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Effectiveness and transmission of the ECB’s balance sheet policies
Boeckx, Jef; Dossche, Maarten; Peersman, Gert - 2014
crisis within a structural VAR framework. An expansionary balance sheet shock stimulates bank lending, stabilizes financial …
Persistent link: https://www.econbiz.de/10011506795
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Die Rolle der Banken bei der Transformation von Finanz- in Sachkapital: Studie im Auftrag des Staatssekretariats für Wirtschaft SECO, Direktion für Wirtschaftspolitik, DPWW
Abrahamsen, Yngve; Dibiasi, Andreas; Drechsel, Dirk; … - 2013
Durch Bereitstellung von Krediten tragen Banken zur Transformation von Finanzkapital in Sachkapital bei. Die Kreditvergabepolitik der Schweizer Banken hat sich im vergangenen Vierteljahrhundert stark gewandelt. Basierend auf einem Datensatz (1987-2012) mit bankengruppenspezifischen Bilanzdaten...
Persistent link: https://www.econbiz.de/10011386830
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Loan supply in Germany during the financial crisis
Busch, Ulrike; Scharnagl, Michael; Scheithauer, Jan - 2010
Distinguishing pure supply effects from other determinants of price and quantity in the market for loans is a notoriously difficult problem. Using German data, we employ Bayesian vector autoregressive models with sign restrictions on the impulse response functions in order to enquire the role of...
Persistent link: https://www.econbiz.de/10010300299
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Output and inflation responses to credit shocks: are there threshold effects in the euro area?
Calza, Alessandro; Sousa, João - 2005
This paper investigates whether output and inflation respond asymmetrically to credit shocks in the euro area. The methodology, based on a non-linear VAR system, follows work by Balke (2000) for the US. The results reveal evidence of threshold effects related to credit conditions in the economy....
Persistent link: https://www.econbiz.de/10011604527
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Bank loan supply and monetary policy transmission in Germany: An assessment based on matching impulse responses
Huelsewig, Oliver; Mayer, Eric; Wollmershäuser, Timo - 2005
. Applying a vector error correction model (VECM), we estimate the response of bank loans after a monetary policy shock taking … loans by matching the theoretical impulse responses with the empirical impulse responses to a monetary policy shock …
Persistent link: https://www.econbiz.de/10010276159
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How resilient is the German banking system to macroeconomic shocks?
Dovern, Jonas; Meier, Carsten-Patrick; Vilsmeier, Johannes - 2008
Macro-stress testing studies often rely on rather short sample periods due to the limited availability of banking data. They may fail to appropriately account for the cyclicality in the interaction between the banking system and macroeconomic developments. In this paper we use a newly...
Persistent link: https://www.econbiz.de/10010273175
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The bank lending channel: lessons from the crisis
Gambacorta, Leonardo; Marqués-Ibáñez, David - 2011
The 2007-2010 financial crisis highlighted the central role of financial intermediaries’ stability in buttressing a smooth transmission of credit to borrowers. While results from the years prior to the crisis often cast doubts on the strength of the bank lending channel, recent evidence shows...
Persistent link: https://www.econbiz.de/10011605381
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Precautionary liquidity shocks, excess reserves and business cycles
Bratsiotis, George; Theodoridis, Konstantinos - 2020
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance … restrictions imposed. The shock proxies the reluctance of the banking sector to "lend" to the real economy induced by an exogenous … change in financial intermediaries' preference for "high" liquid assets. The identified shock has sizeable and state …
Persistent link: https://www.econbiz.de/10012876010
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Precautionary Liquidity Shocks, Excess Reserves and Business Cycles
Bratsiotis, George J.; Theodoridis, Konstantinos - 2021
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance … restrictions imposed. The shock proxies the banking sector's reluctance to lend to the real economy induced by an exogenous … preference change for liquid assets. Through the lens of a DSGE model, the precautionary liquidity shock is shown to work through …
Persistent link: https://www.econbiz.de/10012632159
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Macroeconomic implications of financial imperfections: A survey
Claessens, Stijn; Kose, M. Ayhan - 2017
This paper surveys the theoretical and empirical literature on the macroeconomic implications of financial imperfections. It focuses on two major channels through which financial imperfections can affect macroeconomic outcomes. The first channel, which operates through the demand side of finance...
Persistent link: https://www.econbiz.de/10012060201