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The Shifting Drivers of Global Liquidity
Avdjiev, Stefan - 2017
The post-crisis period has seen a considerable shift in the composition and drivers of international bank lending and international bond issuance, the two main components of global liquidity. The sensitivity of both types of flow to US monetary policy rose substantially in the immediate...
Persistent link: https://www.econbiz.de/10012954014
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International Banking and Liquidity Risk Transmission : Lessons from Across Countries
Buch, Claudia M. - 2016
Network (IBRN), established in 2012, brings together researchers from around the world with access to micro-data on individual …
Persistent link: https://www.econbiz.de/10012988740
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Banks and Financial Intermediation in Emerging Asia : Reforms and New Risks
Mohanty, Madhusudan S. - 2013
The conventional view is that microeconomic reforms after the 1997-98 Asian financial crisis have greatly strengthened banking systems in Asia. Banks have become better capitalised, external exposures have been reduced and credit risk has been managed more effectively. But this conventional view...
Persistent link: https://www.econbiz.de/10013094599
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Cross-Border Prudential Policy Spillovers : How Much? How Important? Evidence from the International Banking Research Network
Buch, Claudia M. - 2017
The development of macroprudential policy tools has been one of the most significant changes in banking regulation in recent years. In this multi-study initiative of the International Banking Research Network (IBRN), researchers from 15 central banks and 2 international organizations use...
Persistent link: https://www.econbiz.de/10012963211
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Low Long-Term Interest Rates as a Global Phenomenon
Hördahl, Peter - 2016
two global benchmarks - the Federal funds rate at the short end and the "world" real interest rate at the long end. Real … longer-term rates, and thus on financing conditions, than is often supposed. The decline in the world long-term rate since … 2008 has been driven almost entirely by a fall in the world term premium (negative in nominal terms since mid-2014). The …
Persistent link: https://www.econbiz.de/10012985773
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The Global Long-Term Interest Rate, Financial Risks and Policy Choices in EMEs
Turner, Philip - 2014
The global long-term interest rate now matters much more for the monetary policy choices facing emerging market economies than a decade ago. The low or negative term premium in the yield curve in the advanced economies from mid-2010 has pushed international investors into EM local bond markets:...
Persistent link: https://www.econbiz.de/10013058511
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Benign Neglect of the Long-Term Interest Rate
Turner, Philip - 2014
Large-scale central bank purchases of government bonds have made the long-term interest rate key in the monetary policy debate. How central banks react to bond market movements has varied greatly from one episode to another. Driving the term premium in long-term rates negative may stimulate...
Persistent link: https://www.econbiz.de/10013064188