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The interaction between macroprudential and monetary policies: The cases of Norway and Sweden
Cao, Jin; Dinger, Valeriya; Grodecka-Messi, Anna; … - 2020
detailed bank-level data we show how Norwegian and Swedish banks' lending reacts to monetary policy surprises arising abroad …
Persistent link: https://www.econbiz.de/10012661562
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Monetary and macroprudential policy: The multiplier effects of cooperation
Bassi, Federico; Boitani, Andrea - 2021
monetary and macroprudential policy. We show that the regulatory bank's capital requirement has a multiplier effect that … face of both negative demand and bank equity shocks, if such shocks are not highly persistent. As shock persistence …
Persistent link: https://www.econbiz.de/10013364505
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The Relationship between Risk and Capital in Swiss commercial Banks: A Panel Study
Bichsel, Robert; Blum, Jürg - 2002
In this paper we investigate the relationship between changes in risk and changes in leverage for a panel of Swiss banks. Using market data for risk and both accounting and market data for capital for the period between 1990 and 2002, we find a positive correlation between changes in capital and...
Persistent link: https://www.econbiz.de/10011430035
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Lending relationships and monetary policy
Aksoy, Yunus; Basso, Henrique S.; Coto-Martinez, Javier - 2009
Financial intermediation and bank spreads are important elements in the analysis of business cycle transmission and … relationships in the banking sector can lead to indeterminacy of equilibrium forcing the central bank to react to spread movements. …
Persistent link: https://www.econbiz.de/10010321417
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Academic scholarship in light of the 2008 financial crisis: Textual analysis of NBER Working Papers
Levy, Daniel; Mayer, Tamir; Raviv, Alon - 2020
Textual analysis of the NBER Working Papers published during 1999-2016 is done to assess the effects of the 2007-2009 crisis on the academic literature. The volume of crisis-related WPs is counter-cyclical, lagging the financial-instability-index. WPs by the Monetary-Economics, Asset-Pricing,...
Persistent link: https://www.econbiz.de/10012387266
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Monetary policy spillover to small open economies: Is the transmission different under low interest rates?
Cao, Jin; Dinger, Valeriya; Gómez, Tomás; Grice, Zuzana; … - 2021
We explore the impact of low and negative monetary policy rates in core world economies on bank lending in four small … open economies - Canada, Chile, the Czech Republic and Norway - using confidential bank-level data. Our results show that …, consistent with an international bank lending channel. These results have important policy implications, suggesting that central …
Persistent link: https://www.econbiz.de/10013373823
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Nonbanks, banks, and monetary policy: U.S. loan-level evidence since the 1990s
Elliott, David; Meisenzahl, Ralf R.; Peydró, José-Luis; … - 2022
We show that nonbanks (funds, shadow banks, fintech) affect the transmission of monetary policy to output, prices and the distribution of risk via credit supply. For identification, we exploit exhaustive US loan-level data since the 1990s, borrowerlender relationships and Gertler-Karadi monetary...
Persistent link: https://www.econbiz.de/10013479450
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Regulatory solutions to bank loans procyclicality: Is the cure worse than the illness?
Balzarotti, Verónica; Anastasi, Alejandra - 2010
of regulations has received little attention. We develop an exercise of a representative bank to illustrate the dynamic …
Persistent link: https://www.econbiz.de/10010325091
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The tradeoffs in leaning against the wind
Gourio, François; Kashyap, Anil K.; Sim, Jae W. - 2017
Credit booms sometimes lead to financial crises which are accompanied with severe and persistent economic slumps. Does this imply that monetary policy should "lean against the wind" and counteract excess credit growth, even at the cost of higher output and inflation volatility? We study this...
Persistent link: https://www.econbiz.de/10012030334
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Shadow banking: Policy challenges for central banks
Moe, Thorvald Grung - 2014
Central banks responded with exceptional liquidity support during the financial crisis to prevent a systemic meltdown. They broadened their tool kit and extended liquidity support to nonbanks and key financial markets. Many want central banks to embrace this expanded role as "market maker of...
Persistent link: https://www.econbiz.de/10010513066