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Export subsidies in a heterogeneous firms framework

Helmers, Christian (contributor); … - 2009

We evaluate the impact of firm-specific export subsidies on exports in Colombia. Using a two-stage Heckman selection procedure, we obtain firm-specific predicted subsidy amounts that can be explained by the characteristics that determine the firms' eligibility for the government support and its...

Persistent link: https://www.econbiz.de/10003794260

Shooting the messenger of good news : a critical look at the World Bank's success story of effective aid

Nunnenkamp, Peter - 2002

In a report presented at the UN Conference on Financing for Development in March 2002, the World Bank claims that the … policies. However, the World Bank's success story rests on an extremely weak foundation: First, the institution's contribution … the distribution of World Bank financing. Second, the picture portrayed in the report takes a bad turn if only two …

Persistent link: https://www.econbiz.de/10011495588

Sectoral aid priorities : are donors really doing their best to achieve the millennium development goals?

Thiele, Rainer - 2006

We analyze the aid portfolio of various bilateral and multilateral donors, testing whether they have prioritised aid in line with the Millennium Development Goals (MDGs). In doing so, we combine sectorally disaggregated aid data with indicators reflecting the situation of recipient countries...

Persistent link: https://www.econbiz.de/10003247640

Compositional effects of O-SII capital buffers and the role of monetary policy

Reghezza, Alessio; D'Acri, Costanza Rodriguez; … - 2020

We investigate the impact of macroprudential capital requirements on bank lending behaviour across economic sectors, focusing on their potentially heterogenous effects and transmission channel. By employing confidential loan-level data for the euro area over 2015-18, we find that the reaction of...

Persistent link: https://www.econbiz.de/10012241280

Capital requirements, risk shifting and the mortgage market

Uluc, Arzu; Wieladek, Tomasz - 2017

We study the effect of changes to bank-specific capital requirements on mortgage loan supply with a new loan-level dataset containing all mortgages issued in the UK between 2005Q2 and 2007Q2. We find that a rise of a 100 basis points in capital requirements leads to a 5.4% decline in individual...

Persistent link: https://www.econbiz.de/10011647900

Whatever it takes : what's the impact of a major nonconventional monetary policy intervention?

Alcaraz, Carlo; Claessens, Stijn; Cuadra, Gabriel; … - 2019

We assess how a major, unconventional central bank intervention, Draghi's "whatever it takes" speech, affected lending conditions. Similar to other large interventions, it responded to adverse financial and macroeconomic developments that also influenced the supply and demand for credit. We...

Persistent link: https://www.econbiz.de/10011987129

US monetary policy spillovers to European banks

Jung, Alexander - 2023

The Federal Reserve's (Fed) monetary policy announcements have created massive spillovers to global financial markets. Based on daily data for the sample from 1999 to 2019, this study finds that the Fed's monetary policy announcements created significant international spillovers to bond yields...

Persistent link: https://www.econbiz.de/10014483005

Caution: do not cross! : capital buffers and lending in Covid-19 times

Couaillier, Cyril; Lo Duca, Marco; Reghezza, Alessio; … - 2022

While regulatory capital buffers are expected to be drawn to absorb losses and meet credit demand during crises, this paper shows that banks were unwilling to do so during the pandemic. To the contrary, banks engaged in forms of pro-cyclical behaviour to preserve capital ratios. By employing...

Persistent link: https://www.econbiz.de/10012818793

A risk management perspective on macroprudential policy

Chavleishvili, Sulkhan; Fahr, Stephan; Kremer, Manfred; … - 2021

Macroprudential policymakers assess medium-term downside risks to the real economy arising from financial imbalances and implement policies aimed at managing those risks. In doing so, they face an inherent intertemporal trade-off between the expected growth and downside risks. This paper reviews...

Persistent link: https://www.econbiz.de/10012519434

Financial policy in an exuberant world

Walther, Ansgar - 2020

This paper studies optimal financial policy in a world where the financial sector can become excessively optimistic. I …

Persistent link: https://www.econbiz.de/10012178343

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