Similar Search Results

Stochastic discounting and the transmission of money supply shocks

Jaccard, Ivan - 2018

recessions than during booms. This state dependence is essentially due to the time-variation in stochastic discounting that is …

Persistent link: https://www.econbiz.de/10011881163

Innovation, industry equilibrium, and discount rates

Bustamante, Maria Cecilia; Zucchi, Francesca - 2023

We develop a model to examine how discount rates affect the nature and composition of innovation within an industry. Challenging conventional wisdom, we show that higher discount rates do not discourage firm innovation when accounting for the industry equilibrium. Higher discount rates deter...

Persistent link: https://www.econbiz.de/10014362602

Monetary asymmetries without (and with) price stickiness

Jaccard, Ivan - 2024

The evidence suggests that monetary policy transmission is asymmetric over the business cycle. Interacting financing frictions with a preference for liquidity provides an explanation for this fact. Our mechanism generates monetary asymmetries in a model that jointly reproduces a set of asset...

Persistent link: https://www.econbiz.de/10014527042

On the importance of prior relationships in bank loans to retail customers

Puri, Manju; Rocholl, Jörg; Steffen, Sascha - 2011

This paper analyzes the importance of retail consumers' banking relationships for loan defaults using a unique, comprehensive dataset of over one million loans by savings banks in Germany. We find that loans of retail customers, who have a relationship with their savings bank prior to applying...

Persistent link: https://www.econbiz.de/10009380932

Retail payments and the real economy

Hasan, Iftekhar; De Renzis, Tania; Schmiedel, Heiko - 2013

Persistent link: https://www.econbiz.de/10010195497

Retail market structure and consumer prices in the euro area

Ciapanna, Emanuela; Rondinelli, Concetta - 2014

Persistent link: https://www.econbiz.de/10010441075

Competition among high-frequency traders, and market quality

Breckenfelder, Johannes - 2019

We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market …-frequency competition, and contains an exogenous event - a tick size reform - which we use to disentangle the effects of the rising share of … high-frequency trading in the market from the effects of high-frequency competition. We find that when HFTs compete, their …

Persistent link: https://www.econbiz.de/10012016546

The impact of the ECB's targeted long-term refinancing operations on banks' lending policies : the role of competition

Andreeva, Desislava Č.; García-Posada, Miguel - 2020

We assess the impact of the Eurosystem's Targeted Long-Term Refinancing Operations (TLTROs) on the lending policies of euro area banks. We first build a theoretical model in which banks compete in the credit and deposit markets. We distinguish between direct and indirect effects. Direct effects...

Persistent link: https://www.econbiz.de/10012150125

Inside asset purchase programs : the effects of unconventional policy on banking competition

Koetter, Michael; Podlich, Natalia; Wedow, Michael - 2017

We test if unconventional monetary policy instruments influence the competitive conduct of banks. Between q2:2010 and q1:2012, the ECB absorbed e218 billion worth of government securities from five EMU countries under the Securities Markets Programme (SMP). Using detailed security holdings data...

Persistent link: https://www.econbiz.de/10011637495

Bank mergers, competition and liquidity

Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete …

Persistent link: https://www.econbiz.de/10009635892

1
2
3
4
5
6
7
8
9
Next
Last