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Macroprudential policy, countercyclical bank capital buffers and credit supply: evidence from the spanish dynamic provisioning experiments
Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - In: Journal of Political Economy 125 (2017) 6, pp. 2126-2177
To study the impact of macroprudential policy on credit supply cycles and real effects, we analyze dynamic provisioning … differentially. We find that dynamic provisioning smooths credit supply cycles and, in bad times, supports firm performance. A 1 … percentage point increase in capital buffers extends credit to firms by 9 percentage points, increasing firm employment (6 …
Persistent link: https://www.econbiz.de/10012211192
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The Countercyclical Capital Buffer and the Composition of Bank Lending
Auer, Raphael A.; Ongena, Steven - 2019
question, we identify the compositional changes in banks’ supply of credit using the variation in their holdings of residential …
Persistent link: https://www.econbiz.de/10012141016
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A note on the long-run neutrality of monetary policy: new empirics
Asongu, Simplice A. - 2013
Economic theory traditionally suggests that monetary policy can influence the business cycle, but not the long-run potential output. Despite well documented theoretical and empirical consensus on money neutrality in the literature, the role of money as an informational variable for monetary...
Persistent link: https://www.econbiz.de/10011390853
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Atypical behavior of credit: Evidence from a monetary VAR
Afanasyeva, Elena - 2013
Credit boom detection methodologies (such as threshold method) lack robustness as they are based on univariate … detrending analysis and resort to ratios of credit to real activity. I propose a quantitative indicator to detect atypical … behavior of credit from a multivariate system - a monetary VAR. This methodology explicitly accounts for endogenous …
Persistent link: https://www.econbiz.de/10010368590
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A monetary policy strategy in good and bad times: lessons from the recent past
Fahr, Stephan; Motto, Roberto; Rostagno, Massimo; … - 2011
We evaluate the ECB’s monetary policy strategy against the underlying economic structure of the euro area economy, in normal times and in times of severe financial dislocations. We show that in the years preceding the financial crisis that started in 2007 the strategy was successful at...
Persistent link: https://www.econbiz.de/10011605382
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The statistical classification of cash pooling activities
Colangelo, Antonio - 2016
Cash pooling is a bank service that allows corporates to externalise the intra-group cash management, and thus manage their global liquidity effectively with lower costs. Although there is little quantitative information on the significance of the phenomenon, cash pooling appears to have become...
Persistent link: https://www.econbiz.de/10011606350
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Income inequality and private bank credit in developed economies
Kvedaras, Virmantas - 2017
the European Union member states that have large penetration of bank credit. Building on the model of financially open … increase in private bank credit relative to the gross domestic product (GDP) and the gap between real interest rate and GDP …
Persistent link: https://www.econbiz.de/10012055407
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Asset prices and macroeconomic outcomes: A survey
Claessens, Stijn; Kose, M. Ayhan - 2017
This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these...
Persistent link: https://www.econbiz.de/10012060200
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Macroeconomic implications of financial imperfections: A survey
Claessens, Stijn; Kose, M. Ayhan - 2017
changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …
Persistent link: https://www.econbiz.de/10012060201
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A estrutura patrimonial do sistema bancário no Brasil no períodico recente (I-2007/I-2014)
de Oliveira, Giuliano Contento - 2015
behavior of credit by public banks; especially Caixa Econômica Federal and Banco do Brasil. While the growth of banking credit …
Persistent link: https://www.econbiz.de/10011444824