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Shadow banking : financial intermediation beyond banks
Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018
Persistent link: https://www.econbiz.de/10011790739
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The macroeconomics of shadow banking
Botta, Alberto; Caverzasi, Eugenio; Tori, Daniele - In: Macroeconomic dynamics 24 (2020) 1, pp. 161-190
Persistent link: https://www.econbiz.de/10012163603
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Policy uncertainty, lender of last resort and the real economy
Jasova, Martina; Mendicino, Caterina; Supera, Dominik - 2021
We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future LOLRfunding for banks as a quasi-natural experiment....
Persistent link: https://www.econbiz.de/10012426306
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When Banks Punch Back : Macrofinancial Feedback Loops in Stress Tests
Catalan, Mario - 2020
In the presence of adverse macroeconomic shocks, simultaneous capital losses in multiple banks can prompt them to contract their balance sheets. These bank responses generate externalities that propagate in the form of macro-financial feedback loops. This paper develops a credit response and...
Persistent link: https://www.econbiz.de/10012829700
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The tale of two great crises
Fratianni, Michele; Giri, Federico - 2015
The great depression of 1929 and the great financial crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises...
Persistent link: https://www.econbiz.de/10011412358
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The shadow banking system : survey and typological framework
Poschmann, Jenny - 2011
Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...
Persistent link: https://www.econbiz.de/10009526259
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Financial Fragility and Growth Prospects : Credit Rationing During the Crisis
Albareto, Giorgio - 2012
This paper analyzes firms' difficulties in accessing credit before and during the crisis, by focusing on two of their characteristics: financial fragility and growth prospects. Our econometric analysis indicates that fragile financial conditions were associated with a much higher than average...
Persistent link: https://www.econbiz.de/10013099614
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Shadow banking and the limits of central bank liquidity support : how to achieve a better balance between global and official liquidity
Moe, Thorvald - 2012
meltdown. Bagehot's advice to 'lend freely at high rates against good collateral' has been stretched to the limit in order to … discussing the collateral polices related to central banks' lender-of-last-resort and market-maker-of-last-resort policies and … concept was central to Hyman P. Minsky's theory of financial instability, and suggest that his insights should be integrated …
Persistent link: https://www.econbiz.de/10009516740
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Traditional and shadow banks
Chrétien, Edouard; Lyonnet, Victor - 2019
This paper documents how traditional and shadow banks interacted with one another during the 2007 financial crisis, when both assets and liabilities flew from shadow to traditional banks. To rationalize their behavior, we propose a simple model which demonstrates the symbiotic coexistence and...
Persistent link: https://www.econbiz.de/10012107660