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The nexus between monetary policy, innovation efficiency, and total factor productivity-evidence from global panel data
Yang, Hao-Chang; Chang, Chun Ping; Sahminan; Rishanty, … - In: Emerging markets, finance & trade : a journal of the … 60 (2024) 2, pp. 292-309
Persistent link: https://www.econbiz.de/10014513837
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Bank lending in Switzerland: capturing crosssectional heterogeneity and asymmetry over time
Beutler, Toni; Gubler, Matthias; Hauri, Simona; … - 2020
We study the bank lending channel in Switzerland over three decades using unbalanced quarterly bank-individual data … spanning 1987 to 2016. In contrast to the usual empirical approach, we take an agnostic stance on which bank characteristic … lending reaction occurring over time in a state-dependent manner. Our results are consistent with the existence of a bank …
Persistent link: https://www.econbiz.de/10012264674
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Efficient Demonetization
Dixit, Shiv - 2020
that switching to a state-contingent monetary policy produces long-run gains in central bank surplus equal to 28.5% of …
Persistent link: https://www.econbiz.de/10012853603
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States, Banks and the Financing of the Economy: Monetary Policy and Regulatory Perspectives
Balling, Morten; Jackson, Patricia; Gnan, Ernest; … - 2013
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689959
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Sovereign Stress, Unconventional Monetary Policy, and SME Access to Finance
Ferrando, Annalisa - 2015
We investigate the effect of sovereign stress and of unconventional monetary policy on small firms' financing patterns during the euro area debt crisis. We find that after the crisis started, firms in stressed countries were more likely to be credit rationed, both in the quantity and in the...
Persistent link: https://www.econbiz.de/10013019629
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Unconventional Monetary Policy, Funding Expectations, and Firm Decisions
Ferrando, Annalisa; Popov, Alexander A.; Udell, Gregory F. - 2021
more at firms expecting bank credit to improve in the future. Three separate unconventional policies by the ECB—the OMT … banks that were expected to increase SME lending due to the policy. Our results enhance our understanding of the bank …
Persistent link: https://www.econbiz.de/10013210723
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Monetary Policy, Labor Income Redistribution and the Credit Channel : Evidence from Matched Employer-Employee and Credit Registers
Jasova, Martina; Mendicino, Caterina; Panetti, Ettore; … - 2021
the most. Our findings uncover a central role for the firm-balance sheet and the bank lending channels of the monetary … do not find any redistributive effects for firms without bank credit …
Persistent link: https://www.econbiz.de/10013212001
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Unconventional monetary policy, funding expectations and firm decisions
Ferrando, Annalisa; Popov, Alexander; Udell, Gregory F. - 2021
more at firms expecting bank credit to improve in the future. Three separate unconventional policies by the ECB- the OMT … banks that were expected to increase SME lending due to the policy. Our results enhance our understanding of the bank …
Persistent link: https://www.econbiz.de/10012643265
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Do firms behave differently when nominal interest rates are below zero?
Abildgren, Kim; Küchler, Andreas - 2020
interest rates. They also tend to rebalance their portfolio of liquid assets away from bank deposits and reduce their degree of …
Persistent link: https://www.econbiz.de/10012318170
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Unconventional monetary policy and productivity : evidence on the risk-seeking channel from us corporate bond markets
Albrizio, Silvia; Conesa, Marina; Dlugosch, Dennis; … - 2019
We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US between 2008 and 2016. Using monetary policy surprises, obtained from changes in interest rates futures in narrow windows around FOMC announcements, we isolate the increased...
Persistent link: https://www.econbiz.de/10011975741