karol - 2024 - This draft: February 2, 2024

We show that the transmission of the European Central Bank’s (ECB) recent monetary policy tightening differs across banks depending on their level of excess reserves. Specifically, the net worth of reserve-rich banks may display a boost when the interest rate paid on reserves increases...

Persistent link: https://www.econbiz.de/10014481115

Matching for credit : identifying information asymmetries in joint-liability lending

Klein, Thilo - 2024

-liability (JL) to individual liabil- ity (IL) lending models. This article tests a theory explaining this shift, focusing on …

Persistent link: https://www.econbiz.de/10015271329

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

Time-varying volatility, financial intermediation and monetary policy

Eickmeier, Sandra; Metiu, Norbert; Prieto, Esteban - 2016

of high volatility compared to periods of low volatility, using a regime-switching vector autoregression. The lower … that is weaker in high volatility periods. To rationalize our robust empirical results, we use a macroeconomic model in … volatility of aggregate shocks. In low volatility periods, banks lever up, which makes their balance sheets more sensitive to …

Persistent link: https://www.econbiz.de/10011564503

Uncertainty and bank wholesale funding

Dinger, Valeriya; Craig, Ben R. - 2013

resulting volatility of bank loan volumes. We argue that since the volume of retail deposits is slow and costly to adjust to …

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

How does P2P lending fit into the consumer credit market?

Roure, Calebe de; Pelizzon, Loriana; Tasca, Paolo - 2016

Why do retail consumers look for P2P financial intermediation? Are internetbased peer-to-peer (P2P) loans a substitute for or a complement to bank loans? In this study we answer these questions by comparing P2P lending with the nonconstruction consumer credit market in Germany. We show that P2P...

Persistent link: https://www.econbiz.de/10011520643

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

Traditional banks, shadow banks and the US credit boom : credit origination versus financing

Unger, Robert - 2016

The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...

Persistent link: https://www.econbiz.de/10011456517

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

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