Narrow search
Showing 1 - 10 of 300
Cover Image
The financial accelerator mechanism : does frequency matter?
Foroni, Claudia; Gelain, Paolo; Marcellino, Massimiliano - 2022
with the financial accelerator mechanism a la Bernanke et al. (1999). We find that the financial accelerator can work very …
Persistent link: https://www.econbiz.de/10012815038
Cover Image
Macro and micro of external finance premium and monetary policy transmission
Altavilla, Carlo; Gürkaynak, Refet S.; Quaedvlieg, Rogier - 2024
We establish basic facts about the external finance premium. Tens of millions of individual loan contracts extended to euro area firms allow studying the determinants of the external finance premium at the country, bank, firm, and contract levels of disaggregation. At the country level, the...
Persistent link: https://www.econbiz.de/10014527119
Cover Image
A model of system-wide stress simulation : market-based finance and the Covid-19 event
Di Iasio, Giovanni; Alogoskoufis, Spyridon; Kördel, Simon - 2022
We build a model to simulate how the euro area market-based financial system may function under stress. The core of the model is a set of representative agents re ecting key economic sectors, which interact in asset, funding, and derivatives markets and face solvency and liquidity constraints on...
Persistent link: https://www.econbiz.de/10013265940
Cover Image
The globalization of climate change : amplification of climate-related physical risks through input-output linkages
Fahr, Stephan; Senner, Richard; Vismara, Andrea - 2024
While global supply chains have recently gained attention in the context of the Covid-related crisis as well as the war in Ukraine, their role in transmitting and amplifying climate-related physical risks across countries has received surprisingly little attention. To address this shortcoming,...
Persistent link: https://www.econbiz.de/10014558794
Cover Image
The great lockdown : pandemic response policies and bank lending conditions
Altavilla, Carlo; Barbiero, Francesca; Boucinha, Miguel; … - 2020
of new coronavirus (COVID-19) pandemic. We focus on monetary, microprudential and macroprudential policies designed …
Persistent link: https://www.econbiz.de/10012271571
Cover Image
Simulating fire sales in a system of banks and asset managers
Calimani, Susanna; Hałaj, Grzegorz; Żochowski, Dawid - 2020
We develop an agent-based model of traditional banks and asset managers to investigate the contagion risk related to fire sales and balance sheet interactions. We take a structural approach to the price formation in fire sales as in Bluhm et al. (2014) and introduce a market clearing mechanism...
Persistent link: https://www.econbiz.de/10012163949
Cover Image
The external finance premium in the euro area : a useful indicator for monetary policy?
Gelain, Paolo - 2010
-called financial accelerator mechanism developed in Bernanke, Gertler and Gilchrist (1999). The main aim is to obtain a time series for … Area data than the model without them, the former is not satisfactory in many other respects. For instance, the accelerator … ; Euro Area External Finance Premium ; Financial Accelerator ; Bayesian Estimation ; Inflation …
Persistent link: https://www.econbiz.de/10003972629
Cover Image
Business fixed investment : evidence of a financial accelerator in Europe
Vermeulen, Philip - 2000
Persistent link: https://www.econbiz.de/10001554432
Cover Image
Risk sharing and monetary policy transmission
Hauptmeier, Sebastian; Holm-Hadulla, Fédéric; … - 2022
Using regionally disaggregated data on economic activity, we show that risk sharing plays a key role in shaping the real effects of monetary policy. With weak risk sharing, monetary policy shocks trigger a strong and durable response in output. With strong risk sharing, the response is...
Persistent link: https://www.econbiz.de/10013448692
Cover Image
Assessing interbank contagion using simulated networks
Hałaj, Grzegorz; Kok Sørensen, Christoffer - 2013
Persistent link: https://www.econbiz.de/10009765565