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Housing, Consumption and Monetary Policy : How Different are the US and the Euro Area?
Musso, Alberto - 2012
real house price, residential investment and mortgage debt on the two sides of the Atlantic. Then, it presents evidence …
Persistent link: https://www.econbiz.de/10013116395
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House Prices, Home Equity and Entrepreneurships
Corradin, Stefano - 2013
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537
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Housing Finance and Monetary Policy
Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - 2021
main facts: first, the features of residential mortgage markets differ markedly across industrialized countries; second … house prices is significantly stronger in those countries with larger flexibility/development of mortgage markets; third …, the transmission to consumption is stronger only in those countries where mortgage equity release is common and mortgage …
Persistent link: https://www.econbiz.de/10013316354
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Monetary Policy, Housing Booms and Financial (Im) Balances
Eickmeier, Sandra - 2015
a strong short-lived effect on risk spreads in the money and mortgage markets; (ii) monetary policy shocks have …
Persistent link: https://www.econbiz.de/10013038915
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Financing Constraints, Employment, and Labor Compensation : Evidence from the Subprime Mortgage Crisis
Popov, Alexander A. - 2015
to German savings banks during the US mortgage crisis that are unrelated to local conditions. We find that firms with …
Persistent link: https://www.econbiz.de/10013019626
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Real Estate Markets and Macroprudential Policy in Europe
Hartmann, Philipp - 2015
Boom-bust cycles in real estate markets have been major factors in systemic financial crises and therefore need to be at the forefront of macroprudential policy. The geographically differentiated nature of real estate market fluctuations implies that these policies need to be granular across...
Persistent link: https://www.econbiz.de/10013020662
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The Real Effects of FinTech Lending on SMEs : Evidence from Loan Applications
Eca, Afonso; Ferreira, Miguel A.; Prado, Melissa Porras; … - 2022
We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer-to-Business platform for which we have the universe of loan applications. We find that FinTech serves high quality and creditworthy small businesses who already have access to bank...
Persistent link: https://www.econbiz.de/10013302730
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Bank Private Information in CDS Markets
Bilan, Andrada; Ongena, Steven; Pancaro, Cosimo - 2023
Can banks trade credit default swaps (CDSs) referenced on their current corporate clients at competitive prices, or are banks penalized for potentially holding private information? To answer this question we merge CDS trades reported under the European Market Infrastructure Regulation (EMIR)...
Persistent link: https://www.econbiz.de/10014354665
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Interbank lending, credit risk premia and collateral
Heider, Florian; Hoerova, Marie - 2009
We study the functioning of secured and unsecured inter-bank markets in the presence of credit risk. The model generates empirical predictions that are in line with developments during the 2007-2009 financial crises. Interest rates decouple across secured and unsecured markets following an...
Persistent link: https://www.econbiz.de/10011605153
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An Analysis of Euro Area Sovereign CDS and Their Relation with Government Bonds
Fontana, Alessandro - 2010
This paper studies the relative pricing of euro area sovereign CDS and the underlying government bonds. Our sample comprises weekly CDS and bond spreads of ten euro area countries for the period from January 2006 to June 2010. We first compare the determinants of CDS spreads and bond spreads and...
Persistent link: https://www.econbiz.de/10013135678