Narrow search
Showing 1 - 10 of 82
Cover Image
Monetary Policy, macroprudential Policy, and Banking Stability: Evidence from the Euro Area
Maddalonia, Angela; Peydro, Jose-Luis - In: International Journal of Central Banking 9 (2013) 1, pp. 121-169
We analyze the impact on lending standards of monetary policy rates and macroprudential policy before the 2008 crisis, and of monetary rates and long-term public liquidity during the crisis. Exploiting the euro-area institutional setting for monetary and prudential policy and using the Bank...
Persistent link: https://www.econbiz.de/10010617354
Cover Image
Financial Frictions and Macroprudential Policy
Brzoza-Brzezina, Michal - In: International Journal of Central Banking 10 (2014) 2, pp. 249-261
Incorporating financial intermediaries, with their ability to generate shocks and frictions, into macroeconomic models has recently gained substantial attention of the profession. In this commentary I ask whether the models we generated are ripe to provide valuable, quantitative advice to...
Persistent link: https://www.econbiz.de/10010778575
Cover Image
The Safety of Cash and Debit Cards: A Study on the Perception and Behavior of Dutch Consumers
Kosse, Anneke - In: International Journal of Central Banking 9 (2013) 4, pp. 77-98
This paper investigates the impact of the perceived payment safety on debit card and cash usage. It provides a …
Persistent link: https://www.econbiz.de/10010717733
Cover Image
Modeling the Share of Cash Payments in the Economy: An Application to France
Bouhdaoui, Yassine; Bounie, David - In: International Journal of Central Banking 8 (2012) 4, pp. 175-195
Modeling the demand for cash and deposits is a primary concern for central banks. Within a wide range of academic … same payment instrument. We propose a simple alternative model based on cash holding (CH model) that allows equal …-sized transactions to be paid for in cash or with other payment instruments. Using micro-level payment data from two representative …
Persistent link: https://www.econbiz.de/10010616554
Cover Image
Did Prices Really Soar after the Euro Cash Changeover? Evidence from ATM Withdrawals
Angelini, Paolo; Lippi, Francesco - In: International Journal of Central Banking 3 (2007) 4, pp. 1-22
question. In this paper we gather indirect evidence on the behavior of prices from the analysis of cash withdrawals from …
Persistent link: https://www.econbiz.de/10005766615
Cover Image
The Effects of Bank Capital on Lending: What Do We Know, and What Does It Mean?
Berrospide, Jose M.; Edge, Rochelle M. - In: International Journal of Central Banking 6 (2010) 34, pp. 1-50
The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. We use panel regression techniques—following Bernanke and Lown (1991) and Hancock and Wilcox (1993,...
Persistent link: https://www.econbiz.de/10008765876
Cover Image
Capital Regulation, Monetary Policy, and Financial Stability
Agenor, R. P.; Alper, K.; Silva, L. Pereira da - In: International Journal of Central Banking 9 (2013) 3, pp. 198-243
This paper examines the roles of bank capital regulation and monetary policy in mitigating procyclicality and promoting macroeconomic and financial stability. The analysis is based on a dynamic stochastic model with imperfect credit markets. Macroeconomic stability is defined in terms of a...
Persistent link: https://www.econbiz.de/10010839272
Cover Image
Global Banking and the Balance Sheet Channel of Monetary Transmission
Alpanda, Sami; Aysun, Uluc - In: International Journal of Central Banking 8 (2012) 3, pp. 141-175
The literature typically finds that the development of financial markets has decreased the ability of central banks to affect the real economy. This paper shows that this negative relationship does not hold between the balance sheet channel of monetary transmission and bank globalization-one...
Persistent link: https://www.econbiz.de/10010569708
Cover Image
Stock Liquidity Requirements and the Insurance Aspect of the Lender of Last Resort
Pagratis, Spyros - In: International Journal of Central Banking 3 (2007) 3, pp. 119-146
This paper considers a model of information-based bank runs where a central bank sets its lender of last resort (LOLR) policy in order to maximize welfare. To mitigate the risks associated with overinvestment by the banking sector, the central bank sets prudential liquidity requirements for the...
Persistent link: https://www.econbiz.de/10005824359
Cover Image
Imperfect Common Knowledge in First-Generation Models of Currency Crises
Minguez-Afonso, Gara - In: International Journal of Central Banking 3 (2007) 1, pp. 81-112
First-generation models assume that the level of reserves of a central bank is common knowledge among arbitrageurs, and therefore the timing of the attack on the currency can be correctly anticipated. The collapse of the peg thus leads to no discrete change in the exchange rate. We relax the...
Persistent link: https://www.econbiz.de/10005824360