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Securitization and the balance sheet channel of monetary transmission
Aysun, Uluc; Guldi, Melanie; Hepp, Ralf - Department of Economics, University of Connecticut - 2010
channel, and using bank-level observations, we find that securitized banks are more sensitive to borrowers' balance sheets and … conditions from a simple partial equilibrium framework suggest that the positive effects of securitization on policy …
Persistent link: https://www.econbiz.de/10008560526
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How Much Does Trade and Financial Contagion Contribute to Currency Crises? The Case of Korea
Qin, Duo - 2000
The prime task of modelling cross-market is to predict the imminence of a pestilent currency crisis. Empirical models are developed here to study the roles and channels of contagion in exchange rate volatilities, in ways in which are as economically sound and econometrically simple as possible....
Persistent link: https://www.econbiz.de/10014151339
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Bank globalization and the balance sheet channel of monetary transmission
Alpanda, Sami; Aysun, Uluc - Department of Economics, University of Connecticut - 2010
The literature typically finds that the development of financial markets has decreased the ability of central banks to … monetary transmission and bank globalization -- one aspect of financial development. The reason is that global banks are more … sensitive to borrowers' leverage. By affecting this leverage, monetary policy has a larger impact on global banks' lending and …
Persistent link: https://www.econbiz.de/10008548913
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Intervening against the Fed
Rodnyansky, Alexander; Timmer, Yannick; Yago, Naoki - 2023
This paper studies the spillovers of US monetary policy and the mitigating role of foreign exchange interventions (FXI) by combining deviations from a daily FXI policy rule with high-frequency US monetary policy shocks, daily exchange rates, and firm-level stock prices, as well as firm-level...
Persistent link: https://www.econbiz.de/10014377549
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Global banking and the balance sheet channel of monetary transmission
Aysun, Uluc; Alpanda, Sami - Department of Economics, College of Business Administration - 2011
The literature typically finds that the development of financial markets has decreased the ability of central banks to … monetary transmission and bank globalization -- one aspect of financial development. The reason is that global banks are more … sensitive to their borrowers’ leverage. By affecting this leverage, monetary policy has a larger impact on global banks’ lending …
Persistent link: https://www.econbiz.de/10010959942
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Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops
Aysun, Uluc - 2010
Countries with intermediate levels of institutional quality suffer larger output contractions following sudden stops of capital inflows than less developed nations. However, countries with strong institutions seldom experience significant falls in output after capital flow reversals. We...
Persistent link: https://www.econbiz.de/10013138449
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How Much Did Excess Debt Contribute to the 1997 Currency Crisis in Korea?
Qin, Duo - 2002
It is widely believed that seriously excess debt problems form a major cause of the 1997 Asian financial crisis. This paper investigates empirically the role of the debt problems with respect to both the won/$US rate fluctuations and the won collapse in November 1997. The problems are...
Persistent link: https://www.econbiz.de/10014181602
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How Much Does Trade and Financial Contagion Contribute to Currency Crises? The Case of Korea
Qin, Duo - School of Economics and Finance, Queen Mary - 2000
The prime task of modelling cross-market contagion is to predict the imminence of a pestilent currency crisis. Empirical models are developed here to study the roles and channels of contagion in exchange rate volatilities, in ways which are as economically sound and econometrically simple as...
Persistent link: https://www.econbiz.de/10005106306
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How Much Did Excess Debt Contribute to the 1997 Currency Crisis in Korea?
Qin, Duo - School of Economics and Finance, Queen Mary - 1999
It is widely believed that seriously excess debt problems form a major cause of the 1997 Asian financial crisis. This paper investigates empirically the role of the debt problems with respect to both the won/$US rate fluctuations and the won collapse in November 1997. The problems are...
Persistent link: https://www.econbiz.de/10005106316
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Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy
Hernandez-Verme, Paula; Wang, Wen-Yao - Volkswirtschaftliche Fakultät, … - 2009
We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...
Persistent link: https://www.econbiz.de/10005037756