Showing 1 - 10 of 10,989
Firm investment, Intangible assets, Loan terms, Credit constraint, Survey data, Instrumental variable approachUsing …
Persistent link: https://www.econbiz.de/10012520775
As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks’ balance sheets can have very sizeable implications for the transmission of monetary policy. This paper provides an overview of developments in banks’ balance sheets,...
Persistent link: https://www.econbiz.de/10012009071
the European Union member states that have large penetration of bank credit. Building on the model of financially open … increase in private bank credit relative to the gross domestic product (GDP) and the gap between real interest rate and GDP …
Persistent link: https://www.econbiz.de/10012054552
In March 2015, the Eurosystem launched its QE-programme. The asset purchases induced a rapid and strong increase in excess reserves, implying a structural liquidity surplus in the euro area banking sector. Against this background, the first part of this paper analyses the Eurosystem's liquidity...
Persistent link: https://www.econbiz.de/10012099037
persons based on a core set of harmonised concepts and definitions. Starting with reference data from September 2018, credit …) individual credit exposures falling within the reporting scope. The reporting framework is the outcome of in-depth discussions … Regulation, AnaCredit will, already in Stage 1, significantly enhance the value for analysis on credit and credit risk in the …
Persistent link: https://www.econbiz.de/10011639632
We contribute to the empirical literature on the impact of non-performing loan (NPL) ratios on aggregate banking sector variables and the macroeconomy by estimating a panel Bayesian VAR model for twelve euro area countries. The model is estimated assuming a hierarchical prior that allows for...
Persistent link: https://www.econbiz.de/10012216605
This paper uses a unique dataset where credit rejections experienced by euro area firms are matched with firm and bank … characteristics. This allows us to study simultaneously the role that bank and firm weakness had in the credit reduction observed in … the euro area during the sovereign debt crisis, and in credit developments characterising the post-crisis recovery …
Persistent link: https://www.econbiz.de/10012150099
The post-2008 period in the euro area was characterised by sharp dispersion in borrowing costs faced by firms, across both countries and firm types. This dispersion was an important manifestation of the financial fragmentation" which hampered the smooth transmission of accommodative monetary...
Persistent link: https://www.econbiz.de/10011697389
experienced pronounced credit booms at the same time that these imbalances were building up, this paper investigates the link … between domestic credit developments and the current account balance. Using a panel error correction specification, the …
Persistent link: https://www.econbiz.de/10011446282
The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new … to maintain credit growth levels close to economic growth potential. …
Persistent link: https://www.econbiz.de/10010199902