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Loan-to-value policy as a macroprudential tool : the case of residential mortgage loans in Asia
Morgan, Peter J.; Regis, Paulo José; Salike, Nimesh - 2015
moderating mortgage loan creation, and its effectiveness needs to be estimated empirically. This paper is unique in that it … analyzes the effect of LTV on mortgage lending, the direct channel of influence, using a large sample of banks in 10 Asian … show that economies with LTV polices have expanded residential mortgage loans by 6.7% per year, while non-LTV economies …
Persistent link: https://www.econbiz.de/10010526757
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The housing market and housing policies in Japan
Kobayashi, Masahiro - 2016
Housing policies in Japan after World War II were focused on the quantitative supply of houses with a wide range of targeted groups and public rental houses. The Japan Housing Corporation (now the Urban Renaissance Agency) and the Government Housing Loan Corporation (now the Japan Housing...
Persistent link: https://www.econbiz.de/10011441128
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Mortgage lending and financial stability in Asia
Morgan, Peter J.; Zhang, Yan - 2015
We estimated the effect of the share of mortgage lending by individual banks (together with some control variables) on … emerging Asian economies for 2007–2013 from the Bankscope database. We find some evidence that an increased share of mortgage … reducing the nonperforming loan ratio, at least in noncrisis periods, for levels of mortgage shares up to 30%–40%. For higher …
Persistent link: https://www.econbiz.de/10011350157
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Fossil fuel subsidies and GHG emissions : firm-level empirical evidence from developing Asia
Azhgaliyeva, Dina; Le, Hai - 2023
comprising 3,359 firms across seven countries in developing Asia, namely, the People's Republic of China (PRC), India, Indonesia … non-energy emissions. While fossil fuel subsidies have a positive impact on firms' GHG emissions in Southeast Asia, no … significant effect is documented for the PRC or South Asia. …
Persistent link: https://www.econbiz.de/10014450065
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Payment system innovations and financial intermediation : the case of Indonesia
Lubis, Alexander; Alexiou, Constantinos; Nellis, Joseph G. - 2019
This paper explores the relationship between innovations in payment systems and financial intermediation. By focusing on excess reserves and the currency demand, we provide evidence on the extant transmission mechanism. In this direction, we applied the generalized method of moments (GMM) and...
Persistent link: https://www.econbiz.de/10012037819
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Designing central bank digital currencies
Agur, Itai; Ari, Anil; Dell'Ariccia, Giovanni - 2019
We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC, and bank deposits according to their preferences over anonymity and security; and where network effects make the convenience of a payment instrument depend on the number of...
Persistent link: https://www.econbiz.de/10012137068
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Digital transformation : some implications for financial and macroeconomic stability
Genberg, Hans - 2020
Digital transformation is changing how and by whom financial services are provided, how payments are made within an economy and across borders, and how and where goods and services are produced in a globalized economy. These transformations bring significant benefits in the form of greater...
Persistent link: https://www.econbiz.de/10012219810
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Understanding the pattern of growth and equity in the People's Republic of China
Liu, Minquan - 2011
There are likely to be many factors which have together shaped the current pattern of growth and equity in the People's Republic of China (PRC). Among them are the foundations laid in the pre-1978 era, especially in respect of land-related institutional reforms and social sector investments....
Persistent link: https://www.econbiz.de/10009383061
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Universalizing complete access to finance : key conceptual issues
Rai, Suyash; Ananth, Bindu; Mor, Nachiket - 2010
In this paper, we present two stylized models of the financial system. We make the case that in order to realize the potential of a well-functioning complete financial market, financial system designers and financial service providers will need to think about ways to deliver financial...
Persistent link: https://www.econbiz.de/10008907307
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Loss aversion and residential property development decisions in the People's Republic of China : a semi-parametric estimation
Bao, Helen X. H.; Meng, Charlotte Chunming - 2017
Loss aversion is a core concept in prospect theory that refers to people's asymmetric attitudes with respect to gains and losses. More specifically, losses loom larger than gains. With the capability of loss aversion to explain economic phenomena, some of which are puzzling under expected...
Persistent link: https://www.econbiz.de/10011591060