Showing 61 - 70 of 194,988
This paper investigates the risk channel of monetary policy on the asset side of banks' balance sheets. We use a factoraugmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, such as their collateral requirements for firms, are significantly loosened...
Persistent link: https://www.econbiz.de/10010432276
This paper investigates the risk-taking channel of monetary policy on the asset side of banks' balance sheets. We use a factor-augmented vector autoregression (FAVAR) model to show that aggregate lending standards of U.S. banks, e.g. their collateral requirements for firms, are significantly...
Persistent link: https://www.econbiz.de/10010485247
Can shifts in the credit supply generate a boom-bust cycle similar to the one observed in the US around 2008? To answer … in the housing market, the banking sector, and the rest of the macroeconomy, which provides strong support for the credit … the general equilibrium feedback from the credit supply to household labor income significantly amplify the bust. Moreover …
Persistent link: https://www.econbiz.de/10013322858
of growth induced by financial deepening from crises induced by credit booms. Cross-country panel regressions with five …
Persistent link: https://www.econbiz.de/10012987647
We document three new facts about nonbank lending in the syndicated loan market. First, lending by nonbanks is about three times as cyclical as lending by banks, even after controlling for borrower demand and loan characteristics. Second, the cyclicality of nonbanks - as opposed to bank health -...
Persistent link: https://www.econbiz.de/10012830929
We study quantitatively how far shifts in the credit supply can generate a boom-bust cycle, similar to the one observed … support for the credit supply channel. The deterioration of bank balance sheets during the bust, the existence of highly … leveraged households, and the general equilibrium feedback from the credit supply to household labor income significantly …
Persistent link: https://www.econbiz.de/10012837236
This paper analyzes the design of simple macroprudential rules for bank and non-bank credit markets in a medium … rule implies near price stability, while the optimal macroprudential policy rule stabilizes bank credit and bond volumes …
Persistent link: https://www.econbiz.de/10012549714
the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy … determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … directly lead to a reduction of real GDP growth, whereas shocks to the quantity of credit are less important in explaining …
Persistent link: https://www.econbiz.de/10012320523
the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy … determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … directly lead to a reduction of real GDP growth, whereas shocks to the quantity of credit are less important in explaining …
Persistent link: https://www.econbiz.de/10012383710
fluctuations, in line with prominent roles played by the credit crunch and collapse of the asset-backed security market in the … riskiness of borrowers. By using loan approval probability as a screening device, banks ration credit following financial …
Persistent link: https://www.econbiz.de/10012034334