Similar Search Results

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

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

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

The Transmission of Financial Shocks and Leverage of Banks : An Endogenous Regime Switching Framework

Hubrich, Kirstin; Waggoner, Daniel F. - 2021

We investigate the transmission of financial shocks through the macroeconomy. To that end we develop an endogenous regime-switching structural vector autoregressive model with time-varying transition probabilities. First, we allow for the transition probabilities to be dependent on the state of...

Persistent link: https://www.econbiz.de/10013242248

Monetary policy transmission over the leverage cycle : evidence for the euro area

Bräuer, Leonie; Rünstler, Gerhard - 2020

We study state dependence in the impact of monetary policy shocks over the leverage cycle for a panel of 10 euro area … countries. We use a Bayesian Threshold Panel SVAR with regime classifications based on credit and house prices cycles. We find …

Persistent link: https://www.econbiz.de/10012241107

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

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

Modelling state dependence in cross-country panel data

Georgiadis, Georgios - 2012 - 1. Aufl.

Persistent link: https://www.econbiz.de/10009503901

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

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