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Capital Controls, Corporate Debt and Real Effects : Evidence from Boom and Crisis Times

Fabiani, Andrea; Lopéz Piñeros, Martha; Peydró, … - 2023

crises. Exploiting a tax on foreign-currency (FX) debt inflows in Colombia before the Global Financial Crisis (GFC) and …

Persistent link: https://www.econbiz.de/10014354355

Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy

Fabiani, Andrea; López-Piñeros, Martha; Peydró, … - In: Journal of International Economics 139 (2022) November 2022, pp. --

We study how capital controls and domestic macroprudential policy tame credit supply booms, either directly or by enhancing the local bank-lending channel of monetary policy. We exploit credit registry data and the introduction of capital controls on foreign exchange (FX) debt inflows and...

Persistent link: https://www.econbiz.de/10013554691

Nonbank lenders as global shock absorbers: Evidence from US Monetary Policy spillovers

Elliott, David; Meisenzahl, Ralf R.; Peydró, José-Luis - 2023

We show that nonbank lenders act as global shock absorbers from US monetary policy spillovers. We exploit loan-level data from the global syndicated lending market and US monetary policy surprises. When US policy tightens, nonbanks increase dollar credit supply to non-US firms (relative to...

Persistent link: https://www.econbiz.de/10014480720

Capital Controls, Domestic Macroprudential Policy and the Bank Lending Channel of Monetary Policy

Fabiani, Andrea; Lopéz Piñeros, Martha; Peydró, … - 2023

We study how capital controls and domestic macroprudential policy tame credit supply booms, respectively targeting foreign and domestic bank debt. For identification, we exploit the simultaneous introduction of capital controls on foreign exchange (FX) debt inflows and an increase of reserve...

Persistent link: https://www.econbiz.de/10014354226

Nonbank lenders as global shock absorbers : evidence from US monetary policy spillovers

Elliott, David; Meisenzahl, Ralf; Peydró, José-Luis - 2023

We show that nonbank lenders act as global shock absorbers from US monetary policy spillovers. For identification, we exploit loan‑level data from the global syndicated lending market and US monetary policy surprises. We find that when US monetary policy tightens, nonbanks increase dollar...

Persistent link: https://www.econbiz.de/10014355993

Nonbank lenders as global shock absorbers : evidence from US Monetary Policy spillovers

Elliott, David; Meisenzahl, Ralf R.; Peydró, José-Luis - 2023

Persistent link: https://www.econbiz.de/10014335622

Hedger of Last Resort: Evidence from Brazil on FX Interventions, Local Credit and Global Financial Cycles

Barbone Gonzalez, Rodrigo; Khametshin, Dmitry; Peydró, … - 2022

We show that FX interventions attenuate global financial cycle (GFC)’s spillovers. We exploit GFC shocks and Brazilian central bank interventions in FX derivatives using three matched administrative registers: credit, foreign credit to banks, and employer-employee. After U.S. Taper Tantrum...

Persistent link: https://www.econbiz.de/10014279950

Financial crises and political radicalization: How failing banks paved Hitler’s path to power

Doerr, Sebastian; Gissler, Stefan; Peydró, José-Luis; … - In: The Journal of Finance 77 (2022) 6, pp. 3339-3372

Do financial crises radicalize voters? We study Germany's 1931 banking crisis, collecting new data on bank branches and … firm-bank connections. Exploiting cross-sectional variation in precrisis exposure to the bank at the center of the crisis … frequent in places affected by the banking crisis. Our results suggest an important synergy between financial distress and …

Persistent link: https://www.econbiz.de/10014279951

Risk mitigating versus risk shifting: Evidence from banks security trading in crises

Peydró, José-Luis; Polo, Andrea; Sette, Enrico; … - 2023

, we exploit different crisis shocks and supervisory ISIN-bank-month-level data. Less capitalized banks take relatively … different crisis shocks since 2007/08, including the COVID-19 one. A model of bank behavior rationalizes our findings. …

Persistent link: https://www.econbiz.de/10014280704

Public guarantees, private banks' incentives, and corporate outcomes: Evidence from the COVID-19 crisis

Jiménez, Gabriel; Laeven, Luc; Martinez-Miera, David; … - 2024

which banks have higher pre-crisis shares of firm total credit. Importantly, these effects are stronger for weaker banks …

Persistent link: https://www.econbiz.de/10014543611