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Shadow banking, risk-taking and monetary policy in emerging economies : a panel cointegration approach
Zhou, Sheunesu; Tewari, Devi D. - In: Cogent economics & finance 7 (2019) 1, pp. 1-17
financial stability objectives of central banks. We employ panel cointegration techniques and find a negative association …
Persistent link: https://www.econbiz.de/10012029659
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Macroeconomic effects of secondary market trading
Neuhann, Daniel - 2017
This paper develops a theory of the credit cycle to account for recent evidence that capital is increasingly allocated to inefficiently risky projects over the course of the boom. The model features lenders who sell risk exposure to non-lender investors in order to relax borrowing constraints,...
Persistent link: https://www.econbiz.de/10011636206
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Macroeconomic effects of secondary market trading
Neuhann, Daniel - 2016
This paper develops a theory of the secondary market trading of financial securitities in which endogenous asset market dynamics generate periods of growing aggregate credit volumes and falling credit standards even in the absence of "financial shocks." Falling credit standards in turn lead to...
Persistent link: https://www.econbiz.de/10011975286
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Financial intermediaries and the macroeconomy : evidence from a high-frequency identification
Ottonello, Pablo; Song, Wenting - 2022 - Last updated: May 20, 2022
We provide empirical evidence of the causal effects of changes in financial intermediaries' net worth on the aggregate economy. Our strategy identifies financial shocks as high-frequency changes in the market value of intermediaries' net worth in a narrow window around their earnings...
Persistent link: https://www.econbiz.de/10013252981
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The effect of inflation on growth : evidence from a panel of transition countries
Gillman, Max (contributor); Harris, Mark N. (contributor) - 2008
The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … transition countries over the 1990-2003 period; it uses a fixed effects, full-information maximum likelihood, panel approach to … simultaneous system. This allows for possible simultaneity bias in the baseline model. -- Growth ; transition ; panel data …
Persistent link: https://www.econbiz.de/10003785297
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The effect of inflation on growth : evidence from a panel of transition countries
Gillman, Max; Harris, Mark N. - 2009
The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … transition countries over the 1990-2003 period; it uses a fixed effects panel approach to account for possible bias from … demand that allows for possible simultaneity bias in the baseline model. -- growth ; transition; panel data ; inflation …
Persistent link: https://www.econbiz.de/10003873058
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The impact of macroprudential policy on credit growth in nine euro area economies
Lorenčič, Eva; Volčjak, Robert; Festić, Mejra - In: Naše gospodarstvo : NG 69 (2023) 2, pp. 1-14
In this paper, we investigate the impact of macroprudential policy measures (bundled together into a macroprudential policy index, MPI) on the non-financial corporate sector credit and household credit growth using a one-step system GMM empirical research method. The goal of our paper is to test...
Persistent link: https://www.econbiz.de/10014309997
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Modelling state dependence in cross-country panel data
Georgiadis, Georgios - 2012 - 1. Aufl.
Persistent link: https://www.econbiz.de/10009503901
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Stress relief? Funding structures and resilience to the Covid shock
Forbes, Kristin; Friedrich, Christian; Reinhardt, Dennis - 2023
This paper explores whether different funding structures-including the source, instrument, currency, and counterparty location of funding-affected the extent of financial stress experienced in various countries and sectors during the Covid-19 spread in early 2020. We measure financial stress...
Persistent link: https://www.econbiz.de/10014544666
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Global liquidity: Drivers, volatility and toolkits
Goldberg, Linda S. - 2023
Global liquidity refers to the volumes of financial flows-largely intermediated through global banks and non-bank financial institutions-that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context of...
Persistent link: https://www.econbiz.de/10014480528