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The Effect of Macroprudential Policies on Credit Developments in Europe 1995-2017
Budnik, Katarzyna Barbara - 2020
The paper inspects the credit impact of policy instruments that are commonly applied to contain systemic risk. It employs detailed information on the use of capital-based, borrower-based and liquidity-based instruments in 28 European Union countries in 1995—2017 and a macroeconomic panel...
Persistent link: https://www.econbiz.de/10012824519
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Necessity As the Mother of Invention : Monetary Policy after the Crisis
Blinder, Alan S. - 2017
evidence from two surveys—one of central bank governors, the other of academic specialists. We find that central banks in …
Persistent link: https://www.econbiz.de/10012958182
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Capital Regulation in a Macroeconomic Model with Three Layers of Default
Clerc, Laurent - 2015
We develop a dynamic general equilibrium model for the positive and normative analysis of macroprudential policies. Optimizing financial intermediaries allocate their scarce net worth together with funds raised from saving households across two lending activities, mortgage and corporate lending....
Persistent link: https://www.econbiz.de/10013019587
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Uncertainty Shocks, Banking Frictions and Economic Activity
Bonciani, Dario - 2015
In this paper we investigate the effects of uncertainty shocks on economic activity in the euro area by using a Dynamic Stochastic General Equilibrium (DSGE) model with heterogenous agents and a stylized banking sector. We show that frictions in credit supply amplify the effects of uncertainty...
Persistent link: https://www.econbiz.de/10013019593
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Fiscal Developments and Financial Stress : A Threshold VAR Analysis
Afonso, António - 2011
We use a threshold VAR analysis to study whether the effects of fiscal policy on economic activity differ depending on financial market conditions. In particular, we investigate the possibility of a non-linear propagation of fiscal developments according to different financial market stress...
Persistent link: https://www.econbiz.de/10013128285
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Monetary Policy, Macroprudential Policy and Financial Stability
Laeven, Luc; Maddaloni, Angela; Mendicino, Caterina - 2022
Recent research developed under the ECB research task force on Monetary Policy, Macroprudential Policy and Financial Stability highlights the existence of trade-offs and spillovers that monetary policy and macroprudential authorities face when deciding on their policy interventions. Monetary...
Persistent link: https://www.econbiz.de/10013299245
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Monetary Policy, Macroprudential Policy, and Financial Stability
Martinez-Miera, David; Repullo, Rafael - 2021
This paper reexamines from a theoretical perspective the role of monetary and macroprudential policies in addressing the build-up of risks in the financial system. We construct a stylized general equilibrium model in which the key friction comes from a moral hazard problem in firms financing...
Persistent link: https://www.econbiz.de/10013315361
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Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Pasricha, Gurnain Kaur - 2015
-border bank lending). Spillovers seem to be more prevalent in Latin America than in Asia, reflecting the greater role of cross …
Persistent link: https://www.econbiz.de/10013016947
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Unconventional Monetary Policy and the Great Recession - Estimating the Impact of a Compression in the Yield Spread at the Zero Lower Bound
Baumeister, Christiane - 2010
inflation. Second, conditional on available estimates of the impact of the FED's and the Bank of England's asset purchase …
Persistent link: https://www.econbiz.de/10013137091
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Capital and Liquidity Buffers and the Resilience of the Banking System in the Euro Area
Budnik, Katarzyna Barbara - 2018
How do capital and liquidity buffers affect the evolution of bank loans in periods of financial and economic distress … relates macroeconomic aggregates to individual bank balance sheet items and interest rates. We find that banks with high … liquidity buffers also affect bank responses to monetary policy shocks. High bank capitalisation reduces the degree to which …
Persistent link: https://www.econbiz.de/10012931100