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Do exposures to sagging real estate, subprime or conduits abroad lead to contraction and flight to quality in bank lending at home?
Ongena, Steven; Tümer-Alkan, Günseli; Westernhagen, … - 2015
We investigate how differential exposures by German banks to the US real estate market during the recent financial crisis affect their corporate lending in Germany. Using unique bank-level exposure data, we distinguish between three different types of bank exposures, i.e. direct exposure to the...
Persistent link: https://www.econbiz.de/10011280084
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Affordability, financial innovation and the start of the housing boom
Dokko, Jane K.; Keys, Benjamin J.; Relihan, Lindsay E. - 2019
Persistent link: https://www.econbiz.de/10011986443
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Macro to the rescue? : an analysis of macroprudential instruments to regulate housing credit
Falter, Alexander - 2019
of macroprudential instruments addressing mortgage credit. The model compares the introduction of a loan-to-value ratio …
Persistent link: https://www.econbiz.de/10012034723
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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
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Stress testing the German mortgage market
Barasinska, Nataliya; Haenle, Philipp; Koban, Anne; … - 2019
This paper presents a framework for estimating losses in the residential real estate mortgage portfolios of German …-trigger hypothesis of mortgage defaults. In order to analyse the possible credit losses stemming from residential mortgage lending we … to 2020 for the whole German banking sector. Our results show that loss rates in the residential mortgage portfolios of …
Persistent link: https://www.econbiz.de/10012012997
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Tenure choice : fundamentals and a simulation
Furtado, Bernardo Alves; Souza, João Gabriel de Moraes - 2020
simulation suggests that the amortization scheme known as SAC for the mortgage system is a better choice in nearly two-thirds of … should acknowledge this level of uncertainty by including explicit mortgage renegotiations within shorter periods. …
Persistent link: https://www.econbiz.de/10012233003
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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
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020 - This version: 30th October 2019
We evaluate the role of financial conditions as predictors of macroeconomic risk first in the quantile regression framework of Adrian et al. (2019b), which allows for non-linearities, and then in a novel linear semi-structural model as proposed by Hasenzagl et al. (2018). We distinguish between...
Persistent link: https://www.econbiz.de/10012173525
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Equity returns in the banking sector in the wake of the great recession and the European sovereign debt crisis
Chan-Lau, Jorge A.; Liu, Estelle X.; Schmittmann, … - 2013
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10010128764
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Learning about banks' net worth and the slow recovery after the financial crisis
Hollmayr, Josef; Kühl, Michael - 2016
In this paper, we examine the influence of information rigidities concerning the net worth of banks on the real economy over time. In a first part, we show empirically that expectations about the net earnings of banks (as growth of net worth) are truly biased, particularly during the financial...
Persistent link: https://www.econbiz.de/10011543367