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Bank leverage cycles and the external finance premium

Rannenberg, Ansgar - 2013

By combining the approaches of Gertler and Karadi (2011) and Bernanke et al. (1999), I develop a DSGE model with leverage constraints both in the banking and in the non-financial firm sector. I calibrate this "full model" to US data. In a world with only a monetary policy and a productivity...

Persistent link: https://www.econbiz.de/10010238505

External financing and economic activity in the euro area : why are bank loans special?

Aldasoro, Iñaki; Unger, Robert - 2017

Using a Bayesian vector autoregression (BVAR) identified with a mix of sign and zero restrictions, we show that a restrictive bank loan supply shock has a strong and persistent negative impact on real GDP and the GDP deflator. This result comes about even though flows of other sources of...

Persistent link: https://www.econbiz.de/10011632175

Basel III and SME bank finance in Germany

Marek, Philipp; Stein, Ingrid - 2022

This paper examines how Basel III capital reforms affected bank lending in Ger- many. We focus on the increase of minimum risk-based capital requirements and the introduction of the leverage ratio. The announcement of stricter risk-based capital regulation significantly affected low capitalized...

Persistent link: https://www.econbiz.de/10013399771

Cyclicality of SME lending and government involvement in banks

Behr, Patrick; Foos, Daniel; Norden, Lars - 2015

on financial stability and the real economy. We investigate the cyclicality of SME lending by local banks with vs …

Persistent link: https://www.econbiz.de/10011391616

Lending relationships in Germany : empirical evidence from survey data

Harhoff, Dietmar - 1998

Persistent link: https://www.econbiz.de/10013428157

Support for the SME supporting factor : multi-country empirical evidence on systematic risk factor for SME loans

Dietsch, Michel; Düllmann, Klaus; Fraisse, Henri; … - 2016

consistency of own funds requirements with the riskiness of SME. In both the French and the German sample, results suggest that … the relative differences between the capital requirements for large corporates and those for SME (in other words the … capital relief for SME) are lower in the Basel III framework than implied by empirically estimated asset correlations. Results …

Persistent link: https://www.econbiz.de/10011564456

The commitment role of equity financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

Existing theories of a firm's optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...

Persistent link: https://www.econbiz.de/10011705222

Size matters : "over"investments in a relational contracting setting

Englmaier, Florian; Fahn, Matthias - 2018

The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylized fact, most of them focusing on a fundamental agency problem between shareholders and managers. The present paper shows...

Persistent link: https://www.econbiz.de/10011895831

Taxation, financing, and corporate investment : a model of the real and financial decisions of the firm

Nadeau, Serge J.; Strauss, Robert P. - 1991

Persistent link: https://www.econbiz.de/10000970175

Bank loan supply shocks and alternative financing of non-financial corporations in the euro area

Mandler, Martin; Scharnagl, Michael - 2019

We analyse the macroeconomic effects of exogenous contractions in bank lending to non-financial corporations in the Euro Area, Germany, France, Italy and Spain using a Bayesian vector autoregressive model with endogenous hyperparameter selection and identification via sign restrictions. We focus...

Persistent link: https://www.econbiz.de/10012034573

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