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Relationship and transaction lending in a crisis

Bolton, Patrick; Freixas, Xavier; Gambacorta, Leonardo; … - Banca d'Italia - 2013

banking. Our empirical analysis confirms the basic prediction of the model that relationship banks charged a higher spread …, thus confirming the informational advantage of relationship banking. …

Persistent link: https://www.econbiz.de/10011099658

Simple banking: profitability and the yield curve

Alessandri, Piergiorgio; Nelson, Benjamin - Banca d'Italia - 2014

How does bank profitability vary with interest rates? We present a model of a monopolistically competitive bank subject to repricing frictions, and test the modelï¿½s predictions using a unique panel data set on UK banks. We find evidence that large banks retain a residual exposure to...

Persistent link: https://www.econbiz.de/10011099664

Credit supply during a sovereign debt crisis

Bofondi, Marcello; Carpinelli, Luisa; Sette, Enrico - Banca d'Italia - 2013

We study the effect of the increase in Italian sovereign debt risk on credit supply on a sample of 670,000 bank-firm relationships between December 2010 and December 2011, drawn from the Italian Central Credit Register. To identify a causal link, we exploit the lower impact of sovereign risk on...

Persistent link: https://www.econbiz.de/10011099677

A structural model for the housing and credit markets in Italy

Nobili, Andrea; Zollino, Francesco - Banca d'Italia - 2012

the banking sector to affect the equilibrium in the housing market, through its effect on housing supply and demand. We …

Persistent link: https://www.econbiz.de/10011099686

Does issuing equities help R&D activity? Evidence from unlisted Italian high-tech manufacturing firms

Magri, Silvia - Banca d'Italia - 2014

This paper evaluates the causal effect of issuing equities on the probability that a firm will engage in R&D activity. Equity is a preferable source of external finance for innovation than debt. It does not require collateral, does not exacerbate moral hazard problems connected with the...

Persistent link: https://www.econbiz.de/10011099688

Large banks, loan rate markup and monetary policy

Cuciniello, Vincenzo; Signoretti, Federico M. - Banca d'Italia - 2014

This paper studies the implications of introducing large monopolistic banks, which can affect macroeconomic outcomes and thus the response of monetary policy to inflation, in a model with a collateral constraint linking the borrowersï¿½ credit capacity to the value of their durable assets....

Persistent link: https://www.econbiz.de/10011099726

What drives heterogeneity of procyclicality of loan loss provisions in the EU?

Olszak, Malgorzata; Pipien, Mateusz; Kowalska, Iwona; … - Wydział Zarządzania, Uniwersytet Warszawski - 2014

This paper documents a large cross-bank and cross-country variation in the relationship between loan loss provisions and the business cycle and explores bank management specific, bank-activity specific and country specific (institutional and regulatory) features that explain this diversity in...

Persistent link: https://www.econbiz.de/10011099739

Do institutional and political factors matter for the efficiency of banking sectors?

Olszak, Malgorzata Anna; Chodnicka, Patrycja - In: Journal of Banking and Financial Economics 1 (2014) 1, pp. 40-58

This paper investigates the relevance of banking- sector- specific and macroeconomic determinants of profitability of … 21 banking sectors over the years 1995-2009. In the analysis we apply the Arellano and Bond GMM-estimator to aggregated … data collected in a harmonized way by the OECD, to find out whether banking-sector-specific and macroeconomic determinants …

Persistent link: https://www.econbiz.de/10011099747

Access to Credit as a Growth Constraint

Volk, Matjaž; Trefalt, Polona - In: Journal of Banking and Financial Economics 1 (2014) 1, pp. 29-39

From a sample of 75,854 Slovenian firms in the period 1995-2011, we examine the effects of a firm's access to bank credit on its growth. The results suggest that as the external financing constraint relaxes and firm gets access to credit, the reliance on internal funds to finance growth...

Persistent link: https://www.econbiz.de/10011099748

Bank Credit, Firm Entry and Exit, and Economic Fluctuations in China

Feng, Ling; Guan, Yizhong; Li, Zhiyuan - In: Frontiers of Economics in China 9 (2014) 4, pp. 661-694

This study explores how a worsening bank credit quality affects firms¡¯ entry and exit decisions (i.e., changes in the extensive margin), and how the extensive margin variation amplifies the transmission of financial and technological shocks to the real economy. Using a vector autoregression...

Persistent link: https://www.econbiz.de/10011099843