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This paper investigates how responses of US macroeconomic activities to monetary policy shocks depend on the state of broker-dealer leverage. The analysis makes use of leverage data to create an indicator series that distinguishes above and below trend leverage states for the economy which is...
Persistent link: https://www.econbiz.de/10014258552
Persistent link: https://www.econbiz.de/10014485313
We investigate how the high and low volatile states of oil prices affect the unemployment rate in the U.S. economy. We model the monthly unemployment rate data using a logistic smooth transition autoregressive process with allowing oil price uncertainty as a transition variable between high and...
Persistent link: https://www.econbiz.de/10014080019
This paper examines the impact of ownership structure and changes in the deposit insurance system on the market for bank time deposits in Poland. In an environment of less restrictive bank supervision and a deposit insurance policy that favored state banks, we find depositors exacted a price for...
Persistent link: https://www.econbiz.de/10005419974
Polish banks have been weakened by large loan losses and low capital. Recapitalization and better economic conditions have strengthened the industry, but problems remain, especially among some large state-owned banks. Continued improvement of the banking system will require additional domestic...
Persistent link: https://www.econbiz.de/10005373127