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The Bank Lending Channel of Monetary Transmission : Does it Work in Turkey?
Koeva Brooks, Petya - 2007
Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as … response of Turkey''s banks, depending on their balance sheet characteristics. The empirical results indicate that banks can … play a role in Turkey''s monetary transmission mechanism. Specifically, bank liquidity is found to have a significant …
Persistent link: https://www.econbiz.de/10014400425
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One money, many markets : monetary transmission and housing financing in the euro area
Corsetti, Giancarlo; Duarte, Joao B.; Mann, Samuel - 2020
We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...
Persistent link: https://www.econbiz.de/10012252067
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Has higher household indebtedness weakened monetary policy transmission?
Gelos, Gaston; Grinberg, Federico; Mancini Griffoli, Tommaso - 2019
Has monetary policy in advanced economies been less effective since the global financial crisis because of deteriorating household balance sheets? This paper examines the question using household data from the United States. It compares the responsiveness of household consumption to monetary...
Persistent link: https://www.econbiz.de/10012001512
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Banks' liability structure and mortgage lending during the financial crisis
Dagher, Jihad C.; Kazimov, Kazim - 2012
during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand … disaggregated data on mortgage applications that we use allows us to study the time variations in banks' decisions to grant mortgage …
Persistent link: https://www.econbiz.de/10009618540
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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/10012009445
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Exposure to Real Estate Losses : Evidence from the US Banks
Pinheiro, Marcelo - 2009
mortgage interest rate leads to a 20 percent decrease in a typical bank''s distance to default. Finally, we look at the cross …
Persistent link: https://www.econbiz.de/10014403078
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Banks' Liability Structure and Mortgage Lending During the Financial Crisis
Dagher, Jihad - 2012
during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand … disaggregated data on mortgage applications that we use allows us to study the time variations in banks’ decisions to grant mortgage … credit significantly more than retail-funded banks during the crisis. The demand for mortgage credit, on the other hand …
Persistent link: https://www.econbiz.de/10014396394
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US vs. euro area : who drives cross border bank lending to EMs?
Cerutti, Eugenio M.; Osorio Buitron, Carolina - 2019
This paper analyzes the drivers of cross-border bank lending to 49 Emerging Markets (EMs) during the period 1990Q1-2014Q4, by assessing the impact of monetary, financial and real sector shocks in both the US and the euro area. The literature has traditionally highlighted the influence of US...
Persistent link: https://www.econbiz.de/10012103728
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Negative monetary policy rates and portfolio rebalancing : evidence from credit register data
Bottero, Margherita; Minoiu, Camelia; Peydró, José-Luis; … - 2019
We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply-- -and hence the real economy---through a portfolio rebalancing channel. NIRP affects banks...
Persistent link: https://www.econbiz.de/10012009439
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International bank lending channel of monetary policy
Albrizio, Silvia; Choi, Sangyup; Furceri, Davide; Yoon, … - 2019
How does domestic monetary policy in systemic countries spillover to the rest of the world? This paper examines the transmission channel of domestic monetary policy in the cross-border context. We use exogenous shocks to monetary policy in systemically important economies, including the U.S.,...
Persistent link: https://www.econbiz.de/10012154603