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disentangle loan supply from loan demand shift in the bank lending channel' literature. The results, derived from a sample of … in the pass-through on the interest rate on current accounts depends mainly on banks' liability structure. Bank's size is …
Persistent link: https://www.econbiz.de/10013246682
activities for a sample of banks in 38 countries over the 1998-2008 period. International double taxation of foreign-source bank …, and that the incidence of international double taxation of banks is on bank customers in the foreign subsidiary country …
Persistent link: https://www.econbiz.de/10013098239
, much of bank output has to be estimated indirectly. In contrast to current statistical practice, dynamic optimizing models … of banks argue that compensation for bearing systematic risk is not part of bank output. We apply these models and find … that between 1997 and 2007, in the U.S. National Accounts, on average, bank output is overestimated by 21 percent and GDP …
Persistent link: https://www.econbiz.de/10013224418
foreigners. We use a bank-level panel data set spanning all British and foreign banks providing loans within the United Kingdom …," domestic (British) loans of a bank expressed as a fraction of its total loan activity. We also study effective short …
Persistent link: https://www.econbiz.de/10013124846
. Expected real interest rates and output are exogenous with respect to monetary variables, and the central bank ends up …
Persistent link: https://www.econbiz.de/10013139987
We evaluate the effect of the Federal Reserve's purchase of long-term Treasuries and other long-term bonds ("QE1" in 2008-2009 and "QE2" in 2010-2011) on interest rates. Using an event-study methodology we reach two main conclusions. First, it is inappropriate to focus only on Treasury rates as...
Persistent link: https://www.econbiz.de/10013118848
This paper is an empirical investigation of the predictability andcomovement of risk premia in the term structure of Euromarket interestrates. We show that variables which have been used as proxies for riskpremia on uncovered foreign asset positions also predict excess returns inEuroniarket term...
Persistent link: https://www.econbiz.de/10012773589
We assume that the instantaneous riskless rate reverts towards a central tendency which in turn, is changing stochastically over time. As a result, current short-term rates are notquot; sufficient to predict future short-term rates movements, as would be the case if the centralquot; tendency was...
Persistent link: https://www.econbiz.de/10012774919
This paper is a first attempt at evaluating the determinants of the total interest rate differentials on government bonds between high yielders, namely Italy, Spain, Sweden and Germany. In particular we address the question of the relative importance of local and global factors in the...
Persistent link: https://www.econbiz.de/10012774986
High interest rates to defend the exchange rate signal that a government is committed to fixed exchange rates, but may also signal weak fundamentals. We test the effectiveness of the interest rate defense by disaggregating into the effects on future interest rates differentials, expectations of...
Persistent link: https://www.econbiz.de/10012778233