Showing 1 - 10 of 22
We analyze the determinants of real estate and credit bubbles using a unique borrower-lender matched dataset on mortgage loans in Spain. The dataset contain real estate credit and price conditions (loan principal and spread, and the appraisal and market price) at the mortgage level, matched with...
Persistent link: https://www.econbiz.de/10011650287
In this paper we analyze financial crises, and the interactions of macroprudential policy and credit. Financial crises are recurrent systemic phenomena, often-triggering deep and long-lasting recessions with large reductions in aggregate welfare, output and employment. Importantly for policy,...
Persistent link: https://www.econbiz.de/10011933347
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on banks’ international exposure for industrialized countries during 1978–2006. Theory makes ambiguous predictions and identification has been elusive due to lack of bilateral...
Persistent link: https://www.econbiz.de/10012210865
through the credit channel is unfeasible. Bank lending surveys by central banks, however, contain reliable quarterly … information on changes in loan conditions due to bank, firm and household balance sheet strength and on changes in loan demand … through the bank lending and the borrower's balance sheet channel; for households, demand is the strongest channel. …
Persistent link: https://www.econbiz.de/10012210866
Recent studies of monetary policy in developing countries document a weak bank lending channel based on aggregate data …, volumes and rates, coupled with unanticipated variation in monetary policy. We show that a monetary contraction reduces bank …
Persistent link: https://www.econbiz.de/10012210867
of the loan reduce this probability. Bank, borrower and market characteristics determine the impact of overnight rates on …
Persistent link: https://www.econbiz.de/10012210869
crisis. For identification, we use matched bank-firm level data, covering mainly small and medium-sized firms in Eastern … performance; especially when single-bank, small or with limited tangible assets. Moreover, firms in countries with lower financial …
Persistent link: https://www.econbiz.de/10012210870
analysing the comprehensive credit register of the Czech National Bank. Our duration analysis indicates that expansionary … policy rate conditioned on bank and borrower characteristics. …
Persistent link: https://www.econbiz.de/10012210871
To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning. Introduced in Spain in 2000, revised four times, and tested in its countercyclicality during the crisis, it affected banks differentially. We find that dynamic provisioning...
Persistent link: https://www.econbiz.de/10012211192
We study bank credit booms, exploiting the Spanish matched credit register over 2001-2009. We extend Khwaja and Mian … (2008)’s loan-level estimator by incorporating firm-level general equilibrium adjustments. Higher ex-ante bank real … existing banking relationships. However, higher bank real-estate exposure increases risk-taking, by relaxing standards of …
Persistent link: https://www.econbiz.de/10012211205