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Loan supply shocks during the financial crisis : evidence for the Euro Area

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2011

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of … crisis. However, concerning both, the timing and the magnitude of the shocks our results also indicate that the Euro Area was … characterized by a considerable degree of cross-country heterogeneity. -- Euro Area ; panel vector autoregressive model ; sign …

Persistent link: https://www.econbiz.de/10009012054

"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects

Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - 2017

This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...

Persistent link: https://www.econbiz.de/10011735972

Global uncertainty

Caggiano, Giovanni; Castelnuovo, Efrem - 2021

We estimate a novel measure of global financial uncertainty (GFU) with a dynamic factor framework that jointly models global, regional, and country-specific factors. We quantify the impact of GFU shocks on global output with a VAR analysis that achieves set-identification via a combination of...

Persistent link: https://www.econbiz.de/10012431805

One size does not fit all : TFP in the aftermath of financial crises in three European countries

Abele, Christian; Bénassy-Quéré, Agnès; Fontagné, … - 2021

We analyse the impact of both the Global Financial Crisis of 2008 and the European sovereign and banking crisis of 2011-13 on firm-level productivity in France, Italy and Spain. We show that relying on a single break date in 2008 misses both the Eurozone crisis and countries' institutional...

Persistent link: https://www.econbiz.de/10012433745

Systemic risk in banking, fire sales, and macroeconomic disasters

Bougheas, Spiros P.; Harvey, David I.; Kirman, Alan P.; … - 2024

We develop a dynamic computational network model of the banking system where fire sales provide the amplification mechanism of financial shocks. Each period a finite number of banks offers a large, but finite, number of loans to households. Banks with excess liquidity also offer loans to other...

Persistent link: https://www.econbiz.de/10014490902

Financial crisis, creditor-debtor conflict, and populism

Gyöngyösi, Győző; Verner, Emil - In: The journal of finance : the journal of the American … 77 (2022) 4, pp. 2471-2523

Persistent link: https://www.econbiz.de/10013279844

The Greek crisis and financial assistance programmes : an evaluation

Arghyrou, Michael Georgiou - 2015

We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The crisis and the first programme's (2010-11) failure were mainly the result of misguided internal policies. The second programme (2012-14) achieved progress towards recovery but this...

Persistent link: https://www.econbiz.de/10011384358

Central bank policies and financial markets : lessons from the Euro crisis

Mody, Ashoka; Nedeljkovic, Milan - 2018 - This version: November 20, 2018

bond markets and improved economic sentiment, as reflected in higher equity prices. In contrast, passive euro liquidity …

Persistent link: https://www.econbiz.de/10011942687

Lifting the veil : an analysis of pre-trade transparency at the NYSE

Boehmer, Ekkehart; Saar, Gideon; Yu, Lei - In: The journal of finance : the journal of the American … 60 (2005) 2, pp. 783-816

Persistent link: https://www.econbiz.de/10002730425

Does the failure of the expectations hypothesis matter for long-term investors?

Sangvinatsos, Antonios; Wachter, Jessica - In: The journal of finance : the journal of the American … 60 (2005) 1, pp. 179-230

Persistent link: https://www.econbiz.de/10002645642