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Liability Dollarization and the Bank Balance Sheet Channel

Cook, David - 2002

Banks in developing economies often face a mismatch in the currency denomination of their liabilities (foreign currency denominated debt) and assets (domestic currency loans to domestic borrowers). We study the effect of this mismatch on business cycles and monetary policy in a sticky-price,...

Persistent link: https://www.econbiz.de/10014399644

Does Central Bank Capital Matter for Monetary Policy?

Tovar Mora, Camilo Ernesto - 2012

Heavy foreign exchange intervention by central banks of emerging markets have lead to sizeable expansions of their balance sheets in recent years?accumulating foreign assets and non-money domestic liabilities (the latter due to sterilization operations). With domestic liabilities being mostly of...

Persistent link: https://www.econbiz.de/10014396960

Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy

Kourelis, Angeliki - 1994

The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides...

Persistent link: https://www.econbiz.de/10014396171

Monetary policy in a developing country : loan applications and real effects

Abuka, Charles; Alinda, Ronnie K.; Minoiu, Camelia; … - 2015

behavior of banks with high capital and liquidity is different from that of banks with low capital and liquidity. Finally, we …

Persistent link: https://www.econbiz.de/10012008491

Scarcity effects of quantitative easing on market liquidity : evidence from the Japanese government bond market

Han, Fei; Seneviratne, Dulani - 2018

Quantitative easing could improve market liquidity through many channels such as relaxing bank funding constraints …, increasing risk appetite, and facilitating trades. However, it can also reduce market liquidity when the increase in the central …) effects of the Bank of Japan (BOJ)'s JGB purchases on market liquidity. Moreover, we also find evidence that such scarcity …

Persistent link: https://www.econbiz.de/10011852598

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

Does central bank capital matter for monetary policy?

Adler, Gustavo; Castro, Pedro; Tovar, Camilo Ernesto - 2012

Persistent link: https://www.econbiz.de/10009572507

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

Monetary Transmission in Low Income Countries

Montiel, Peter - 2010

This paper reviews monetary transmission mechanisms in low-income countries (LICs) to identify aspects of the channels that may operate differently in LICs relative to advanced and emerging economies. Given the weak institutional frameworks, reduced role of securities markets, imperfect...

Persistent link: https://www.econbiz.de/10014397443

Heterogeneous Bank Lending Responses to Monetary Policy : New Evidence from a Real-time Identification

Bluedorn, John - 2013

We present new evidence on how heterogeneity in banks interacts with monetary policy changes to impact bank lending. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time economic forecasts, we find much greater heterogeneity in U.S. bank lending responses...

Persistent link: https://www.econbiz.de/10014395177

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