Similar Search Results

Cross-border liquidity, relationships and monetary policy: Evidence from the Euro area interbank crisis

Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - Deutsche Bundesbank - 2014

We analyze the impact of financial crises and monetary policy on the supply of wholesale funding liquidity, and also on … on interbank access and volume is stronger than on spreads. Liquidity supply restrictions are exacerbated for cross … price dispersion substantially decreases when the Eurosystem promises unlimited access to liquidity at a fixed price in …

Persistent link: https://www.econbiz.de/10011161234

Recessions, Growth and Financial Crises

Dwyer, Gerald P; Devereux, John; Baier, Scott L.; … - Volkswirtschaftliche Fakultät, … - 2013

We examine the relationship of banking crises with economic growth and recessions. Our data cover 21 economies from around the world, most from 1870 to 2009 with the rest starting in 1901 or earlier. The data include capital investment and human capital formation. We have two major findings....

Persistent link: https://www.econbiz.de/10011259781

Banking bubbles and financial crises

Miao, Jianjun; Wang, Pengfei - In: Journal of Economic Theory 157 (2015) C, pp. 763-792

government injects the same amount of liquidity in terms of present value. Bank capital requirements can prevent the formation of …

Persistent link: https://www.econbiz.de/10011263607

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10011083232

Never Say Never: Commentary on a Policymaker’s Reflections

Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2014

Stanley Fischer is a rarity among economic policymakers. He came to the policy world as an internationally recognized intellectual leader on macroeconomic theory and policy. He confronted numerous emerging market crises, including the globally systemic Asian crisis, as the IMF’s First Deputy...

Persistent link: https://www.econbiz.de/10011083383

The Labor Market Consequences of Financial Crises With or Without Inflation: Jobless and Wageless Recoveries

Calvo, Guillermo; Coricelli, Fabrizio; Ottonello, Pablo - C.E.P.R. Discussion Papers - 2012

This paper offers empirical evidence showing that, relative to "normal" recessions, financial crises hit the labor market by either enhancing the degree of joblessness and/or by further depressing the real wage – a situation that the paper labels "wageless recovery." This holds for a sample of...

Persistent link: https://www.econbiz.de/10011084561

Political Booms, Financial Crises

Herrera, Helios; Ordoñez, Guillermo; Trebesch, Christoph - Volkswirtschaftliche Fakultät, … - 2014

We show that political booms, measured by the rise in governments’ popularity, predict financial crises above and beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We show that governments in emerging...

Persistent link: https://www.econbiz.de/10011210891

Banking crises and financial integration: Insights from networks science

Caballero, Julian - In: Journal of International Financial Markets, … 34 (2015) C, pp. 127-146

This paper explores whether the level of de facto financial integration of banks in a country increases the incidence of systemic banking crises. The paper computes a measure of financial integration based on network statistics of banks participating in the global market of inter-bank syndicated...

Persistent link: https://www.econbiz.de/10011189483

Financial crises and exchange rate policy

Fornaro, Luca - In: Journal of International Economics 95 (2015) 2, pp. 202-215

This paper studies exchange rate policy in a small open economy model featuring an occasionally binding collateral constraint and Fisherian deflation. The goal is to evaluate the performance of alternative exchange rate policies in sudden stop-prone economies. The key element of the analysis is...

Persistent link: https://www.econbiz.de/10011191004

Monetary Policy: Short-Term Stabilization versus Long-Term Risks

Zamrazilová, Eva - In: Politická ekonomie 2014 (2014) 1, pp. 3-31

Central banks of major advanced economies have already started their sixth year of the greatest ever experiment in monetary policy at place. First, special measures were taken to prevent collapse of financial intermediation. At the same time main policy rates were cut down to historical lows...

Persistent link: https://www.econbiz.de/10011195222