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Consumption risk sharing over the business cycle : the role of small firms' access to credit markets
Hoffmann, Mathias; Stewen, Iryna - 2009
Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small … aggregate risk sharing are more pronounced in states in which small firms account for a large share income or employment. In … to have loosened the dependence of aggregate risk sharing on the business cycle. Not only do our result support that …
Persistent link: https://www.econbiz.de/10003807913
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Organizational complexity and balance sheet management in global banks
Cetorelli, Nicola; Goldberg, Linda S. - 2016
Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...
Persistent link: https://www.econbiz.de/10011446535
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The Post-Crisis Slump in the Euro Area and the US : Evidence from an Estimated Three-Region DSGE Model
Kollmann, Robert - 2016
The global financial crisis (2008-09) led to a sharp contraction in both Euro Area (EA) and US real activity, and was followed by a long-lasting slump. However, the post-crisis adjustment in the EA and the US shows striking differences - in particular, the EA slump has been markedly more...
Persistent link: https://www.econbiz.de/10012998137
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ABS Inflows to the United States and the Global Financial Crisis
Bertaut, Carol C. - 2013
The "global saving glut" (GSG) hypothesis argues that the surge in capital inflows from emerging market economies to the United States led to significant declines in long-term interest rates in the United States and other industrial economies. In turn, these lower interest rates, when combined...
Persistent link: https://www.econbiz.de/10013092538
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Spillovers from United States Monetary Policy on Emerging Markets : Different this Time?
Chen, Jiaqian - 2015
The impact of monetary policy in large advanced countries on emerging market economies — dubbed spillovers — is hotly debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset prices and capital flows were significant, though...
Persistent link: https://www.econbiz.de/10013028665
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Global trends in interest rates
Del Negro, Marco; Giannone, Domenico; Giannoni, Marc Paolo - 2018
convenience yield for safety and liquidity and by lower global economic growth …
Persistent link: https://www.econbiz.de/10012030041
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Global trends in interest rates
Del Negro, Marco; Giannone, Domenico; Giannoni, Marc Paolo - 2018
convenience yield for safety and liquidity and by lower global economic growth. …
Persistent link: https://www.econbiz.de/10011904671
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Equity capital, bankruptcy risk and the liquidity trap
Levintal, Oren - 2012
long time. -- liquidity trap ; financial crisis ; rare disasters ; equity capital ; leverage ; bankruptcy risk …This paper explains the emergence of liquidity traps in the aftermath of large-scale financial crises, as happened in … equity capital to the risk-free interest rate. When equity capital falls, bankruptcy risks rise. Firms become more vulnerable …
Persistent link: https://www.econbiz.de/10009535806
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A Comparison of the Handling of the Financial Crisis in the United States, the United Kingdom, and Australia
Brown, Elizabeth F. - 2011
The United States has over 115 different state and federal government agencies regulating financial services, which encompasses banking, securities and insurance firms and products. Various commentators have noted that at least part of the blame for the financial crisis of 2007-2009 in the...
Persistent link: https://www.econbiz.de/10013123818
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U.S. Monetary Policy and Income Inequality in Small Open Economies
Dash, Pradyumna; Kumar, Ankit; Subramanian, Chetan - 2021
Abstract We study the distributional and welfare implications of U.S. monetary policy shocks in a small open economy under the classic rules of an exchange rate peg and inflation targeting. In a model with heterogenous agents, we show that contractionary (expansionary) monetary policy shocks in...
Persistent link: https://www.econbiz.de/10013242240