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Uncertain booms and fragility
2018
I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: "normal times", periods of modest investment, and "booms", periods of expansionary investment. Normal times occur when the...
Persistent link: https://www.econbiz.de/10011880642
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Money, credit, monetary policy, and the business cycle in the euro area : what has changed since the crisis?
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10012000041
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New Perspectives on the Bank-Firm Relationship : Lending, Management and the Impact of Basel III
Ferretti, Paola - 2016
: the internal rating systems -- Chapter 3) Credit guarantees: the role in bank lending -- Chapter 4) Banks, firms and …’s dynamics. Chapters discuss the role of bank lending in firms’ financing during the recent financial crisis, as well as issues … in credit risk management. The discussion also examines regulatory requirements impacting banks and firms (Basel III) and …
Persistent link: https://www.econbiz.de/10012397257
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Intermediary leverage cycles and financial stability
Adrian, Tobias; Boyarchenko, Nina - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to amplification of fundamental shocks that affect real economic...
Persistent link: https://www.econbiz.de/10009580891
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The Influence of Uncertainty in a Changing Financial Environment : An Inquiry into the Root Causes of the Great Recession of 2007-2008
Halperin, Ricardo A. - 2017
This book examines the role of uncertainty on financial decisions - and, consequently, on financial markets - in the buildup to and aftermath of the Great Recession. It tracks the significant growth and important structural changes in the financial sector during the past few decades, both of...
Persistent link: https://www.econbiz.de/10012397414
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Financial Institutions in the Global Financial Crisis : The Role of Financial Derivatives, Bank Capital, and Clearing and Custody Services
Li, Shaofang - 2018
types of bank capital affect bank lending and whether this relation changes in times of the global financial crisis. Chapter …Chapter 1 Introduction -- Chapter 2 The use of financial derivatives and risks of U.S. bank holding companies … -- Chapter 3 Quality of bank capital and bank lending behavior during the global financial crisis -- Chapter 4 Competition in the …
Persistent link: https://www.econbiz.de/10012398291
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The Brazilian Economy since the Great Financial Crisis of 2007/2008
Prates, Daniela Magalhaes (ed.);  … - 2017
This book examines the performance of the Brazilian economy since the Great Financial Crisis of 2007/2008 with focus on both the productive and financial dimensions, along with distributional and social issues. The book will bring to light the causes of the fast recovery over 2009-2010 as well...
Persistent link: https://www.econbiz.de/10012397733
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A primer on the GCF Repo Service
Agueci, Paul (contributor); Alkan, Leyla (contributor);  … - 2014 - Revised May 2014
This primer provides a detailed description of the GCF Repo ® Service, a financial service provided by the Fixed Income Clearing Corporation. The primer is composed of an introductory note and two separate papers. The first paper focuses on the clearance and settlement of GCF Repo. These...
Persistent link: https://www.econbiz.de/10010404162
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The shadow banking system : implications for financial regulation
Adrian, Tobias; Shin, Hyun Song - 2009
fragility of the entire financial system by allowing banks and other intermediaries to “leverage up” by buying one another …
Persistent link: https://www.econbiz.de/10003864595
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Money market funds intermediation, bank instability, and contagion
Cipriani, Marco; Martin, Antoine; Parigi, Bruno - 2013
In recent years, U.S. banks have increasingly relied on deposits from financial intermediaries, especially money market … funds (MMFs), which collect funds from large institutional investors and lend them to banks. In this paper, we show that … intermediation through MMFs allows investors to limit their exposure to a given bank (i.e., reap gains from diversifi cation …
Persistent link: https://www.econbiz.de/10009709312