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Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete … in liquidity risk and expected liquidity needs for each bank and for the banking system. Large mergers tend to increase … expected aggregate liquidity needs, and thus the liquidity provision by the central bank. Comparative statics suggest that a …

Persistent link: https://www.econbiz.de/10009635892

Financial regulation, financial globalization and the synchronization of economic activity

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

We identify the effect of financial integration on international business cycle synchronization, by utilizing a confidential database on banks’ bilateral exposure and employing a country-pair panel instrumental variables approach. Countries that become more integrated over time have less...

Persistent link: https://www.econbiz.de/10009640319

Credit supply

Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; … - 2010

resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …

Persistent link: https://www.econbiz.de/10009640362

The euro area Bank Lending Survey matters

Bondt, Gabe de; Maddaloni, Angela; Peydró, José-Luis; … - 2010

This study examines empirically the information content of the euro area Bank Lending Survey for aggregate credit and … leading indicator for euro area bank credit and real GDP growth. Notwithstanding the short history of the survey, the findings … results are supportive of the existence of a bank lending, balance sheet, and risk-taking channel of monetary policy. They …

Persistent link: https://www.econbiz.de/10009640399

The impact of public guarantees on bank risk taking

Gropp, Reint; Gruendl, Christian; Guettler, Andre - 2010

experiment to examine the effect of government guarantees on bank risk taking, using a large data set of matched bank …

Persistent link: https://www.econbiz.de/10009640419

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price rigidities. Then, it estimates a set of structural parameters...

Persistent link: https://www.econbiz.de/10009636527

The stock market reaction to the 2005 non-tradable share reform in China

Beltratti, Andrea; Bortolotti, Bernardo; Caccavaio, Marianna - 2011

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS), shares typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis,...

Persistent link: https://www.econbiz.de/10009640778

Debt bias in corporate taxation and the costs of banking crises in the EU

Langedijk, Sven - 2014

Persistent link: https://www.econbiz.de/10010478771

Corporate bond spreads and real activity in the euro area

Buchmann, Marco - 2011

This paper aims at providing a detailed analysis of the leading indicator properties of corporate bond spreads for real economic activity in the euro area. In- and out-of-sample predictive content of corporate bond spreads are examined along three dimensions: the bonds’ quality , their term to...

Persistent link: https://www.econbiz.de/10009640612

Finance and growth in the EU

De Ávila, Diego Romero - 2003

This paper analyses the link between finance and growth by studying the effect that the process of financial deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main findings point to the existence of a positive long-run growth...

Persistent link: https://www.econbiz.de/10009635911

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