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We compute optimally diversified international asset portfolios for banks located in France, Germany, Italy, the U.K., and the U.S., using the mean-variance portfolio model with currency hedging. We compare these benchmark portfolios to the actual cross-border asset positions of banks from...
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Information costs and regulatory barriers are the main distinguishing features of international financial markets as compared to national financial markets. This paper presents a simple model of the impact of these factors on banks' cross-border activities and provides empirical evidence. Our...
Persistent link: https://www.econbiz.de/10011473701
bank lending. We are using a dataset on assets and liabilities of commercial banks from five countries (France, Germany …
Persistent link: https://www.econbiz.de/10011474062
The process of European integration has gained considerable momentum during the past couple of years. This paper provides an assessment of the degree of integration of both the accession states of central and eastern Europe and of the pre-ins for monetary union with respect to Germany. Using...
Persistent link: https://www.econbiz.de/10011474986
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, especially for U.S. policies, and bank-specific heterogeneity influences the magnitudes of transmission. The effects are … supportive of the international bank lending channel and the portfolio channel of monetary policy transmission. They also show … source of heterogeneity. The forms of bank balance sheet heterogeneity that differentiate spillovers across banks are not …
Persistent link: https://www.econbiz.de/10011824865
.S. policies, and bank-specific heterogeneity influences the magnitudes of transmission. The effects are supportive of the … international bank lending channel and the portfolio channel of monetary policy transmission. They also show that the frictions that …. The forms of bank balance sheet heterogeneity that differentiate spillovers across banks are not uniform across countries …
Persistent link: https://www.econbiz.de/10011877813