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Monetary policy transmission through shadow and traditional banks
Enkhbold, Amina - 2024 - Last updated: March 21, 2024
I investigate how monetary policy transmits to mortgage rates via the mortgage market concentration channel for both traditional and shadow banks in the United States from 2009 to 2019. On average, shadow and traditional banks exhibit only a slight disparity in transmitting monetary shocks to...
Persistent link: https://www.econbiz.de/10014512429
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Monetary policy transmission, bank market power, and wholesale funding reliance
Enkhbold, Amina - 2023 - Last updated: June 12, 2023
I study the impact of banking market concentration and wholesale funding reliance on the transmission of monetary policy shocks to mortgage rates. I empirically demonstrate that in the United States, banks with higher reliance on wholesale funding in concentrated (competitive) deposit markets...
Persistent link: https://www.econbiz.de/10014293351
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Price competition and concentration in search and negotiation markets : evidence from mortgage lending
Allen, Jason; Clark, Robert; Houde, Jean-François - 2012
This paper examines the impact of bank consolidation on mortgage rates in order to evaluate the extent to which …
Persistent link: https://www.econbiz.de/10009487798
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Funding advantage and market discipline in the Canadian banking sector
Beyhaghi, Mehdi; D'Souza, Chris; Roberts, Gordon S. - 2013
have a funding advantage over small banks after controlling for bank-specific and market risk factors. Working with hand …
Persistent link: https://www.econbiz.de/10010225470
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The efficiency of private e-money-like systems : the U.S. experience with state bank notes
Weber, Warren E. - 2014
In the United States prior to 1863 each bank issued its own distinct notes. E-money shares many of the characteristics … of these bank notes. This paper describes some lessons relevant to e-money from the U.S. experience with state bank notes …. It examines historical evidence on how well the bank notes - a privately-issued currency system with multiple issuers …
Persistent link: https://www.econbiz.de/10010346236
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The efficiency of private e-money-like systems : the U.S. experience with national bank notes
Weber, Warren E. - 2015
bank issued its own notes. E-money shares many of the characteristics of these bank notes. This paper describes some … lessons relevant to emoney from the U.S. experience with national bank notes. It examines historical evidence on how well the … bank notes - a privately-issued currency system with multiple issuers - functioned with respect to ease of transacting …
Persistent link: https://www.econbiz.de/10010469668
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Imperfect banking competition and macroeconomic volatility : a DSGE framework
Li, Jiaqi - 2021 - Last updated: March 12, 2021
operates via the dynamics of the expected marginal product of capital. Since capital is partly financed by bank loans, a higher …
Persistent link: https://www.econbiz.de/10012488049
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The welfare implications of fiscal dominance
De Resende, Carlos (contributor); Rebei, Nooman (contributor) - 2008
This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government debt must be backed by the discounted value of...
Persistent link: https://www.econbiz.de/10003772978
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Macroeconomic determinants of the term structure of corporate spreads
Yang, Jun (contributor) - 2008
We investigate the macroeconomic determinants of corporate spreads using a no-arbitrage technique. Structural shocks are identified by a New-Keynesian model. Treasury bonds are priced in an affine model with time-varying risk premia. Corporate bonds are priced in a reduced-form credit risk model...
Persistent link: https://www.econbiz.de/10003772980
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Aggregate and welfare effects of redistribution of wealth under inflation and price-level targeting
Meh, Césaire Assah (contributor);  … - 2008
Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth between households and the government, between nationals and foreigners, and between households within the same country. Two types of monetary policy,...
Persistent link: https://www.econbiz.de/10003773003