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Central bank crisis interventions : a review of the recent literature on potential costs

Aldridge, Patrick; Cimon, David A.; Vala, Rishi - 2023

Central banks may engage in large-scale lending and asset purchases to stabilize financial markets and implement monetary policy during crises. The ability of these actions to restore financial market functioning is well documented; however, they come with costs. We provide a literature review of...

Persistent link: https://www.econbiz.de/10014439058

Systemic risk and collateral adequacy : evidence from the great crisis

Raykov, Radoslav - 2019

Conventional collateral requirements are highly conservative but are not explicitly designed to deal with systemic risk. This paper explores the adequacy of conventional collateral levels against systemic risk in the Canadian futures market during the 2008 crisis. Our results show that...

Persistent link: https://www.econbiz.de/10012017690

Understanding the systemic implications of climate transition risk : applying a framework using Canadian financial system data

Bruneau, Gabriel; Ojea-Ferreiro, Javier; Plummer, Andrew; … - 2023

Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect - or systemic - implications of these direct effects. We apply this framework...

Persistent link: https://www.econbiz.de/10014450612

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

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

Financial Development, Rule of Law and Wealth Inequality : Bayesian Model Averaging Evidence

Horváth, Roman - 2017

We examine the determinants of financial development using our global sample and employing a rich set of measures of financial development that assess the degree of depth, access, stability and efficiency of financial intermediaries. We use Bayesian model averaging to test competing theories...

Persistent link: https://www.econbiz.de/10012949309

Financial development, rule of law and wealth inequality : Bayesian model averaging evidence

Horváth, Roman; Horvatovay, Eva; Siranova, Maria - 2017

Persistent link: https://www.econbiz.de/10011737445

Financial development and economic growth : a meta-analysis

Valickova, Petra; Havránek, Tomáš; Horváth, Roman - 2013

We analyze 1334 estimates from 67 studies that examine the effect of financial development on economic growth. Taken …. Studies that do not address endogeneity tend to overstate the effect of finance on growth. While the effect seems to be weaker … economic growth than other financial intermediaries. We find no evidence of publication bias in the literature. …

Persistent link: https://www.econbiz.de/10009769236

Change and Constancy in the Financial System : Implications for Financial Distress and Policy

Borio, Claudio E. V. - 2007

Over the past three decades, the financial system has been going through a historical phase of major structural change. This paper traces the implications of this financial revolution for the dynamics of financial distress and for policy. It argues that, despite this revolution, some fundamental...

Persistent link: https://www.econbiz.de/10014223298

Pandemics and Firms : Drawing Lessons from History

Cevik, Serhan; Miryugin, Fedor - 2021

The global economy is in the midst of an unprecedented slump caused by the COVID-19 pandemic. To assess the likely evolution of nonfinancial corporate performance going forward, this paper investigates empirically the impact of past pandemics using firm-level data on more than 537,000 companies...

Persistent link: https://www.econbiz.de/10013250085