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Are there asymmetries in the response of bank interest rates monetary shocks?
Gambacorta, Leonardo; Iannotti, Simonetta - Banca d'Italia - 2005
Law on Banking; 2) interest rate adjustment, in response to positive and negative shocks, are asymmetric in the short run …
Persistent link: https://www.econbiz.de/10005113657
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The Supply Side of Household Finance
Foà, Gabriele - 2015
We propose a new, data-based test for the presence of biased financial advice when households choose between fixed and adjustable rate mortgages. If households are wary, the relative cost of the two types should be a sufficient statistic for a household contract choice: the attributes of the...
Persistent link: https://www.econbiz.de/10013010881
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The Supply Side of Household Finance
Foà, Gabriele - 2016
We propose a new, data-based test for the presence of biased financial advice when households choose between fixed and adjustable rate mortgages. If households are wary, the relative cost of the two types should be a sufficient statistic for a household contract choice: the attributes of the...
Persistent link: https://www.econbiz.de/10012995713
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Dollar Borrowing, Firm-Characteristics, and FX-Hedged Funding Opportunities
Gambacorta, Leonardo - 2020
We explore the link between firms' dollar bond borrowing and their FX-hedged funding opportunities, as reflected in a positive corporate basis (the relative cost of local to synthetic currency borrowing). Consistent with previous research, we first document that firms substitute domestic for...
Persistent link: https://www.econbiz.de/10012840120
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Dollar Borrowing, Firm-Characteristics, and FX-Hedged Funding Opportunities
Gambacorta, Leonardo - 2020
We explore the link between firms' dollar bond borrowing and their FX-hedged funding opportunities, as reflected in a positive corporate basis (the relative cost of local to synthetic currency borrowing). Consistent with previous research, we first document that firms substitute domestic for...
Persistent link: https://www.econbiz.de/10012840281
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Bank Intermediation Activity in a Low Interest Rate Environment
Brei, Michael - 2019
This paper investigates how the prolonged period of low interest rates affects bank intermediation activity. We use data for 113 large international banks headquartered in 14 major advanced economies during the period 1994-2015. We find that low interest rates induce banks to shift their...
Persistent link: https://www.econbiz.de/10012863477
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The Influence of Monetary Policy on Bank Profitability
Borio, Claudio E. V. - 2015
This paper investigates how monetary policy affects bank profitability. We use data for 109 large international banks headquartered in 14 major advanced economies for the period 1995-2012. Overall, we find a positive relationship between the level of short-term rates and the slope of the yield...
Persistent link: https://www.econbiz.de/10013014487
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BASEL III: long-term impact on economic performance and fluctuations
Angelini, Paolo; Clerc, Laurent; Cúrdia, Vasco; … - 2011
level of steadystate output, relative to the baseline. The impact of the new liquidity regulation is of a similar order of … severity of financial crisis, analyzed in Basel Committee on Banking Supervision (2010b). 2) The reform should dampen output … consistent with those of reports by the Long-term Economic Impact Group (Basel Committee on Banking Supervision 2010b) and the …
Persistent link: https://www.econbiz.de/10008935715
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Understanding global liquidity
Eickmeier, Sandra; Gambacorta, Leonardo; Hofmann, Boris - 2013
We explore the concept of global liquidity based on a factor model estimated using a large set of financial and … macroeconomic variables from 24 advanced and emerging market economies. We measure global liquidity conditions based on the common … global factors in the dynamics of liquidity indicators. By imposing theoretically motivated sign restrictions on factor …
Persistent link: https://www.econbiz.de/10009720899
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Understanding Global Liquidity
Eickmeier, Sandra - 2016
We explore the concept of global liquidity based on a factor model estimated using a large set of financial and … macroeconomic variables from 24 advanced and emerging market economies. We measure global liquidity conditions based on the common … global factors in the dynamics of liquidity indicators. By imposing theoretically motivated sign restrictions on factor …
Persistent link: https://www.econbiz.de/10012988796