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Persistent link: https://www.econbiz.de/10011345086
There is growing acknowledgement among policymakers that climate change may give rise to potentially catastrophic financial risk and impact financial stability. This paper explores the specific features of climate-related financial risks (CRFR), drawing on a growing body of macrofinancial...
Persistent link: https://www.econbiz.de/10012427917
on financial markets and the wider economy. They can, for example, bias the private provision of real liquidity and …
Persistent link: https://www.econbiz.de/10011296085
We find evidence that the runs on banks and trust companies in the Panic of 1907 were linked to the Bank of England's contractionary monetary policy actions taken in 1906 and 1907 through the medium of copper prices. Results from our VAR models and copper stockpile data support our argument that...
Persistent link: https://www.econbiz.de/10012943729
The historical record has remained incomplete as to exactly why the Ohio Life failed on August 24, 1857 and what, if any, causal connection existed between the failure and the subsequent panic. Using new information sources, we make three main contributions to the literature. First, we conduct a...
Persistent link: https://www.econbiz.de/10012977135
source of liquidity helped to contain the effects of the crisis, by preventing the collapse of at least two other major … securitizers. While the underlying themes seem to have changed little in 250 years, the modest scope of the 1763 liquidity …
Persistent link: https://www.econbiz.de/10013065709
source of liquidity helped to contain the effects of the crisis, by preventing the collapse of at least two other major … securitizers. While the underlying themes seem to have changed little in 250 years, the modest scope of the 1763 liquidity … contrasts with events of late 2008. -- shadow banks ; central banks ; liquidity …
Persistent link: https://www.econbiz.de/10009552218
Shadow banking is a broad concept. A possible definition is that it comprises non-bank institutions which undertake bank-like activities. Another characteristic is that the sector is overall less regulated. Therefore there are still shortcomings in systematic collection of information of the sector.
Persistent link: https://www.econbiz.de/10011985212
We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on … on interbank access and volume is stronger than on spreads. Liquidity supply restrictions are exacerbated for cross … price dispersion substantially decreases when the Eurosystem promises unlimited access to liquidity at a fixed price in …
Persistent link: https://www.econbiz.de/10012988708
We propose the CoJPoD, a novel framework explicitly linking the cross-sectional and cyclical dimensions of systemic risk. In this framework, banking sector distress in the form of the joint probability of default of financial intermediaries (reflecting contagion from both direct and indirect...
Persistent link: https://www.econbiz.de/10013403523