Narrow search
Showing 1 - 10 of 2,842
Cover Image
The Effect of TlTRO-II on Bank Lending
Laine, Olli-Matti - 2020
This study estimates the effect of the European Central Bank's second series of targeted longer-term refinancing operations (TLTRO-II) on bank lending using bank level data from multiple countries and instrumental variable estimation. Effects on corporate loans and loans for consumption are...
Persistent link: https://www.econbiz.de/10012836596
Cover Image
The Effect of TLTRO-II on Bank Lending
Laine, Olli-Matti - 2020
This study estimates the effect of the European Central Bank's second series of targeted longerterm refinancing operations (TLTRO-II) on bank lending using bank level data from multiple countries and instrumental variable estimation. Effects on corporate loans and loans for consumption are...
Persistent link: https://www.econbiz.de/10012849601
Cover Image
Bank credit and money creation on payment networks : a structural analysis of externalities and key players
Li, Ye; Li, Yi; Sun, Huijun - 2021
This paper documents a strong connection between payment system and credit supply. The dual role of deposits as … the average level of aggregate credit supply by 9% while amplify the volatility by 20%. We identify a small subset of … banks that have a disproportionately large influence on credit supply due to their special positions in the payment …
Persistent link: https://www.econbiz.de/10012816483
Cover Image
Trust in lending
Thakor, Richard T.; Merton, Robert C. - 2018
We develop a theory of trust in lending, distinguishing between trust and reputation, and use it to analyze the competitive interactions between banks and non-bank lenders (fintech firms). Trust enables lenders to have assured access to financing, whereas a loss of investor trust makes this...
Persistent link: https://www.econbiz.de/10011942332
Cover Image
Bank credit and money creation in a DSGE model of a small open economy
Karmelavičius, Jaunius; Ramanauskas, Tomas - In: Baltic journal of economics 19 (2019) 2, pp. 296-333
closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation. … resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels … monetary institutions and captures banks' institutional ability to create money. Our model features a small open economy with …
Persistent link: https://www.econbiz.de/10012123430
Cover Image
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/10011778050
Cover Image
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/10011761064
Cover Image
China's financial crisis : the role of banks and monetary policy
Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2015
This paper develops a model of the Chinese economy using a DSGE framework that accommodates a banking sector and money …
Persistent link: https://www.econbiz.de/10010465443
Cover Image
Financial factors in economic fluctuations
Christiano, Lawrence; Rostagno, Massimo; Motto, Roberto - 2010
We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the perception of market risk and hit financial...
Persistent link: https://www.econbiz.de/10011605238
Cover Image
Endogenous money: on banking behaviour in new and post Keynesian models
Georg, Co-Pierre; Pasche, Markus - 2008
endogenously determined. Although the microeconomics of the bank behaviour is quite simple, credit and money as well as bonds …In New Keynesian as well as in Post Keynesian macroeconomic models, money supply is assumed to be endogenous. The … reserves from portfolio and liquidity considerations. As a result, the money multiplier as well as the money base are …
Persistent link: https://www.econbiz.de/10010266680