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Andolfatto, David; Nosal, Ed - 2020

Short-term debt is commonly used to fund illiquid assets. A conventional view asserts that such arrangements are run-prone in part because redemptions must be processed on a first-come, first-served basis. This sequential service protocol, however, appears absent in the wholesale banking...

Persistent link: https://www.econbiz.de/10012262222

The macroeconomic effects of shadow banking panics

Poeschl, Johannes - 2020

We study the effects of shadow banking panics in a macroeconomic model with a rich financial system, including deposit-financed retail banks and wholesale-financed shadow banks. The model can quantitatively match the dynamics of key variables around the US financial crisis. Wholesale funding...

Persistent link: https://www.econbiz.de/10012233428

Policy uncertainty, lender of last resort and the real economy

Jasova, Martina; Mendicino, Caterina; Supera, Dominik - 2021

We show that a reduction in lender of last resort (LOLR) policy uncertainty posi-tively affects bank lending and propagates to investment and employment. We exploita unique policy that reduced uncertainty regarding the availability of future LOLRfunding for banks as a quasi-natural experiment....

Persistent link: https://www.econbiz.de/10012426306

Insecure debt

Perotti, Enrico C.; Matta, Rafael - 2015 - This Draft: March 16, 2015

fundamental risk. This effect is separate from the liquidation externality caused by fire sales of seized collateral upon default …

Persistent link: https://www.econbiz.de/10010492342

The macroeconomic effects of shadow banking panics

Pöschl, Johannes - In: The B.E. journal of macroeconomics 23 (2023) 2, pp. 711-752

Persistent link: https://www.econbiz.de/10014368637

Firm subsidies, financial intermediation, and bank stability

Kazakov, Aleksandr; Koetter, Michael; Titze, Mirko; … - 2022

We use granular project-level information for the largest regional economic development program in German history to study whether government subsidies to firms affect the quantity and quality of bank lending. We combine the universe of recipient firms under the Improvement of Regional Economic...

Persistent link: https://www.econbiz.de/10013412630

Central bank collateral frameworks

Nyborg, Kjell G. - 2015

in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood …, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the … collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning …

Persistent link: https://www.econbiz.de/10011296085

Economic crises and the eligiblity for the lender of last resort : evidence from 19th century France

Bignon, Vincent; Jobst, Clemens - 2017

This paper uses panel econometric techniques to estimate a macro-financial model for fee and commission income over total assets for a broad sample of euro area banks. Using the estimated parameters, it conducts a scenario analysis projecting the fee and commission income ratio over a three...

Persistent link: https://www.econbiz.de/10011637365

Collateral Risk, Repo Rollover and Shadow Banking

Zhang, Shengxing - 2014

failing mechanism. I show that, as in the crisis, when collateral risk increases unexpectedly, the haircut and interest rate …

Persistent link: https://www.econbiz.de/10013047310

The macroeconomics of liquidity in financial intermediation

Porcellacchia, Davide; Sheedy, Kevin D. - 2024

explains the link between the liquidity premium and spreads. We present a theory of endogenous bank fragility arising from a … coordination friction among bank creditors. The theory's implications reduce to a single constraint on banks, which is embedded in …

Persistent link: https://www.econbiz.de/10014528265