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Risk Taking and Interest Rates : Evidence from Decades in the Global Syndicated Loan Market
Lee, Seung Jung - 2017
We study how low interest rates in the United States affect risk taking in the market of cross-border leveraged corporate loans. To the extent that actions of the Federal Reserve affect U.S. interest rates, our analysis provides evidence of a cross-border spillover effect of monetary policy. We...
Persistent link: https://www.econbiz.de/10012961476
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Fiscal Consolidation and the Cost of Credit : Evidence from Syndicated Loans
Agca, Senay - 2013
We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic...
Persistent link: https://www.econbiz.de/10013086310
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Borrowing Costs and the Role of Multilateral Development Banks : Evidence from Cross-Border Syndicated Bank Lending
Gurara, Daniel - 2019
Cross-border bank lending is a growing source of external finance in developing countries and could play a key role for …
Persistent link: https://www.econbiz.de/10012895120
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Global Liquidity and Drivers of Cross-Border Bank Flows
Cerutti, Eugenio - 2014
global factors driving cross-border bank flows, alongside country-specific factors. It confirms the explanatory power of US … financial conditions, with flows decreasing in market volatility (VIX) and term premia, and increasing in bank leverage, growth … frameworks and better bank regulation, but less so for flows to non-financial firms …
Persistent link: https://www.econbiz.de/10013053045
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Does Gross or Net Debt Matter More for Emerging Market Spreads?
Hadzi-Vaskov, Metodij - 2017
Does gross or net debt matter for long-term sovereign spreads in emerging markets? The topic is important for understanding the borrowing cost implications of public asset liability management decisions (e.g. using assets to lower debt). We investigate this question using data on emerging market...
Persistent link: https://www.econbiz.de/10012962144
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Bank Behavior in Response to Basel III : A Cross-Country Analysis
Cosimano, Thomas F. - 2011
This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank …
Persistent link: https://www.econbiz.de/10013124072
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How Effective is Macroprudential Policy? Evidence from Lending Restriction Measures in EU Countries
Poghosyan, Tigran - 2019
This paper assesses the effectiveness of lending restriction measures, such as loan-to-value and debt-service-to-income ratios, in affecting developments in house prices and credit. We use data on 99 lending standard restrictions implemented in 28 EU countries over 1990-2018. The results suggest...
Persistent link: https://www.econbiz.de/10012889146
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Mitigating the Deadly Embrace in Financial Cycles : Countercyclical Buffers and Loan-to-Value Limits
Beneš, Jaromír - 2016
, and bank mortgages are intertwined in what we call a deadly embrace. Without macroprudential policies, this deadly embrace …
Persistent link: https://www.econbiz.de/10012977752
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IMF Lending and Banking Crises
Papi, Luca - 2015
This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting an instrumental variable strategy and a propensity score...
Persistent link: https://www.econbiz.de/10013027614
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International Fiscal-Financial Spillovers : The Effect of Fiscal Shocks on Cross-Border Bank Lending
Choi, Sangyup - 2019
domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending …-border bank lending. The magnitude of the effect is also economically significant: the effect of 1 percent of GDP increase …
Persistent link: https://www.econbiz.de/10012864117