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An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10014409056
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Financial Sector Debt Bias
Luca, Oana - 2016
Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect … financial stability. This paper models and estimates debt bias in the financial sector, and present novel estimates for … investment banks and non-bank financial intermediaries such as finance and insurance companies. We find debt bias to be pervasive …
Persistent link: https://www.econbiz.de/10014408098
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Bank Debt in Europe; “Are Funding Models Brokenâ€
Lesle, Vanessa Le - International Monetary Fund (IMF) - 2012
The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers. This paper studies the drivers behind this fragility and examines the future of bank funding, primarily wholesale, in Europe. We argue that cyclical and structural factors have...
Persistent link: https://www.econbiz.de/10011242310
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Banks' liability structure and mortgage lending during the financial crisis
Dagher, Jihad C.; Kazimov, Kazim - 2012
We examine the impact of banks' exposure to market liquidity shocks through wholesale funding on their supply of credit during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand factors that could potentially be large when...
Persistent link: https://www.econbiz.de/10009618540
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The domestic credit supply response to international bank deleveraging : is Asia different?
Aiyar, Shekhar; Jain Chandra, Sonali - 2012
During the global financial crisis, European banks contracted foreign claims on recipient economies sharply. This paper examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia. Identification is achieved by exploiting heterogeneity in...
Persistent link: https://www.econbiz.de/10009659761
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Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area
Tressel, Thierry; Zhang, Yuanyan - 2016
The crisis has highlighted the importance of setting up macro-prudential oversight frameworks, having effective macro-prudential instruments in place to be called upon to mitigate growing financial imbalances as needed. We develop a new approach using the euro area Bank Lending Survey to assess...
Persistent link: https://www.econbiz.de/10014408006
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Credit Matters : Empirical Evidence on U.S. Macro-Financial Linkages
Bayoumi, Tamim - 2008
This paper develops a framework for analyzing macro-financial linkages in the United States. We estimate the effects of a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and corporate loans, and the corresponding components of...
Persistent link: https://www.econbiz.de/10014409035
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An Anatomy of Credit Booms
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10012677365
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Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe
Igan, Deniz - 2008
This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence is found that rapid loan expansion has weakened banks...
Persistent link: https://www.econbiz.de/10012677467
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Exposure to Real Estate Losses
Pinheiro, Marcelo - 2009
We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to be the major determinants of delinquency. Then, we adopt a stress testing approach to calculate the impact of any adverse changes in these...
Persistent link: https://www.econbiz.de/10012677478