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Drechsler, Itamar - 2016

by only comparing different branches of the same bank. Since deposits are the main source of liquid assets for households …. Since deposits are also a uniquely stable funding source for banks, the deposits channel impacts bank lending. When the Fed … estimates imply that the deposits channel can account for the entire transmission of monetary policy through bank balance sheets …

Persistent link: https://www.econbiz.de/10012994893

Banks’ Internal Capital Markets and Deposit Rates

Ben-David, Itzhak - 2015

. Using branch-level deposit rate data, we find little evidence for market discipline as rates are similar across bank … correlated with loan growth in other states in which their bank has some presence, suggesting internal capital markets help … reallocate the bank's funding …

Persistent link: https://www.econbiz.de/10013016009

Deposit Market Power, Funding Stability and Long-Term Credit

Li, Lei; Loutskina, Elena; Strahan, Philip E. - 2021

This paper shows that banks raising deposits in more concentrated markets have more funding stability, which enhances banks’ ability to extend longer-maturity loans. We show that banks raising deposits in concentrated markets exhibit less pro-cyclical financing costs and profits, which in turn...

Persistent link: https://www.econbiz.de/10013310157

The Internationalization of American Banking and Finance : Structure, Risk, Adn World Interest Rates

Darby, Michael R. - 2008

The transformation of American banking from the parochialism of 1960to the internationally linked structure of the 1980s is analyzed anddetailed quantitatively. While the liberalization of trade and theexistence of and changes in financial regulations profoundly affected thepace and order of...

Persistent link: https://www.econbiz.de/10012774627

Self Control and Commitment : Can Decreasing the Liquidity of a Savings Account Increase Deposits?

Beshears, John - 2015

If individuals have self-control problems, they may take up commitment contracts that restrict their spending. We experimentally investigate how contract design affects the demand for commitment contracts. Each participant divides money between a liquid account, which permits unrestricted...

Persistent link: https://www.econbiz.de/10013017088

Federal Reserve Private Information and the Behavior of Interest Rates

Romer, Christina; Romer, David - 2021

Many authors argue that asymmetric information between the Federal Reserve and the public is important to the conduct and the effects of monetary policy. This paper tests for the existence of such asymmetric information by examining Federal Reserve and commercial inflation forecasts. We...

Persistent link: https://www.econbiz.de/10013218719

On the Predictive Power of Interest Rates and Interest Rate Spreads

Bernanke, Ben - 2021

A number of interest rates and interest rate spreads have been found to be useful in prediction the course of the economy. We compare the predictive power of some of these suggested interest rate variables for nine indicators of real activity and the inflation rate. Our results are consistent...

Persistent link: https://www.econbiz.de/10013219989

The Determination of Long-Term Interest Rates : Implications for Monetary and Fiscal Policies

Friedman, Benjamin M. - 2021

The object of this paper is to bring to bear on financial-non financial interactions a richer approach to modeling the determination of long-term interest rates. in a series of previous papers. I have developed an alternative model based explicitly on the truism that any factor affecting...

Persistent link: https://www.econbiz.de/10013220969

Exchange-Rate Expectations and Nominal Interest Differentials : A Test Ofthe Fisher Hypothesis

Cumby, Robert E.; Obstfeld, Maurice - 2021

This note tests the hypothesis that nominal interest differentials between similar assets denominated in different currencies can be explained entirely by the expected change in the exchange rate over the holding period. This proposition, often called the "Fisher open" hypothesis or the...

Persistent link: https://www.econbiz.de/10013222938

Monetary Policy and Short-Term Interest Rates : An Efficient Markets-Rational Expectations Approach

Mishkin, Frederic S. - 2021

The impact of a money stock increase on nominal short-term interest rates has been a hotly debated issue in the monetary economics literature. The most commonly held view -- also a feature of most structural macro models--has an increase in the money stock leading, at least in the short-run, to...

Persistent link: https://www.econbiz.de/10013226572

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