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Capital regulation, risk-taking and monetary policy: a missing link in the transmission mechanism?
Borio, Claudio E. V.; Zhu, Haibin - Bank für Internationalen Zahlungsausgleich <Basel> - 2008
Few areas of monetary economics have been studied as extensively as the transmission mechanism. The literature on this topic has evolved substantially over the years, following the waxing and waning of conceptual frameworks and the changing characteristics of the financial system. In this paper,...
Persistent link: https://www.econbiz.de/10009248818
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Household decisions, credit markets and the macroeconomy: implications for the design of central bank models
Muellbauer, John - Bank für Internationalen Zahlungsausgleich <Basel> - 2010
presented at the 2009 BIS annual conference focused on the role of banks and other financial institutions by analysing the role …
Persistent link: https://www.econbiz.de/10005870913
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Ten propositions about liquidity crises
Borio, Claudio E. V. - Bank for International Settlements / Monetary and … - 2009
insurance schemes; the double-edged sword nature of liquidity provision by central banks; the often misunderstood role of …
Persistent link: https://www.econbiz.de/10009138459
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A Monetary Model with Strong Liquidity Effects
Hagedorn, Marcus - Institut für Schweizerisches Bankwesen <Zürich> - 2001
This paper studies the joint business cycle dynamics of inflation, money growth, nominal and real interest rates and the velocity of money. I extend and estimate a standard cash and credit monetary model by adding idiosyncratic preference shocks to cash consumption as well as a banking sector....
Persistent link: https://www.econbiz.de/10005857754
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Financial intermediation and the post-crisis financial system
Shin, Hyun Song - Bank für Internationalen Zahlungsausgleich <Basel> - 2010
Securitization was meant to disperse credit risk to those who were better able to bear it. In practice, securitization appears to have concentrated the risks in the financial intermediary sector itself. This paper outlines an accounting framework for the financial system for assessing the impact...
Persistent link: https://www.econbiz.de/10005870930
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Money and Liquidity in Financial Markets
Nyborg, Kjell G.; Östberg, Per - Swiss National Centre of Competence in Research North … - 2010
has its basis in demand for liquidity by banks. Tightnessin the interbank market for liquidity leads banks to engage in … what we term “liquiditypull-back,” which involves selling financial assets either by banks directly or by leveredinvestors …
Persistent link: https://www.econbiz.de/10009305106
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Implications of bank ownership for the credit channel ofmonetary policy transmission:Evidence from India
Bhaumik, Sumon Kumar; Dang, Vinh; Kutan, Ali M. - William Davidson Institute <Ann Arbor, Mich.> - 2010
observations beg the question of whether theeffectiveness of monetary policy through a lending channel differs across banks with … types of banks (i.e., private, state and foreign) to monetary policychanges is different in easy and tight policy regimes …. Our results suggest that there are considerabledifferences in the reactions of different types of banks to monetary policy …
Persistent link: https://www.econbiz.de/10009360487
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Reputation and Credit Market Formation
Fehr, Ernst; Zehnder, Christian - Institut für Schweizerisches Bankwesen <Zürich>; … - 2004
In this paper we show that reputation formation in endogenously formed relationships is a decisive determinant for the existence and performance of credit markets. In theabsence of any third party enforcement of debt repayment the contracting parties succeed in establishing stable bilateral...
Persistent link: https://www.econbiz.de/10005857994
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Stochastic Mortality,Macroeconomic Risks, andLife Insurer Solvency
Hanewald, Katja; Post, Thomas; Gründl, Helmut - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2009
Motivated by a recent demographic study establishing a link betweenmacroeconomic fluctuations and the mortality index kt in the Lee-Cartermodel, we assess the impact of macroeconomic fluctuations on the solvencyof a life insurance company. Liabilities in our stochastic simulationframework are...
Persistent link: https://www.econbiz.de/10005865446
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Towards a Regulatory Agenda for Banking in Europe
Benink, Harald A.; Schmidt, Reinhard H. - 2000
turbulence in international financial markets in the 1980s, and its impact on U.S. banks, gave rise to the notion that academics …
Persistent link: https://www.econbiz.de/10005840292