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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - National Bureau of Economic Research (NBER) - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10010951167
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - CESifo - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10010877795
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - C.E.P.R. Discussion Papers - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10011083498
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Internal Versus External Convertibility and Developing-Country Financial
Paolera, Gerardo della; Taylor, Alan M. - EconWPA - 2000
Argentina’s money and banking system was hit hard by the Great Depression. The banking sector was awash with bad assets that built up in the 1920s. Gold convertibility was suspended in December 1929, even before the crisis seriously damaged the core economies. Commonly, these events are seen...
Persistent link: https://www.econbiz.de/10005561092
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Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy
Hernandez-Verme, Paula; Wang, Wen-Yao - Volkswirtschaftliche Fakultät, … - 2009
We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...
Persistent link: https://www.econbiz.de/10005037756
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Banks As Social Accountants: Credit and Crisis Through an Accounting Lens
Bezemer, Dirk J - Volkswirtschaftliche Fakultät, … - 2009
This paper probes the role of banks and credit in our socio-economic system using the metaphor of banks as social accountants (Stiglitz and Weiss 1988). It highlights the credit nature of money, and thus the fact that money is an accounting construct. This motivates the viewing of financial...
Persistent link: https://www.econbiz.de/10005055497
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Parallel stories: FX lending to households in Poland, Romania and Hungary, 1997–2011
Hudecz, András - In: Acta Oeconomica 63 (2013) September, pp. 257-286
The analysis of household foreign currency (FX) lending begins with a short review of the theoretical and empirical … study goes on to look at the experiences in Poland, Romania and Hungary. The choice is based on the fact that all three … countries operate a flexible exchange rate regime and that household FX lending is prevalent in all of them. The analysis of …
Persistent link: https://www.econbiz.de/10010900445
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Monetary Policy and Bank Lending in China - Evidence from Loan-Level Data
He, Dong; Wang, Honglin - Hong Kong Institute for Monetary Research (HKIMR), … - 2013
We investigate how monetary policy in a mixed financial system such as that of China, which is characterized by a juxtaposition of quantity- and price-based policy instruments and the co-existence of regulated and market-determined interest rates, affects bank lending. Using a newly constructed...
Persistent link: https://www.econbiz.de/10010705945
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Challenges of bank lending in Romania on short, medium and long-term
Zaman, Gheorghe; Georgescu, George - Volkswirtschaftliche Fakultät, … - 2014
The research focuses on several challenges on short, medium and long term bank lending in Romania, taking into consideration a series of economic and social criteria as well as different types of loans. At the same time, special attention is paid to the post-accession into the EU impact and to...
Persistent link: https://www.econbiz.de/10011112906
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Bank monitoring, profit efficiency and the commercial lending business model
Akhigbe, Aigbe; McNulty, James E. - In: Journal of Economics and Business 63 (2011) 6, pp. 531-551
We build a bank-specific, fixed-effects regression model to develop proxies for a bank's monitoring effort. Our results show that banks that devote more resources to monitoring (based on these proxies) are more profit efficient and the effect is large. A very important theoretical literature in...
Persistent link: https://www.econbiz.de/10010574963