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Deregulation, Savings and Loan Diversification, and the Flow of Housing Finance
Kane, Edward J. - 1981
This paper assesses the probable impact on S&Ls' profitability and participation in mortgage markets of The Depository Institutions Deregulation and Monetary Control Act of 1980. It tracks inflation-induced secular declines in the value of S&L mortgage holdings between 1965 and 1979 and...
Persistent link: https://www.econbiz.de/10012478481
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Housing Finance Imperfections and Private Saving : A Comparative Simulation Analysis of the U.S. and Japan
Hayashi, Fumio - 1987
This paper presents a life-cycle simulation analysis of the interaction among savings decisions, housing purchase decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact that the typical Japanese household purchases a house...
Persistent link: https://www.econbiz.de/10012476796
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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas - 2005
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
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Demographics and Monetary Policy Shocks
Berg, Kimberly A. - 2019
We decompose the response of aggregate consumption to monetary policy shocks into contributions by households at different stages of the life cycle. This decomposition finds that older households have a higher consumption response than younger households. Amongst older households, the...
Persistent link: https://www.econbiz.de/10012479919
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Central Bank Policy and the Concentration of Risk : Empirical Estimates
Coimbra, Nuno; Kim, Daisoon; Rey, Hélène - National Bureau of Economic Research - 2021
Before the 2008 crisis, the cross-sectional skewness of banks' leverage went up and macro risk concentrated in the balance sheets of large banks. Using a model of profit-maximizing banks with heterogeneous Value-at-Risk constraints, we extract the distribution of banks' risk-taking parameters...
Persistent link: https://www.econbiz.de/10012585391
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Why did the Bank of Canada Emerge in 1935?
Bordo, Michael D. - 1986
Three possible explanations for the emergence of the Canadian central bank in 1935 are examined: that it reflected the …
Persistent link: https://www.econbiz.de/10012476991
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A Framework for Monetary and Banking Analysis
Fischer, Stanley - 1982
The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their...
Persistent link: https://www.econbiz.de/10012478171
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The Transmission of Shocks in Endogenous Financial Networks : A Structural Approach
Heipertz, Jonas - 2019
The paper uses bank- and instrument-level data on asset holdings and liabilities to identify and estimate a general … equilibrium model of trade in financial instruments. Bilateral ties are formed as each bank selects the size and the … lead to less amplification of partial equilibrium shocks, (ii) the influence of a bank's equity is independent of the size …
Persistent link: https://www.econbiz.de/10012479997
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Beyond the Balance Sheet Model of Banking : Implications for Bank Regulation and Monetary Policy
Buchak, Greg - 2018
Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of … document the limits of the shadow bank substitution margin: shadow banks substitute for traditional--deposit-taking--banks in … quantitative consequences of several policies on lending volume and pricing, bank stability, and the distribution of consumer …
Persistent link: https://www.econbiz.de/10012480801
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U.S. Banks and Global Liquidity
Correa, Ricardo - 2020
-of-second-to-last-resort". Using daily supervisory bank balance sheet information, we find that U.S. GSIBs modestly increase their dollar liquidity … broker-dealer subsidiaries within the same bank holding company are crucial to this type of "reserve-draining" intermediation …
Persistent link: https://www.econbiz.de/10012481346