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ratio since the crisis reflects bottlenecks in the provision of bank credit and (2) the tightened loan supply has been more …
Persistent link: https://www.econbiz.de/10012648857
find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high …
Persistent link: https://www.econbiz.de/10012212853
We estimate the effects of quantitative easing (QE) measures by the ECB and the Federal Reserve on the US dollar-euro exchange rate at frequencies and horizons relevant for policymakers. To do so, we derive a theoretically-consistent local projection regression equation from the standard asset...
Persistent link: https://www.econbiz.de/10011928935
not find any evidence for side effects and increases in risk taking following QE, with real house prices and real credit …
Persistent link: https://www.econbiz.de/10011975395
This paper examines the interactions of macroprudential and monetary policies. We find, using a range of macroeconomic models used at the European Central Bank, that in the long run, a 1% bank capital requirement increase has a small impact on GDP. In the short run, GDP declines by 0.15-0.35%....
Persistent link: https://www.econbiz.de/10012165315
The response of major central banks to the global financial crisis has revived the debate around the interactions between monetary policy (MP) and bank stability. This technical paper sheds light, quantitatively, on the different mechanisms underlying the relationship between MP and bank...
Persistent link: https://www.econbiz.de/10012165336
To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …-sheet channels ; financial accelerator ; firm borrowing capacity ; credit supply ; business cycle ; monetary policy ; credit channel …
Persistent link: https://www.econbiz.de/10003972699
Using credit-registry data for Spain and Peru, we document that four main types of commercial credit-asset-based loans …, cash-flow loans, trade finance and leasing-are easily identifiable and represent the bulk of corporate credit. We show that … credit dynamics and bank lending channels vary across these loan types. Moreover, aggregate credit supply shocks previously …
Persistent link: https://www.econbiz.de/10012216577
Persistent link: https://www.econbiz.de/10010441176
Persistent link: https://www.econbiz.de/10010482136