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Lopez-Quiles, Carolina - 2025

We examine spillovers from ECB's TLTROs on European countries outside the euro area. Using individual banks' balance sheet data, we find that TLTROs lowered funding and lending rates for foreign-owned subsidiaries, especially in emerging market economies. We also find an increase in...

Persistent link: https://www.econbiz.de/10015328071

ECB Spillovers to Emerging Europe: The Past and Current Experience

Engler, Philipp - 2024

We provide new evidence on the spillover effects of ECB monetary policy shocks to emerging European economies, using a combination of empirical methods and model-based simulations and focusing on spillovers from interest rate and balance sheet policies implemented by the ECB. We consider an...

Persistent link: https://www.econbiz.de/10015328525

Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

Belkhir, Mohamed - 2023

This paper investigates macroprudential policy effects on bank systemic risk and the role of inflation targeting in … such effects. Using bank-level data for 45 countries comprising various monetary and exchange rate regimes, our regime … tightening of most macroprudential tools-including DSTI and LTV limits, and capital requirements-reduces bank systemic risk …

Persistent link: https://www.econbiz.de/10015059389

Trade Effects of Currency Unions

Albertin, Giorgia - 2008

This paper provides a general equilibrium analysis of the trade effects of the formation of a currency union, and of its subsequent enlargement to include an economically dissimilar country. Furthermore, it investigates how economic dissimilarities among countries affect the magnitude of the...

Persistent link: https://www.econbiz.de/10012677679

Being a Foreigner Among Domestic Banks

Horen, Neeltje van - 2009

Studying a large number of banks in various countries between 1999 and 2006, we document that foreign banks perform better when from a high income country, when host country competition is limited, and when they are large and rely more on deposits for funding. Foreign banks' performance improves...

Persistent link: https://www.econbiz.de/10012677516

Investment in the Euro Area: Why Has It Been Weak?

Barkbu, Bergljot; Berkmen, Pelin; Lukyantsau, Pavel; … - International Monetary Fund (IMF) - 2015

Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most previous recessions and financial crises. This paper shows that a part of this weakness can be explained by output dynamics, particularly before the European sovereign debt crisis....

Persistent link: https://www.econbiz.de/10011242193

Domestic Investment and the Cost of Capital in the Caribbean.

Roache, Shaun K - 2006

INVESTMENT MODEL -- V. DATA -- VI. ESTIMATION ISSUES -- VII. ESTIMATION RESULTS -- VIII. CONCLUSIONS -- References -- Data …

Persistent link: https://www.econbiz.de/10012691011

Credit Risk Spreads in Local and Foreign Currencies

Wiener, Zvi - 2009

The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper when the exchange rate is positively correlated with the...

Persistent link: https://www.econbiz.de/10012677782

Public versus Private Cost of Capital with State-Contingent Terminal Value

Greco, Luciano - 2023

The economic debate underlines the reasons why discount rates of infrastructure projects should be similar, regardless the public or private source of financing, during the forecast period when flows are risky but predictable. In contrast, we show that the incompleteness of contracts between...

Persistent link: https://www.econbiz.de/10015059616

Fiscal consolidation and the cost of credit : evidence from syndicated loans

Ağca, Şenay; Igan, Deniz - 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/10009706780