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Monetary policy under subjective beliefs of banks: optimal central bank collateral requirements

Böser, Florian - 2021 - This version: June 29, 2021

bank's choice of collateral standards in its lending facilities. Optimism on the side of banks, entailing a higher … collateral value of bank loans, can lead to excessive lending and bank default. Pessimism, though, can entail insufficient … lending and productivity losses. With an appropriate haircut on collateral, the central bank can perfectly neutralize the …

Persistent link: https://www.econbiz.de/10012585474

Unconventional monetary policies and central bank profits : seigniorage as fiscal revenue in the aftermath of the global financial crisis

Bibow, Jörg - 2018

This study investigates the evolution of central bank profits as fiscal revenue (or: seigniorage) before and in the aftermath of the global financial crisis of 2008-9, focusing on a select group of central banks - namely the Bank of England, the United States Federal Reserve System, the Bank of...

Persistent link: https://www.econbiz.de/10011910944

The Financial Impact of Lender-of-Last-Resort Borrowing from the Federal Reserve During the Financial Crisis

Blau, Benjamin M. - 2016

The U.S. Federal Reserve (Fed) was reluctant to release the names of firms that borrowed, and the amounts borrowed, from the emergency loan facilities during the financial crisis. We show that when the details of this information were finally made public by the Fed, there was no stock market...

Persistent link: https://www.econbiz.de/10012987235

Adaptive early warning systems : an axiomatic approach

Bhimjee, Diptes C. P. - In: Journal of central banking theory and practice 11 (2022) 2, pp. 145-164

The U.S. Subprime Crisis and the subsequent Great Recession have highlighted a renewed interest in the proper design and implementation of Early Warning Systems (E.W.S.), in order to help deter the onset of subsequent extreme financial events, through the implementation of adequate crisis...

Persistent link: https://www.econbiz.de/10013347094

Can the euro be saved? : an analysis of the future of the currency union

Stiglitz, Joseph E. - In: Rivista di politica economica 103 (2014) 7/9, pp. 7-42

Persistent link: https://www.econbiz.de/10010434176

Monetary Policy, Financial Regulation and Financial Stability : A Comparison between the Fed and the ECB

Schnabl, Gunther - 2020

The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...

Persistent link: https://www.econbiz.de/10012837553

Money markets, central bank balance sheet and regulation

Corradin, Stefano; Eisenschmidt, Jens; Hoerova, Marie; … - 2020

This paper analyses money market developments since 2005, and examines factors that have affected money market functioning. We consider several metrics of activity in both secured and unsecured euro area money markets, and study interactions with new Basel III regulations and with central bank...

Persistent link: https://www.econbiz.de/10012301955

Central bank crisis interventions : a review of the recent literature on potential costs

Aldridge, Patrick; Cimon, David A.; Vala, Rishi - 2023

Central banks may engage in large-scale lending and asset purchases to stabilize financial markets and implement monetary policy during crises. The ability of these actions to restore financial market functioning is well documented; however, they come with costs. We provide a literature review of...

Persistent link: https://www.econbiz.de/10014439058

Banking Diversity, Financial Complexity and Resilience to Financial Shocks : Evidence from Italian Provinces

Pisicoli, Beniamino - 2021

In this paper we investigate the influence of banking and financial diversity on stability. We compute an index of banking diversity for Italian provinces and, drawing from network theory, we propose a measure of the diversity and development of the overall provincial financial sector. Our...

Persistent link: https://www.econbiz.de/10013321486

Floating a "lifeboat" : the Banque de France and the crisis of 1889

White, Eugene N.; Hautcoeur, Pierre-Cyrille; Riva, Angelo - 2014

to counter a panic by lending freely at a high rate on good collateral, allowing insolvent institutions to fail. …

Persistent link: https://www.econbiz.de/10010361484