Showing 1 - 10 of 11
establishing temporary reciprocal currency swap lines, or facilities, with foreign central banks designed to ameliorate dollar … abroad and stresses in the money markets. Furthermore, the facilities have been an integral part of the central bank toolbox …
Persistent link: https://www.econbiz.de/10009146802
Federal Reserve began to establish or expand Temporary Reciprocal Currency Arrangements with fourteen other central banks …. These central banks had the capacity to use the swap facilities to provide dollar liquidity to institutions in their …, suggests that the dollar swap lines among central banks were effective at reducing the dollar funding pressures abroad and the …
Persistent link: https://www.econbiz.de/10008636158
The perceptions of a central bank's inflation aversion may reflect institutional structure or, more dynamically, the … for persistent variation in market perceptions of central bank inflation aversion. The first years of the European Central …
Persistent link: https://www.econbiz.de/10005420549
Foreign banks pulled significant funding from their U.S. branches during the Great Recession. We estimate that the average-sized branch experienced a 12 percent net internal fund “withdrawal,” with the fund transfer disproportionately bigger for larger branches. This internal shock to the...
Persistent link: https://www.econbiz.de/10011027209
International financial linkages, particularly through global bank flows, generate important questions about the consequences for economic and financial stability, including the ability of countries to conduct autonomous monetary policy. I address the monetary autonomy issue in the context of...
Persistent link: https://www.econbiz.de/10011027225
Foreign bank entrants into emerging markets are usually thought to improve the condition and performance of acquired institutions, and more generally to enhance local financial stability. We use bank-specific data for a range of Latin American countries since the mid-1990s to address elements of...
Persistent link: https://www.econbiz.de/10005526283
As banking has become more globalized, so too have the consequences of shocks originating in home and host markets. Global banks can provide liquidity and risk-sharing opportunities to the host market in the event of adverse host-country shocks, but they can also have profound effects across...
Persistent link: https://www.econbiz.de/10004973934
Global banks played a significant role in transmitting the 2007-09 financial crisis to emerging-market economies. We examine adverse liquidity shocks on main developed-country banking systems and their relationships to emerging markets across Europe, Asia, and Latin America, isolating loan...
Persistent link: https://www.econbiz.de/10008498298
This paper revisits the hypothesis that changes in inventory management were an important contributor to volatility reductions during the Great Moderation. It documents how changes in inventory behavior contributed to the stabilization of the U.S. economy within the durable goods sector, in...
Persistent link: https://www.econbiz.de/10005420630
Foreign direct investment (FDI) into the financial sectors of emerging economies soared during the 1990s, leaving many countries with banking sectors owned primarily by foreign institutions. While the implications of FDI into emerging markets are well documented, less clearly understood is how...
Persistent link: https://www.econbiz.de/10005372945