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Financing investment: the choice between bonds and bank loans

Morellec, Erwan; Valta, Philip; Zhdanov, Alexei - 2014

bargaining power in default, operating in more competitive product markets, and facing lower credit supply are more likely to …

Persistent link: https://www.econbiz.de/10010258730

Inventory investment and the choice of financing : does financial development play a role?

Yang, Junhong; Guariglia, Alessandra; Peng, Yuchao; … - 2020

Persistent link: https://www.econbiz.de/10012655569

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

Will asset managers dash for cash? : implications for central banks

Cimon, David; Dion, Jean-Philippe; Fontaine, Jean-Sébastien - 2025

In times of stress, if the potential demand from asset managers for market liquidity approaches or exceeds dealers' ability to intermediate, it could lead to a precautionary but disruptive dash for cash and may lead central banks to intervene. If the likelihood of such a dash for cash increases...

Persistent link: https://www.econbiz.de/10015329860

Settlement balances deconstructed

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

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

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/10011283076

Monetary union with a single currency and imperfect credit market integration

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

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

The bank lending channel in a simple macro model : how to extend the Taylor Rule?

Spahn, Peter - 2014

The growth and deepening of financial markets entailed the expectation that the bank lending channel of monetary policy transmission would lose its importance. The paper explains why, on the contrary, the banking sector has become a major locus of origination and amplification of macro-financial...

Persistent link: https://www.econbiz.de/10010430024