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Why don’t lenders renegotiate more home mortgages? The effect of securitization

Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - 2010

Securitization does not explain the reluctance among lenders to renegotiate home mortgages. We focus on seriously delinquent borrowers from 2005 through the third quarter of 2008 and show that servicers renegotiate similarly small fractions of securitized and portfolio loans. The results are...

Persistent link: https://www.econbiz.de/10010292339

Money market uncertainty and retail interest rate fluctuations: A cross-country comparison

Raunig, Burkhard; Scharler, Johann - 2007

This paper analyzes empirically the relationship between money market uncertainty and unexpected deviations in retail interest rates in a sample of 10 OECD countries. We find that, with the exception of the US, money market uncertainty has only a modest impact on the conditional volatility of...

Persistent link: https://www.econbiz.de/10010294575

Bank-Lending Standards, the Cost Channel and Inflation Dynamics

Kaufmann, Sylvia; Scharler, Johann - 2009

If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation dynamics, which appears to be the case empirically. However, interest rates may only partly mirror the cost of working capital. In this paper we explore the role of bank...

Persistent link: https://www.econbiz.de/10010294872

Bank Ownership and Lending Behavior

Micco, Alejandro; Panizza, Ugo - 2004

lending behavior over the business cycle. The paper finds that state-owned banks may play a useful credit-smoothing role … whether this differential behavior is due to an explicit objective of stabilizing credit or to the presence of lazy public …

Persistent link: https://www.econbiz.de/10010327091

Do State-Owned Banks Promote Growth? Cross-Country Evidence for Manufacturing Industries

Galindo, Arturo; Micco, Alejandro - 2003

manufacturing sectors in need of credit. We find that state- owned banks do not play a significant role in the development of …

Persistent link: https://www.econbiz.de/10010327162

A theory of banks, bonds, and the distribution of firm size

Russ, Katheryn N.; Valderrama, Diego - 2009

We draw on stylized facts from the finance literature to build a model where altering the relative costs of bank and bond financing changes the entire distribution of firm size, with implications for the aggregate capital stock, output, and welfare.

Persistent link: https://www.econbiz.de/10010282113

The decline of traditional banking and endogenous money

Erturk, Korkut; Ozgur, Gokcer - 2008

Persistent link: https://www.econbiz.de/10010288104

Neue Wege für das inländische Kreditgeschäft - Rating-Agentur und Workout-Gesellschaft für KMUs in der Schweiz

Lautenschlager, Peter; Mettler, Alfred; Volkart, Rudolf - Institut für Schweizerisches Bankwesen <Zürich>

Die Kreditlandschaft der Schweiz befindet sich in einem strukturellen Umbruch. Die Einführung risikogerechter Kreditkonditionen, teure Kreditprozesse, sowie ein hoher Anteil von Problempositionen fordern die Banken heraus...

Persistent link: https://www.econbiz.de/10005857035

Wie beeinflusst Basel II die Kreditkonditionen von öffentlich-rechtlichen Körperschaften? Empirische Befunde aus der Schweiz

Rieger, Marc Oliver; Vetterli, Pascal; Berger, Stephan - 2008

situation of the towns and cities and used this to compute a credit ranking for each town and city. We show that Basel II … banks also the impact of the credit ranking increased after Basel II. We also find significant effects of the type of the …

Persistent link: https://www.econbiz.de/10010315385

"By a silken thread": Regional banking integration and pathways to financial development in Japan's Great Recession

Hoffmann, Mathias; Okubo, Toshihiro - 2012

: financing frictions for credit-dependent firms were more severe in less integrated prefectures, which saw larger decreases in … century, silk reeling emerged as the main export industry. The silk reeling industry depended heavily on credit for working … of silk filatures in 1895 as an instrument, we confirm that the post-1990 decline was worse in prefectures where credit …

Persistent link: https://www.econbiz.de/10010316944