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bank-level dataset to assess at a quarterly frequency how changes in the U.S. Federal funds rate (before the crisis) and … the existence of a potent global bank lending channel. In response to changes in U.S. monetary conditions, U.S. banks … strongly adjust their cross-border claims in both the pre and post-crisis period. However, we also find that U.S. bank …
Persistent link: https://www.econbiz.de/10011336667
We study the role and the interaction of the quality of institutions and of counter-cyclical policies in leaning against the Global Financial Cycle (GFC) in Emerging Economies (EMEs). We show that heteroegeneity in institutional strength is a key determinant of the different effects of the GFC...
Persistent link: https://www.econbiz.de/10013488632
This paper explores the basic question of whose monetary policy matters for banks' international lending. In the international context, monetary policies from several countries could come into play: the lender's, the borrower's, and that of a third country, the issuer of the currency in which...
Persistent link: https://www.econbiz.de/10012912467
Persistent link: https://www.econbiz.de/10012134200
This paper will propose a plan to reform international finance – the World Financial Authority (WFA) Plan. Under such a … effective, regaining traction and preventing contagion. A central instrument to this end is the creation of the World Financial …
Persistent link: https://www.econbiz.de/10013095450
This paper provides evidence on how the new international regulation on Global Systemically Important Banks (G-SIBs) impacts the market value of large banks. We analyze the stock price reactions for the 300 largest banks from 52 countries across 12 relevant regulatory announcement and...
Persistent link: https://www.econbiz.de/10010412297
CCPs; and the implications for bank, insurer and asset manager business models, in particular whether Brexit would act as a …
Persistent link: https://www.econbiz.de/10011712197
Global banks are changing. With a new set of rules come new business models. We review the international dimension of the financial crisis, centring on cross-border losses and cross-currency funding problems that prompted authorities to adopt wide-ranging rescue measures and liquidity...
Persistent link: https://www.econbiz.de/10013081465
The global financial crisis triggered a vast number of new laws and regulations at international level, including initiatives that can be classified as "soft law". The legitimacy and efficacy of these new norms are subject to intensive academic and political debates. At the same time, soft law...
Persistent link: https://www.econbiz.de/10012903436
International financial linkages, particularly through global bank flows, generate important questions about the …. Empirical tests of the trilemma support this view that global bank effects are heterogeneous and that the primary drivers of …
Persistent link: https://www.econbiz.de/10010201279