Similar Search Results

Feng, Ling - 2013

This study examines empirically and theoretically how credit tightness impacts the extensive margin (variety of goods) and intensive margin (production of each existing good) of exports. Panel regressions show that worsening financial conditions discourage exports by reducing both the variety of...

Persistent link: https://www.econbiz.de/10013072257

Central Bank Response to the 2007-08 Financial Market Turbulence : Experiences and Lessons Drawn

Gray, Simon - 2009

The paper reviews the policy response of major central banks during the 2007-08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements that proved most instrumental in calming markets. These...

Persistent link: https://www.econbiz.de/10012766236

Do Central Banks‘ repo Transactions and Liquidity Infusions Increase Financial Stability Risks? A Case for Circular Monetary Economics

Kouam, Henri - 2020

Central banks repo market operations and liquidity infusions occasion a structural liquidity mismatch in bank balance sheets and increase the dependence on central bank liquidity. This paper argues for what I term “Circular Monetary Economics”, an approach to monetary policy that seeks to...

Persistent link: https://www.econbiz.de/10012825201

Cash-in-the-Market Pricing in a Model with Money and Over-the-Counter Financial Markets

Mattesini, Fabrizio - 2014

Entrepreneurs need cash to finance their real investments. Since cash is costly to hold, entrepreneurs will underinvest. If entrepreneurs can access financial markets prior to learning about an investment opportunity, they can sell some of their less liquid assets for cash and, as a result,...

Persistent link: https://www.econbiz.de/10013061767

Fragility of Safe Asset Markets

Eisenbach, Thomas M.; Phelan, Gregory - 2022

We model a safe asset market with investors valuing safety, investors valuing liquidity, and constrained dealers. While safety investors and liquidity investors can interact symbiotically with offsetting trades in times of stress, we show that liquidity investors’ strategic interaction harbors...

Persistent link: https://www.econbiz.de/10013404549

Financial Shocks and Optimal Policy

Dellas, Harris - 2010

This paper incorporates banks as well as frictions in the market for bank capital into a standard New Keynesian model and considers the positive and normative implications of various financial shocks. It shows that the frictions matter significantly for the effects of the shocks and the...

Persistent link: https://www.econbiz.de/10013142710

Financial Shocks, Financial Frictions and Financial Intermediaries in DSGE Models : Comments on the Recent Literature

Arend, Mario - 2010

The aim of this work is to compare and contrast different ways of modeling financial shocks and financial intermediaries in the Dynamic Stochastic General Equilibrium models (DSGE models) and to discuss the empirical evidence on the importance of modeling financial sector and financial shocks in...

Persistent link: https://www.econbiz.de/10013142856

The quest for stability : the view of financial institutions

Balling, Morten (contributor); … - 2010

Persistent link: https://www.econbiz.de/10008737381

Twenty years after the financial crisis in the Republic of Korea

Lee, Jong-Wha - 2017

This study reviews the evolution of financial markets, institutions, and policy frameworks in the economy of the Republic of Korea over the two decades since the 1997 Asian financial crisis and assesses their effectiveness in reducing the likelihood and adverse effects of future financial...

Persistent link: https://www.econbiz.de/10011757958

Disequilibrium models, credit rationing, and bank wholesale funding

Hrdina, Thomas - 2011

Auswirkungen der Finanzkrise von 2007 auf die Vergabe von Bankkrediten. Während sich der erste Artikel ausschließlich mit … Finanzkrise. Im Gegensatz dazu werden diese beiden Forschungsschwerpunkte im zweiten Artikel zusammengeführt. Viele real … schließlich Disequilibrium Modelle auf Daten des U.S. Kreditmarktes an. Laut gängiger Meinung hatte die Finanzkrise von 2007 einen …

Persistent link: https://www.econbiz.de/10011853282