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Connected Lending of Last Resort
Mitchener, Kris; Monnet, Eric - National Bureau of Economic Research - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10013537763
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Connected lending of last resort
Mitchener, Kris; Monnet, Eric - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10013494187
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Politicians, bankers and the Great Depression : the Spanish banking crisis of 1931
Jorge-Sotelo, Enrique - 2022
This paper contributes to the literature on moral hazard, lending of last resort and the political origins of banking crises. Drawing on newly accessed quantitative and qualitative archival sources the paper documents how a bank-Banco de Cataluña-formed a coalition with the Dictatorship of...
Persistent link: https://www.econbiz.de/10013382074
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(Un)sustainability in a monetary union : main factors in the Escudo Zone Monetary Union (1963-71)
Mata, Maria Eugénia; Salvador Roldão, Mário João - In: Essays in economic & business history : the journal of … 40 (2022), pp. 233-264
An extensive literature praises economic integration and monetary unions as powerful means for economic convergence between, and the growth of, nations. Several potential factors have been flagged for successful economic convergence, such as labor availability and mobility and the role of...
Persistent link: https://www.econbiz.de/10014336377
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Flight-to-safety and the Credit Crunch : a new history of the banking crisis in France during the Great Depression
Baubeau, Patrice; Monnet, Eric; Riva, Angelo; Ungaro, … - 2018
Persistent link: https://www.econbiz.de/10012037735
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Portugal's banking and financial crises : unexpected consequences of monetary integration?
Cardao-Pito, Tiago; Baptista, Diogo - In: Journal of economic policy reform 20 (2017) 2, pp. 165-191
Persistent link: https://www.econbiz.de/10011687532
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Portugal's Banking and Financial Crises : Unexpected Consequences of Monetary Integration?
Cardão-Pito, Tiago - 2016
Portugal's current financial crisis might be related to a banking crisis resulting from joining the Euro. The new … if all of these risks had disappeared. They began pumping money in Portugal, by borrowing intensively in Euros abroad at … and sovereign debt dramatically increased, which further soared when the Government rescued banks. Portugal was then …
Persistent link: https://www.econbiz.de/10012994260
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Bagehot for "followers": how did the Bank of Portugal manage the first post World War I crisis?
Reis, Jaime - In: Economic globalization and governance : essays in honor …, (pp. 13-34). 2021
paper considers the employment of the LLR function in Portugal during the early post World War I years. It is based on … primary material in the Bank of Portugal's archive. Using a detailed account of the first banking crisis of the early 1920s …, this study shows that the Bank of Portugal did not conform to Bagehot’s archetype and explains why the departure from this …
Persistent link: https://www.econbiz.de/10012310766
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Learning to manage external constraints : Belgian monetary policy during the Bretton Woods era (1944-1971)
Philippe, LEDENT; Isabelle, CASSIERS - Institut de Recherche Économique et Sociale (IRES), … - 2006
This paper analyses the Belgian monetary and exchange rate policies at the time of Bretton Woods. It sheds light on the groping adjustment process by which internal economic policies are hit by or adapt to the external constraints. In 1944, an ambitious monetary reform laid down the economic...
Persistent link: https://www.econbiz.de/10004984689
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175 years of financial risks and returns in central banking
Abildgren, Kim - 2016
Central banks around the world have substantial domestic and foreign financial assets and liabilities on their balance sheets reflecting their role as monetary authorities. This paper explores the long-term trends in risk and return in central banking using the central bank of Denmark, Danmarks...
Persistent link: https://www.econbiz.de/10011439749