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Contagion effects of the Silicon Valley Bank run

Choi, Dong Beom; Goldsmith-Pinkham, Paul; Yorulmazer, Tanju - 2023

This paper analyzes the contagion effects associated with the failure of Silicon Valley Bank (SVB) and identifies bank-specific vulnerabilities contributing to the subsequent declines in banks' stock returns. We find that uninsured deposits, unrealized losses in held-to-maturity securities, bank...

Persistent link: https://www.econbiz.de/10014540982

Financial stability considerations for monetary policy: Theoretical mechanisms

Ajello, Andrea; Boyarchenko, Nina; Gourio, François; … - 2022

This paper reviews the theoretical literature at the intersection of macroeconomics and finance to draw lessons on the connection between vulnerabilities in the financial system and the macroeconomy, and on how monetary policy affects that connection. This literature finds that financial...

Persistent link: https://www.econbiz.de/10012888656

Twenty years of the German euro are more than enough

Bibow, Jörg - 2018

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...

Persistent link: https://www.econbiz.de/10012142958

Financialization in emerging Europe

Kazandziska, Milka - 2022

This paper contributes to the financialization literature exploring the dynamics of financialization in eight emerging … accumulation of foreign liabilities. Foreign financial flows in Russia were not as significant for the process of financialization …, but rather the state itself. In this paper we identify two types of financialization: 'foreign-finance-led' and 'state …

Persistent link: https://www.econbiz.de/10013261389

Federal reserve policies and financial market conditions during the crisis

Brave, Scott A.; Genay, Hesna - 2011

During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of these policies on broad financial market conditions,...

Persistent link: https://www.econbiz.de/10010292196

The Federal Reserve in times of economic crisis: Paths and choices since 2007

Rüdiger, Sina - 2013

This paper studies the actions of the U.S. Federal Reserve Bank during the financial crisis from 2007-2012. Whereas the first two parts concentrate on asset bubble theory and the development of the housing bubble, the third part rates the performance of the Federal Reserve during the crisis. The...

Persistent link: https://www.econbiz.de/10010322812

Minsky, monetary policy, and mint street: Challenges for the art of monetary policymaking in emerging economies

Yanamandra, Srinivas - 2014

This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...

Persistent link: https://www.econbiz.de/10010513058

Financial Imbalances, Crisis Probability and Monetary Policy in Norway

Alstadheim, Ragna; Robstad, Ørjan; Vonen, Nikka Husom - 2017

We assess the strength of the impact of a monetary policy shock on financial crisis probability in Norway. Policy effects go via the interest rate impact on credit, house prices and banks' wholesale funding. We find that the impact of a monetary policy shock on crisis probability is about 10...

Persistent link: https://www.econbiz.de/10012143920

An historical perspective on financial stability and monetary policy regimes: A case for caution in central banks current obsession with financial stability

Bordo, Michael D. - 2018

The global financial crisis (GFC) of 2007-2008 led to a call for central banks to elevate their financial stability mandate to the same level as their price stability mandate. It also led to a call for central banks to use their monetary policy tools as well as the tools of macro prudential...

Persistent link: https://www.econbiz.de/10012143929

Downward nominal house price rigidity: Evidence from three centuries of data on housing transactions

Erlandsen, Solveig K.; Juelsrud, Ragnar Enger - 2023

By analyzing housing data from the period 1850 to 2019 in Norway, we find evidence of downward nominal house price rigidity. More specifically, we document that there is a marked fraction of repeat-sales housing transactions with a zero nominal price change and show that this fraction increases...

Persistent link: https://www.econbiz.de/10014551651

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