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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 Ease: A Factor behind Financial Crises? Some Evidence from OECD Countries

Ahrend, Rudiger - 2008

This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...

Persistent link: https://www.econbiz.de/10010298580

Monetary ease: a factor behind financial crises? : Some evidence from OECD countries

Ahrend, Rudiger - 2010

periods of financial deregulation and/or innovation. Finding also some support for a link of countries' pre-crisis monetary … stance with the extent to which their financial sectors were hit during the recent crisis, the paper argues that …) unwinding of which helped trigger the recent financial market crisis. -- Interest rates ; monetary policy ; housing ; sub …

Persistent link: https://www.econbiz.de/10003952786

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 Policy, Market Excesses and Financial Turmoil

Ahrend, Rudiger - 2008

This paper addresses the question of whether and how monetary policy ease may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...

Persistent link: https://www.econbiz.de/10012445746

Coping with Chile's External Vulnerability : A Financial Problem

Caballero, Ricardo J. - 2003

With traditional domestic imbalances long under control, the Chilean business cycle is driven by external shocks. Most importantly, Chile's external vulnerability is primarily a financial problem. A decline in the Chilean terms-of-trade, for example, is associated to a decline in real GDP that...

Persistent link: https://www.econbiz.de/10014128983

Economic performance in bank-based and market-based financial systems : do non-financial institutions matter?

Uzunkaya, Mehmet - In: Journal of applied finance & banking 2 (2012) 5, pp. 159-176

Based on a sample of 87 countries, this paper shows that non-financial institutions, specifically rule of law, do matter for the relative merits of bank-based and market-based financial systems. Market-based systems work better in low rule of law countries, while bank-based systems are more...

Persistent link: https://www.econbiz.de/10009673697

Regulating for Financial System Development, Financial Institutions Stability, and Financial Innovation

Mason, Joseph R. - 2012

The issues in today's crisis – and indeed in the most important crises, historically – can best be understood as a …

Persistent link: https://www.econbiz.de/10013104093

Markets and Institutions in Financial Intermediation : National Characteristics as Determinants

Aggarwal, Raj - 2009

Given the importance of financial intermediation and the rise of globalization, there is little prior research on how national preferences for financial intermediation (markets versus institutions) are determined by cultural, legal, and other national characteristics. Using panel analysis for...

Persistent link: https://www.econbiz.de/10013156446

The Financial Repression Index : U.S Banking System Since 1984

Whalen, Richard Christopher - 2019

2008 financial crisis as measured by the dramatic shift in net interest income in favor of banks. The paper also concludes …

Persistent link: https://www.econbiz.de/10012899645

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