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IT use, productivity, and market power in banking

Koetter, Michael; Noth, Felix - In: Journal of Financial Stability 9 (2013) 4, pp. 695-704

-augmented bank productivity relates to differences in market power. Detailed bank-level information on the use of IT reveals a … substantial upward bias in bank productivity estimates when ignoring banks’ IT expenditures. IT-augmented bank productivity … range of bank output definitions and productivity estimation methods. …

Persistent link: https://www.econbiz.de/10010729654

Risk shifting in the US banking system: An empirical analysis

Duran, Miguel A.; Lozano-Vivas, Ana - In: Journal of Financial Stability 13 (2014) C, pp. 64-74

This paper contributes to the empirical literature on risk shifting. It proposes a method to find out whether risk shifting is present in the banking industry and, if so, what type. The type of risk shifting depends on the group of debt holders to whom risk is shifted. We apply this method to...

Persistent link: https://www.econbiz.de/10010906515

Asymmetric effects of households’ financial participation on banking diversification

Chen, Pei-Fen; Zeng, Jhih-Hong - In: Journal of Financial Stability 13 (2014) C, pp. 18-29

This paper examines banks’ diversification–performance nexus from the perspective of demand, the magnitude of households’ financial participation, with bank data from 22 European countries over the period from 2002 to 2009. We argue that the magnitude of households’ financial...

Persistent link: https://www.econbiz.de/10010906517

Bank risk factors and changing risk exposures: Capital market evidence before and during the financial crisis

Bessler, Wolfgang; Kurmann, Philipp - In: Journal of Financial Stability 13 (2014) C, pp. 151-166

We analyze the capital market assessment of bank risk factors in Europe and the United States for the 1990–2011 period. The focus is on bank stock returns in a multi-factor framework that includes interest rate risk and market risk as well as credit risk, real estate risk, sovereign risk, and...

Persistent link: https://www.econbiz.de/10010906518

Systemic risk in an interconnected banking system with endogenous asset markets

Bluhm, Marcel; Krahnen, Jan Pieter - In: Journal of Financial Stability 13 (2014) C, pp. 75-94

We analyze the emergence of systemic risk in a network model of interconnected bank balance sheets. The model incorporates multiple sources of systemic risk, including size of financial institutions, direct exposure from interbank lendings, and asset fire sales. We suggest a new macroprudential...

Persistent link: https://www.econbiz.de/10010906519

International diversification and risk of multinational banks: Evidence from the pre-crisis period

Gulamhussen, M.A.; Pinheiro, Carlos; Pozzolo, Alberto Franco - In: Journal of Financial Stability 13 (2014) C, pp. 30-43

The recent financial crisis has clearly shown that the relationship between bank internationalization and risk is complex. Multinational banks can benefit from portfolio diversification, reducing their overall riskiness, but this effect can be offset by incentives going in the opposite...

Persistent link: https://www.econbiz.de/10010906520

Financial fragility and natural disasters: An empirical analysis

Klomp, Jeroen - In: Journal of Financial Stability 13 (2014) C, pp. 180-192

Using data for more than 160 countries in the period 1997–2010, we explore the impact of large-scale natural disasters on the distance-to-default of commercial banks. The financial consequences of natural catastrophes may stress and threaten the existence of a bank by adversely affecting their...

Persistent link: https://www.econbiz.de/10010906521

Financial crises: Lessons from the Nordic experience

Honkapohja, Seppo - In: Journal of Financial Stability 13 (2014) C, pp. 193-201

The current financial crisis is the 19th such crisis in the post-war period in advanced economies. Recent literature classifies the Nordic crises in Norway, Sweden and Finland in late 1980s and early 1990s among the Big Five crises that have happened before the current crisis, which is now of a...

Persistent link: https://www.econbiz.de/10010906522

Catharsis—The real effects of bank insolvency and resolution

Korte, Josef - In: Journal of Financial Stability 16 (2015) C, pp. 213-231

This paper analyzes the impact of rules-based bank insolvency resolution on real economic growth. Resolving insolvent banks can positively affect the real economy by overcoming moral hazard problems and improving banks’ credit allocation and monitoring. We propose a new indicator to measure...

Persistent link: https://www.econbiz.de/10011208750

Sturm und Drang in money market funds: When money market funds cease to be narrow

Jank, Stephan; Wedow, Michael - In: Journal of Financial Stability 16 (2015) C, pp. 59-70

This paper investigates the returns and flows of German money market funds before and during the financial crisis of 2007/2008. The main finding of this paper is that, in liquid times, some money market funds (MMF) enhanced their returns by investing in riskier assets. By doing so they...

Persistent link: https://www.econbiz.de/10011208751

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