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Credit Constraints, Political Instability, and Capital Accumulation
Herrala, Risto - 2014
We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore's (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical...
Persistent link: https://www.econbiz.de/10013060551
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The U.S. Personal Saving Rate
Ouliaris, Sam - 2018
rate after 2008 was due to sizable, but transitory, income/wealth shocks or to changes in the underlying elasticities … income, employment and wealth. This result explains why the saving rate resumed its decline in 2013, as real disposable … income, employment and net worth recovered. Assuming that the real growth in these determinants remains strong, the estimated …
Persistent link: https://www.econbiz.de/10012913898
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Wholesale Bank Funding, Capital Requirements and Credit Rationing
Agur, Itai - 2013
This paper analyzes how different types of bank funding affect the extent to which banks ration credit to borrowers, and the impact that capital requirements have on that rationing. Using an extension of the standard Stiglitz-Weiss model of credit rationing, unsecured wholesale finance is shown...
Persistent link: https://www.econbiz.de/10013086327
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Towards Macroprudential Stress Testing : Incorporating Macro-Feedback Effects
Krznar, Ivo - 2017
Macro-feedback effects have been identified as a key missing element for more effective macro-prudential stress testing. To fill this gap, this paper develops a framework that facilitates the analysis of both the direct effects of macroeconomic shocks on the solvency of individual banks and...
Persistent link: https://www.econbiz.de/10012950402
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Assessing Macro-Financial Risks of Household Debt in China
Han, Fei - 2020
in the medium-to-long term. By stress testing households' debt repayment capacity, we find that low-income households are … most vulnerable to adverse income shocks which could lead to signficant defaults. Containing these risks would call for a …
Persistent link: https://www.econbiz.de/10012843517
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What is Driving Women's Financial Inclusion Across Countries?
Deléchat, Corinne - 2018
Using a broad set of macroeconomic country characteristics to supplement a new and comprehensive micro-level dataset for 140 countries, we identify structural factors, policies, and individual characteristics that are associated with financial inclusion-in general, and for women in particular....
Persistent link: https://www.econbiz.de/10012924270
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Household Vulnerability to Income Shocks in Emerging and Developing Asia : The Case of Cambodia, Nepal and Vietnam
De Stefani, Alessia; Laws, Athene; Sollaci, Alexandre - 2022
income shocks arising from the Covid-19 pandemic: occupation in Cambodia, self-insurance mechanisms in Nepal, and financial … leverage in Vietnam. Occupation and ex-ante income levels emerge as the main drivers of vulnerability. We estimate that the …
Persistent link: https://www.econbiz.de/10013291774
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Drivers of Financial Access : The Role of Macroprudential Policies
Deléchat, Corinne - 2020
characteristics. We start our analysis on middle and low-income countries, and then zoom in on sub-Saharan Africa, currently the …
Persistent link: https://www.econbiz.de/10012829697
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Non-Primary Home Buyers, Shadow Banking, and the US Housing Market
Alter, Adrian; Dernaoui, Zaki - 2021
This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998-2018. First, we document the evolution of different types of investment purchases such as those conducted by short-term buyers, out-of-state...
Persistent link: https://www.econbiz.de/10013315117
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Consumption Effects of Mortgage Payment Holidays : Evidence During the COVID-19 Pandemic
Albuquerque, Bruno; Varadi, Alexandra - 2022
We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage PH were accessed by both households with pre-existing...
Persistent link: https://www.econbiz.de/10013294802