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Optimal Monetary Policy with Counter-Cyclical Credit Spreads

Airaudo, Marco; Olivero, Maria Pia - LeBow College of Business, Drexel University - 2014

-market features in banking gives rise to counter-cyclical credit spreads. In our setting, monopolistically competitive banks set … phase of economic expansion, banks might find it optimal to lower current lending rates to build up a larger customer base …

Persistent link: https://www.econbiz.de/10010992338

Financial stability requires macroeconomic foundations of macroeconomics

Rossi, Sergio - In: The Journal of Philosophical Economics 3 (2010) 2, pp. 58-73

Financial stability features prominently among the goals of several postcrisis macroeconomic policies around the world. Being a systemic characteristic, financial stability requires a systemic analysis, which only macroeconomics can offer logically. Yet, the current way of doing macroeconomics...

Persistent link: https://www.econbiz.de/10010885971

How to end to the debt crisis in one month

Punabantu, Siize - Volkswirtschaftliche Fakultät, … - 2011

The modern economic theory implemented today is inherently flawed. Unfortunately these flaws are not apparent in contemporary economic theory which is built on the idea that scarcity is an ever present condition; an approach referred to as scarce resource theory (SRT) in operating level...

Persistent link: https://www.econbiz.de/10009203644

Ending the slowdown and struggle speculation and globalization, reasons of the crisis

Tremonti, Giulio - In: BANCARIA 07 (2008) July, pp. 3-9

infrastructure. On the basis or their history, culture and ethics, Italian banks could help to achieve these purposes and could be a …

Persistent link: https://www.econbiz.de/10005089680

The financial crisis and Economists' forecasting

Visco, Ignazio - In: BANCARIA 3 (2009) March, pp. 3-22

It is too early to evaluate the effects of political economy measures and to analyze deeply time and ways that characterize the current global crisis. Effect of the political economy actions are not immediate and could be evaluated only looking at expected conditions and perspectives. In fact...

Persistent link: https://www.econbiz.de/10005089681

Market Myths in Contemporary Economics

Punabantu, Siize - Volkswirtschaftliche Fakultät, … - 2010

This paper elaborates on the economic operating system (EOS) the role it can play in growth. It focuses on markets, price determination and forces of demand and supply in order to illustrate how an EOS model offers greater economic growth, stability and safety. This paper delves into market...

Persistent link: https://www.econbiz.de/10008685520

The financial cycle and macroeconomics: What have we learnt?

Borio, Claudio - In: Journal of Banking & Finance 45 (2014) C, pp. 182-198

It is high time we rediscovered the role of the financial cycle in macroeconomics. In the environment that has prevailed for at least three decades now, it is not possible to understand business fluctuations and the corresponding analytical and policy challenges without understanding the...

Persistent link: https://www.econbiz.de/10010943190

Crisis and Reform: Managing Systemic Risk

Caballero, Ricardo J. - In: Rivista di Politica Economica 99 (2009) 4, pp. 9-64

«Everything which involves turbulence is enormously more complicated, not just a little bit more complicated, not just one year more schooling, just enormously more complicated». (Mandelbrot interview with PBS News Hour, October 21th, 2008 by SOLMAN P.)

Persistent link: https://www.econbiz.de/10010575254

Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel.

Repullo, R.; Suarez, J. - Centro de Estudios Monetarios y Financieros (CEMFI) - 1996

This paper considers a model of firms' financing based on the existence of a moral hazard problem in the choice of investment projects by a heterogeneous population of entrepreneurs. Two alternative ways of funding these projects, called unmonitored (or market) and monitored (or bank) lending,...

Persistent link: https://www.econbiz.de/10005625747

"The Repeal of the Glass-Steagall Act and the Federal Reserve's Extraordinary Intervention during the Global Financial Crisis"

Nersisyan, Yeva - Levy Economics Institute - 2015

to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers … banks to nonbank financial institutions. In a specialized financial system, which the GSA had helped create, the use of the … lender-of-last-resort safety net could be more comfortably limited to commercial banks. However, the elimination of GSA …

Persistent link: https://www.econbiz.de/10011124865

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