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Monetary policy, housing, and collateral constraints

Franz, Thorsten - 2019

decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth … housing sector in times of high LTV ratios, which, through changes in mortgage lending and mortgage equity withdrawals (MEWs …

Persistent link: https://www.econbiz.de/10011963152

International banking and cross-border effects of regulation : lessons from Germany

Ohls, Jana; Pramor, Marcus; Tonzer, Lena - 2016

We analyze the inward and outward transmission of regulatory changes through German banks' (international) loan portfolio. Overall, our results provide evidence for international spillovers of prudential instruments, these spillovers are however quite heterogeneous between types of banks and can...

Persistent link: https://www.econbiz.de/10011518213

The global financial cycle and macroeconomic tail risks

Beutel, Johannes; Emter, Lorenz; Metiu, Norbert; … - 2022

We study the link between the global financial cycle and macroeconomic tail risks using quantile vector autoregressions. Contractionary shocks to financial conditions and monetary policy in the United States cause elevated downside risks to growth around the world. By tightening financial...

Persistent link: https://www.econbiz.de/10013459721

Financial frictions and global spillovers

Metiu, Norbert; Hilberg, Björn; Grill, Michael - 2015

We investigate whether frictions in US financial markets amplify the international propagation of US financial shocks. The dynamics of the US economy is modeled jointly with global macroeconomic and financial variables using a threshold vector autoregression that allows us to capture...

Persistent link: https://www.econbiz.de/10010493885

Unconventional monetary policy shocks in the euro area and the sovereign-bank nexus

Hristov, Nikolay; Hülsewig, Oliver; Scharler, Johann - 2020

We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...

Persistent link: https://www.econbiz.de/10012197879

Real estate transaction taxes and credit supply

Koetter, Michael; Marek, Philipp; Mavropoulos, Antonios - 2021

price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a … isolate the effect on mortgage credit supply by all local German banks. First, a RETT hike by one percentage point reduces HPI … the RETT leads to a 1.4% decline in mortgage lending. This transmission of fiscal policy to mortgage credit supply is …

Persistent link: https://www.econbiz.de/10012433677

Shocks versus structure : explaining differences in exchange rate pass-through across countries and time

Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2017

We show that exchange rate pass-through to consumer prices varies not only across countries, but also over time. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate, use of foreign currency invoicing, and openness - in...

Persistent link: https://www.econbiz.de/10011671018

The transmission of sectoral shocks across the innovation network

Fons-Rosen, Christian; Pu, Zhaoxin - 2020

the competition shock to the European textile sector, triggered by the 2001 removal of import quotas on Chinese textiles …

Persistent link: https://www.econbiz.de/10012150167

The international spillover effects of trade policy uncertainty on the stockpiling and destocking of US imports

Wisarut Suwanprasert - 2023

Persistent link: https://www.econbiz.de/10014320253

International spillovers and feedback : modelling in a disequilibrium framework

Winker, Peter - 2000

German unifikation hit the West German economy in a prosperous and appeared as a huge demand shock at least for the … those resulting from the demand shock of German unification, to effect not only German trade flows, but also real variables …

Persistent link: https://www.econbiz.de/10013428333

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