A tanulmányban körbejárjuk a devizahitelezés problémakörét. Az első részben az elméleti és az empirikus szakirodalom eredményeit ismertetjük, megvizsgáljuk, milyen tényezők segítik/segítették vagy gátolják/gátolták a devizahitelezés kialakulását, elsősorban a...

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

We analyze the differential impact of domestic and foreign monetary policy on the local supply of bank credit in domestic and foreign currencies. We analyze a novel, supervisory dataset from Hungary that records all bank lending to firms including its currency denomination. Accounting for...

The profit-maximizing and oligopoly bank model developed by Bresnahan and Lau allows determining the degree of market power held by an average bank. The equilibrium price equation includes a mark up, which is not used in the case of perfect competition but which is partially used in the case of...

In response to the financial crisis, the authorities in a number of countries used public funds to recapitalise their banks. Did a reduction of risk in banks' lending follow these rescue operations? To help answer this question, we analyse the balance sheets and syndicated loan signings of 87...

En los últimos años el crédito al sector privado creció notablemente en América Latina. Un aspecto central es determinar si esta dinámica se constituye en un proceso de convergencia hacia niveles de equilibrio o representa un factor de riesgo para la estabilidad financiera y monetaria....

Following the increase in private-sector indebtedness before the 2008 Great Recession, balance sheet adjustment by the most indebted agents will be a necessary condition for achieving balanced growth. This paper analyses the deleveraging of the non-financial private sector in four countries that...

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...

Questo lavoro analizza le diverse fasi della recente crisi economico-finanziaria, ponendo l'accento sull'entita' del credit crunch in Italia e nel resto d'Europa, al fine di cogliere le similitudini ma, soprattutto, le differenze tra i paesi centrali e quelli periferici ell'area dell'euro, tra i...

In this article I investigate whether bank ownership affects the credit channel of monetary policy by looking at the Turkish banking sector from the period 2006 to 2010. I analyze whether public banks, foreign banks, and private banks respond differently to changes in monetary policy by looking...