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Macroeconomic fluctuations and bank lending: evidence for Germany and the euro area
Eickmeier, Sandra; Hofmann, Boris; Worms, Andreas - 2006
This paper analyzes how bank lending to the private nonbank sector responds dynamically to aggregate supply, demand and monetary policy shocks in Germany and the euro area. The results suggest that the dynamic responses in the two areas are broadly similar, although there are some differences in...
Persistent link: https://www.econbiz.de/10010295823
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The transmission mechanism of credit support policies in the Euro Area
Boeckx, Jef; de Sola Perea, Maite; Peersman, Gert - 2016
We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have indeed been successful in stimulating the credit flow of...
Persistent link: https://www.econbiz.de/10011786057
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Commodity Price Shocks and the Business Cycle: Structural Evidence for the U.S.
Gubler, Matthias; Hertweck, Matthias S. - 2011
This paper develops a 9-dimensional SVAR to investigate the sources of the U.S. business cycle. We extend the standard set of identified shocks to include unexpected changes in commodity prices. Our main result is that commodity price shocks are a very important driving force of macroeconomic...
Persistent link: https://www.econbiz.de/10011390656
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The Tsunami: Measures of Contagion in the 2007–2008 Credit Crunch
Dungey, Mardi - In: CESifo Forum 09 (2008) 4, pp. 33-43
Persistent link: https://www.econbiz.de/10011695911
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Does financial activity cause economic growth?
Graff, Michael; Karmann, Alexander - 2001
To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...
Persistent link: https://www.econbiz.de/10010305424
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Banking and the macroeconomy in China: A banking crisis deferred?
Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2013
The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed …
Persistent link: https://www.econbiz.de/10010397727
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Macroeconomic Shocks and Foreign Bank Assets
Buch, Claudia M.; Carstensen, Kai; Schertler, Andrea - 2005
Changes in foreign asset holdings are one channel through which agents adjust to macroeconomic shocks. In this paper, we test whether foreign bank assets change as a result of domestic and foreign macroeconomic shocks. We frame our empirical analysis in a standard new open economy macro model in...
Persistent link: https://www.econbiz.de/10010260537
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Post Crisis Policy: Some Reflections of a Keynesian Economist
Aiginger, Karl - 2010
This paper compares the depth and length of the recent crisis with the Great Depression in the 1930s. It claims that economic policy played a crucial role in shortening and curtailing the recent crisis. We analyse which policies were applied during the recent crisis and which measures worked. We...
Persistent link: https://www.econbiz.de/10011435292
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Stress testing German banks against a global cost-of-capital shock
Duellmann, Klaus; Kick, Thomas - 2012
This paper introduces a stress test of the corporate credit portfolios of 24 large German banks by a two-stage approach: First, a macro-econometric model is used to forecast the impact of a substantial increase of the user cost of business capital for firms worldwide on three particularly...
Persistent link: https://www.econbiz.de/10010308263
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World Economy in Spring 2024: Momentum remains subdued
Gern, Klaus-Jürgen; Kooths, Stefan; Liu, Wan-hsin; … - 2024
unterschiedlich ist. Während die Konjunktur in den Vereinigten Staaten bis zuletzt kräftig war, befindet sich die Wirtschaft im … Impulse etwas an Fahrt verliert, belebt sich die Konjunktur in Europa und Japan mit Abklingen der bremsenden Wirkungen des … up as the dampening effects of the inflation shock have run their cause but, at the same time, the expansion in the …
Persistent link: https://www.econbiz.de/10014506984