Showing 1 - 10 of 340
The last global crisis brought the monetary policy risk-taking channel to the fore, arguing that lingering low interest rates might affect not only the quantity, but the quality of credit extended as well. In line with this debate, this paper is the first effort to empirically investigate the...
Persistent link: https://www.econbiz.de/10011944421
How does monetary policy impact upon macroprudential regulation? This paper models monetary policy's transmission to bank risk taking, and its interaction with a regulator's optimization problem. The regulator uses its macroprudential tool, a leverage ratio, to maintain financial stability,...
Persistent link: https://www.econbiz.de/10011797689
Monetary policy moves the yield curve. How much is due to expected interest rates vs. term premia? And does it matter for macroeconomic outcomes? Using an affine term structure model, we shed new light on these questions. Estimation is subject to restrictions addressing an estimation bias in...
Persistent link: https://www.econbiz.de/10012316011
The secular increase in globalization led to a substantial increase in the interconnectedness of global financial markets. This has important implications for the conduct of monetary policy, as central bank policies may diverge across countries, potentially affecting key transmission channels of...
Persistent link: https://www.econbiz.de/10014445207
Johansen cointegration technique which is appropriate for empirical testing based on time series. The empirical results suggest …
Persistent link: https://www.econbiz.de/10011852881
This paper identifies the natural interest rate for the Macedonian economy using quarterly data for 2001Q4-2019Q3. To this end, the estimation is made by using different types of models, such as the Holston, Laubach, and Williams model and the full-fledged country-specific structural MAKPAM...
Persistent link: https://www.econbiz.de/10014324792
This paper explores the impact of international financial integration on credit markets in Latin America, using a cross-country dataset covering 17 countries between 1996 and 2008. It is found that financial integration amplifies the impact of international financial shocks on aggregate credit...
Persistent link: https://www.econbiz.de/10010247923
Using panel co-integration techniques and a comprehensive dataset covering the period 1980-2013, this paper finds a …
Persistent link: https://www.econbiz.de/10011339421
Persistent link: https://www.econbiz.de/10009535639
This paper evaluates whether fiscal and foreign exchange policy shocks can explain both credit and credit supply in Venezuela. Empirical evidence suggests that between 65 and 90 percent of credit growth is linked to the buildup of banks' deposits caused by the monetary effects of fiscal...
Persistent link: https://www.econbiz.de/10011660860