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Equilibrium real interest rates, secular stagnation, and the financial cycle : empirical evidence for euro-area member countries

Belke, Ansgar; Klose, Jens - 2018

Is the Euro area as a whole, or are individual Euro-area member countries facing a period of sustained lower economic growth, a phenomenon known as secular stagnation? We tackle this question by estimating equilibrium real interest rates and comparing them to actual real rates. Since the...

Persistent link: https://www.econbiz.de/10012131206

The natural rate of interest and the financial cycle

Krustev, Georgi - 2018

estimation of the natural rates of interest, unemployment and output, and the sustainable growth rate of the US economy. By …

Persistent link: https://www.econbiz.de/10011871950

Equilibrium real interest rates, secular stagnation, and the financial cycle : empirical evidence for euro-area member countries

Belke, Ansgar; Klose, Jens - 2018

Persistent link: https://www.econbiz.de/10011799334

The impact of quantitative easing on bank loan supply and monetary policy implementation in the euro area

Horst, Maximilian; Neyer, Ulrike - 2019

contractionary impact on bank loan supply. As the newly created excess reserves are heterogeneously distributed across euro area … countries, the impact of QE on bank loan supply may differ across countries. Moreover, we derive implications for monetary … policy implementation. Increases in the central bank's main refinancing rate as well as in the minimum reserve ratio and …

Persistent link: https://www.econbiz.de/10012099037

Fear the walking dead? : zombie firms in the euro area and their effect on healthy firms' credit conditions

Havemeister, Lea Katharina; Horn, Kristian - 2023

Zombie firms may adversely impact healthy firms through several transmission channels. Besides real spillover effects on productivity or investment, zombies may also cause negative financial spillover effects, where zombies receive credit at more favourable conditions than healthy firms. We...

Persistent link: https://www.econbiz.de/10014309045

Risk Taking and Low Longer-Term Interest Rates : Evidence from the U.S. Syndicated Loan Market

Aramonte, Sirio - 2017

We use supervisory data to investigate risk taking in the U.S. syndicated loan market at a time when longer-term interest rates are exceptionally low, and we study the ex-ante credit risk of loans acquired by different types of lenders, including banks and shadow banks. We find that insurance...

Persistent link: https://www.econbiz.de/10012971007

Money market rates and retail interest regulation in China : the disconnect between interbank and retail credit conditions

Porter, Nathaniel John; Xu, TengTeng - 2013

movements in administered interest rates (part of the People's Bank of China's monetary policy toolkit) are important …

Persistent link: https://www.econbiz.de/10009757286

Spillovers of US unconventional monetary policy : quantitative easing, spreads, and international financial markets

Yildirim, Zekeriya; Ivrendi, Mehmet - In: Financial innovation : FIN 7 (2021), pp. 1-38

vector autoregressive models with high-frequency daily data. Blinder (Federal Reserve Bank of St. Louis Rev 92(6): 465 …

Persistent link: https://www.econbiz.de/10012798677

Basic interest rate, bank competition and bank spread in personal credit operations in Brazil : a theoretical and empirical analysis

Silva, Guilherme Jonas Costa da; Pirtouscheg, Lívia … - In: Economia : revista da ANPEC 16 (2015) 1, pp. 32-45

2009 to March 2013, using the Panel Data Methodology. The GMM System model was the one that best fitted the data gathered …

Persistent link: https://www.econbiz.de/10011865391

Bank lending in Switzerland: capturing crosssectional heterogeneity and asymmetry over time

Beutler, Toni; Gubler, Matthias; Hauri, Simona; … - 2020

We study the bank lending channel in Switzerland over three decades using unbalanced quarterly bank-individual data … spanning 1987 to 2016. In contrast to the usual empirical approach, we take an agnostic stance on which bank characteristic … lending reaction occurring over time in a state-dependent manner. Our results are consistent with the existence of a bank …

Persistent link: https://www.econbiz.de/10012264674