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Chu, Parnell; Johnson, Grahame; Kinnear, Scott; … - 2022

The concept of settlement balances is simple in its definition but complex when attempting to understand how they interplay between a central bank and the financial system. Settlement balances can be defined as interest-bearing deposits that belong to participants of Canada's payment system and...

Persistent link: https://www.econbiz.de/10013256950

Assessing the impact of demand shocks on the US term premium

Barnett, Russell; Zmitrowicz, Konrad - 2018

During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...

Persistent link: https://www.econbiz.de/10011873794

Assessing the impact of the Bank of Canada's government bond purchases

Azizova, Chinara; Witmer, Jonathan; Zhang, Xu - 2024

Persistent link: https://www.econbiz.de/10014577895

International capital market frictions and spillovers from quantitative easing

MacDonald, Margaux - 2015

This paper analyzes the impact of large-scale, unconventional asset purchases by advanced country central banks on emerging market economies (EMEs) during 2008–2014. I show that there was substantial heterogeneity in the way EME currency, equity, and long-term sovereign bond markets were...

Persistent link: https://www.econbiz.de/10011300668

Financial stress and economic dynamics : an application to France

Aboura, Sofiane; Roye, Björn van - 2013

In this paper, we develop a financial stress index for France that can be used as a real-time composite indicator for the state of financial stability in France. We take 17 financial variables from different market segments and extract a common stress component using a dynamic approximate factor...

Persistent link: https://www.econbiz.de/10009721786

Monetary union with a single currency and imperfect credit market integration

Bignon, Vincent; Breton, Régis; Rojas Breu, Mariana - 2015

This paper shows that currency arrangements impact on credit available through default incentives. To this end we build … a symmetric two-country model with money and imperfect credit market integration. With the Euro Area context in mind, we … capture differences in credit market integration by variations in the cost for banks to grant credit for cross …

Persistent link: https://www.econbiz.de/10011374047

Financial health, exports and firm survival : a comparison of British and French firms

Görg, Holger; Spaliara, Marina-Eliza - 2009

We examine the differential effects of financial status and exporting activity on the likelihood of survival for firms in the UK and France - two countries with different financial systems. We aim to answer two main questions: What is the direct impact of financial characteristics and different...