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Banks' holdings of risky sovereign bonds in the absence of the nexus : yield seeking with central bank funding or de-risking?

Frey, Rainer; Weth, Mark - 2019

recourse to central bank finance is rather limited and does not affect the risk-taking behaviour of banks in a non … capitalised banks, a kind of "hidden moral suasion" or "home-biased" gambling for resurrection to actively push the sovereign-bank …

Persistent link: https://www.econbiz.de/10012268051

Governments as bankers : how European bonds have substituted bank deposits

Mourão, Paulo Reis; Stawska, Joanna Maria - In: Applied economics 52 (2020) 42, pp. 4605-4620

Persistent link: https://www.econbiz.de/10012298651

Central bank digital currency with heterogeneous bank deposits

Nyffenegger, Remo - 2022 - Revised version, March 2022

This paper analyses the effects of an introduction of a retail central bank digital currency (CBDC) on bank … intermediation in a tractable general equilibrium model with heterogeneous bank deposits and an imperfectly competitive loan market …. The agents in the economy have preferences over holding central bank money or bank deposits that are not solely based on …

Persistent link: https://www.econbiz.de/10013256654

Demography and equity premium

Kuhle, Wolfgang - 2008

Persistent link: https://www.econbiz.de/10003652517

Price-level targeting versus inflation targeting over the long-term

Hatcher, Michael C. - 2011 - Preliminary Draft

This paper investigates the long-term impact of price-level targeting on social welfare in an overlapping generations model in which the young save for old age by investing in productive capital and indexed and nominal government bonds. A key feature of the model is that the extent of bond...

Persistent link: https://www.econbiz.de/10008902955

Optimal indexation of government bonds and monetary policy

Hatcher, Michael C. - 2011 - Preliminary Draft

Using an overlapping generations model in which the young save for old age using indexed and nominal government bonds, this paper investigates how optimal indexation is influenced by monetary policy. In order to do so, two monetary policies with markedly different long run implications are...

Persistent link: https://www.econbiz.de/10008806362

Bond market clienteles, the yield curve and the optimal maturity structure of government debt

Guibaud, Stéphane; Nosbusch, Yves; Vayanos, Dimitri - 2011

We propose a clientele-based model of the yield curve and optimal maturity structure of government debt. Clienteles are generations of agents at different life cycle stages in an overlapping- generations economy. An optimal maturity structure exists in the absence of distortionary taxes and...

Persistent link: https://www.econbiz.de/10008823436

Demographics and asset returns : does the dynamics of population ageing matter?

Brunetti, Marianna; Torricelli, Costanza - In: Annals of finance 6 (2010) 2, pp. 193-219

Persistent link: https://www.econbiz.de/10003941215

Public debt accumulation and fiscal consolidation

Oguro, Kazumasa; Sato, Motohiro - 2011

Persistent link: https://www.econbiz.de/10009240060

Essays on risk, financial integration and learning

Rancoita, Elena - 2015

Persistent link: https://www.econbiz.de/10011304849

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