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Market power and monetary policy transmission

Duval, Romain; Furceri, Davide; Lee, Raphael; Mendes … - 2021

We show that firms' market power dampens the response of their output to monetary policy shocks, using firm-level data for the United States and a large cross-country firm-level dataset for 14 advanced economies. The estimated impact of a firm's markup on its response to a monetary policy shock...

Persistent link: https://www.econbiz.de/10012605640

Bank Lending and Interest Rate Changes in a Dynamic Matching Model

Dell'Ariccia, Giovanni - 1998

This paper presents theory and evidence on the dynamic relationship between aggregate bank lending and interest rate … consuming. It shows that the response of bank lending to changes in money market rates is likely to be asymmetric and depends … existing loans. Empirically, it provides evidence that bank lending in Mexico and the United States responds asymmetrically to …

Persistent link: https://www.econbiz.de/10014400310

Risk taking and interest rates : evidence from decades in the global syndicated loan market

Lee, Seung Jung; Liu, Lucy Qian; Stebunovs, Viktors - 2017

We study how low interest rates in the United States affect risk taking in the market of crossborder 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/10011716480

Interest Spreads in Banking : Costs, Financial Taxation, Market Power, and Loan Quality in the Colombian Case 1974-1996

Barajas, Adolfo - 1998

over two decades. A reduced-form equation is estimated on the basis of a bank profit maximization model that permits a …

Persistent link: https://www.econbiz.de/10014400667

Determinants of bank interest margins in the Caucasus and Central Asia

Almarzoqi, Raja; Ben Naceur, Samy - 2015

Persistent link: https://www.econbiz.de/10011281169

Bank Concentration and the Supply of Credit in Argentina

Cañonero, Gustavo Enrique - 1997

information asymmetries in the banking sector, it also may have contributed to the contraction in bank lending observed during …

Persistent link: https://www.econbiz.de/10014403360

Secular drivers of the natural rate of interest in the United States : a quantitative evaluation

Platzer, Josef; Peruffo, Marcel - 2022

We develop a heterogeneous agent, overlapping generations model with nonhomothetic preferences that nests several explanations for the decline in the natural rate of interest (r*) suggested in the literature: demographic change, a slowdown in productivity growth, a rise in income inequality, and...

Persistent link: https://www.econbiz.de/10013170272

Scenario analysis with the DD-PD mapping approach : stock market shocks and U.S. corporate default risk

Chan-Lau, Jorge A. - 2021

additional bank capital needs could be large. The paper concludes discussing uses of the mapping beyond PD valuation suitable for …

Persistent link: https://www.econbiz.de/10012613371

Measuring concentration risk : a partial portfolio approach

Grippa, Pierpaolo; Gornicka, Lucyna - 2016

Concentration risk is an important feature of many banking sectors, especially in emerging and small economies. Under the Basel Framework, Pillar 1 capital requirements for credit risk do not cover concentration risk, and those calculated under the Internal Ratings Based (IRB) approach...

Persistent link: https://www.econbiz.de/10011715110

Globalization, market power, and the natural interest rate

Natal, Jean-Marc; Stoffels, Nicolas - 2019

We argue that strong globalization forces have been an important determinant of global real interest rates over the last five decades, as they have been key drivers of changes in the natural real interest rate-i.e. the interest rate consistent with output at its potential and constant inflation....

Persistent link: https://www.econbiz.de/10012021793

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