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’s interventions during different stages of the crisis in terms of this literature. We interpret the Fed’s early-stage liquidity … periods of high liquidity risk. In contrast, reductions in the Fed’s liquidity supply in 2009 did not increase the spread. Our … analysis has implications for the impact on asset prices of a potential withdrawal of liquidity supply by the Fed. -- Financial …
Persistent link: https://www.econbiz.de/10003948801
International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...
Persistent link: https://www.econbiz.de/10010201279
Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...
Persistent link: https://www.econbiz.de/10011446535
, liquidity management, and synergy improvements that reduce risk. The outcomes of such trade-offs may depend on bank governance … geographic scope tend to provide diversification gains and reduce idiosyncratic and liquidity risks while also increasing BHCs … this type of complexity, leading to a decrease in systemic risk and an increase in liquidity risk among BHCs. While bank …
Persistent link: https://www.econbiz.de/10012234342
This study examines the determinants of CEO compensation using data from a nationally representative sample of privately held U.S. corporations. We find that (i) the pay-size elasticity is much larger for privately held firms than for the publicly traded firms on which previous research has...
Persistent link: https://www.econbiz.de/10003781452
from changes in domestic liquidity conditions. The existence of these internal capital markets directly contributes to an … international propagation of domestic liquidity shocks to lending by affiliated banks abroad. While these results imply a … likewise increases in strength. -- Lending channel ; bank ; global ; liquidity ; transmission ; internal capital markets …
Persistent link: https://www.econbiz.de/10003781564
We study a contracting model of leverage and balance sheet size for financial intermediaries that fund their activities through collateralized borrowing. Leverage and balance sheet size increase together when measured risks decrease. When the loss distribution is exponential, the behavior of...
Persistent link: https://www.econbiz.de/10003781655
. Global banks can provide liquidity and risk-sharing opportunities to the host market in the event of adverse host … headquarters and its offices in foreign locations). Adverse liquidity shocks to developed-country banking, such as those that … ; global ; liquidity ; transmission ; capital markets ; cross-border lending …
Persistent link: https://www.econbiz.de/10003864584
This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of...
Persistent link: https://www.econbiz.de/10003947529
banks. These central banks had the capacity to use these swap facilities to provide dollar liquidity to institutions in … important part of the toolbox for dealing with systemic liquidity disruptions. -- Banks ; foreign exchange ; swap ; reciprocal … currency arrangement ; liquidity ; dollar …
Persistent link: https://www.econbiz.de/10003948799