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Monetary Policy with Heterogeneous Collateralized Borrowing
Suárez-Lledó, José - Barcelona Graduate School of Economics (Barcelona GSE) - 2009
Secured debt has become a predominant form of credit. The purpose of this paper is to analyze collateral in a model of … money and its interaction with monetary policy. Borrowing capacity, and ultimately consumption, is linked to the value of … collateralizable asset in contingencies. The Friedman rule is the optimal policy. For any other policy credit and the use collateral …
Persistent link: https://www.econbiz.de/10010851491
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A monetary policy strategy in good and bad times: lessons from the recent past
Fahr, Stephan; Motto, Roberto; Rostagno, Massimo; … - 2011
We evaluate the ECB’s monetary policy strategy against the underlying economic structure of the euro area economy, in normal times and in times of severe financial dislocations. We show that in the years preceding the financial crisis that started in 2007 the strategy was successful at...
Persistent link: https://www.econbiz.de/10011605382
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Highway to the Danger Zone: die Gefahren des Niedrigzinses nehmen zu
Bley, Andreas; Weber, Jan Philip - In: Vierteljahrshefte zur Wirtschaftsforschung 85 (2016) 1, pp. 31-44
For more than seven years interest rates have remained on historically low levels. Yet both credit growth and the … structural factors and policies that dampen the risk of escalating prices and credit expansion on the German housing market. …
Persistent link: https://www.econbiz.de/10011739541
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Highway to the danger zone : die Gefahren des Niedrigzinses nehmen zu
Bley, Andreas; Weber, Jan Philip - In: Vierteljahrshefte zur Wirtschaftsforschung 85 (2016) 1, pp. 31-44
For more than seven years interest rates have remained on historically low levels. Yet both credit growth and the … structural factors and policies that dampen the risk of escalating prices and credit expansion on the German housing market …
Persistent link: https://www.econbiz.de/10011603631
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The bank lending channel : a time-varying approach
Varghese, Richard - 2018
Using a cross-country panel of 925 banks from 19 advanced economies, for the period 1981-2016, I examine how the bank lending channel of monetary policy has evolved over time. I find that the sensitivity of lending to bank balance sheet liquidity declines over time, with nearly all the reduction...
Persistent link: https://www.econbiz.de/10011927541
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Bank lending channel effectiveness : potential lessons for monetary policy
Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Journal of banking and financial economics 19 (2023) 1, pp. 160-117
The article supplements the research on the effectiveness of monetary policy transmission - especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan...
Persistent link: https://www.econbiz.de/10014515074
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Betting the House
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …
Persistent link: https://www.econbiz.de/10011145419
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Monetary policy and its impact on stock market liquidity: Evidence from the euro zone
Fernández-Amador, Octavio; Gächter, Martin; Larch, Martin - 2011
The recent financial crisis has been characterized by unprecedented monetary policy interventions of central banks with the intention to stabilize financial markets and the real economy. This paper sheds light on the actual impact of monetary policy on stock liquidity and thereby addresses its...
Persistent link: https://www.econbiz.de/10010294829
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Measures to tame credit growth: Are they effective?
Geršl, Adam; Jašová, Martina - 2012
This paper focuses on policy measures taken to curb the private sector credit growth in the period 2003-2008. Our … applied were effective in slowing down the credit growth. Deriving from country experiences, the paper argues that in order to …
Persistent link: https://www.econbiz.de/10010322274
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Does financial inclusion affect monetary policy in SAARC countries?
Lenka, Sanjaya Kumar; Bairwa, Arun Kumar - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-8
Alike the role of heart for human body, finance is the focal point of an economy, whereas savings and investment are its tubes and vessels. Hence, a solid financial system is a fundamental character of an enduring economy. The frozen financial system endures longer if its foundation is concrete...
Persistent link: https://www.econbiz.de/10011559191