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Foreign Booms, Domestic Busts : The Global Dimension of Banking Crises

Cesa-Bianchi, Ambrogio - 2017

This paper provides novel empirical evidence showing that foreign financial developments are a powerful predictor of domestic banking crises. Using a new data set for 38 advanced and emerging economies over 1970–2011, we show that credit growth in the rest of the world has a large positive...

Persistent link: https://www.econbiz.de/10012963710

Slow recoveries, endogenous growth and macroprudential policy

Bonciani, Dario; Gauthier, David; Kanngiesser, Derrick - 2021

Banking crises have severe short and long‑term consequences. We develop a general equilibrium model with financial frictions and endogenous growth in which macroprudential policy supports economic activity and productivity growth by strengthening bank’s resilience to adverse financial...

Persistent link: https://www.econbiz.de/10013230237

The Macroeconomic Effects of Monetary Policy : A New Measure for the United Kingdom

Cloyne, James - 2014

This paper estimates the effects of monetary policy on the UK economy based on a new, extensive real-time forecast data set. Employing the Romer–Romer identification approach we first construct a new measure of monetary policy innovations for the UK economy. We find that a 1 percentage point...

Persistent link: https://www.econbiz.de/10013055929

Monetary Policy Transmission in an Open Economy : New Data and Evidence from the United Kingdom

Cesa-Bianchi, Ambrogio - 2016

This paper constructs a new series of monetary policy surprises for the United Kingdom and estimates their effects on macroeconomic and financial variables, employing a high-frequency identification procedure. First, using local projections methods, we find that monetary policy has persistent...

Persistent link: https://www.econbiz.de/10012983746

Down in the Slumps : The Role of Credit in Five Decades of Recessions

Bridges, Jonathan - 2017

downturn than when credit growth has been subdued, whether associated with a systemic banking crisis or not and whether that …

Persistent link: https://www.econbiz.de/10012957934

Does Macropru Leak? Evidence from a UK Policy Experiment

Aiyar, Shekhar S. - 2012

The regulation of bank capital to improve the resilience of the financial system and, related to this aim, as a means of smoothing the credit cycle are central elements of forthcoming macroprudential regimes internationally. For such regulation to be effective in controlling the aggregate supply...

Persistent link: https://www.econbiz.de/10013111716

The Impact of Liquidity Regulation on Banks

Banerjee, Ryan - 2015

We present the first study to estimate the causal effect of liquidity regulation on bank balance sheets. It takes advantage of the heterogeneous implementation of tighter liquidity regulation by the UK Financial Services Authority in 2010. We find that banks adjusted the composition of both...

Persistent link: https://www.econbiz.de/10013018805

Did Pre-Crisis Mortgage Lending Limit Post-Crisis Corporate Lending? Evidence from UK Bank Balance Sheets

Zhang, Lu - 2017

residential property markets on their post-crisis business lending to explore the existence of a negative post-crisis loan supply … 2008 Q2 reduced their lending to business more after 2008 Q3. Post-crisis lending to business is also sensitive to the … mortgages to the self-employed, or mortgages with higher loan to value ratios prior to the crisis reduced their lending to non …

Persistent link: https://www.econbiz.de/10012961350

The Effect of House Prices on Household Borrowing : A New Approach

Cloyne, James - 2017

We investigate the effect of house prices on household borrowing using administrative mortgage data from the United Kingdom and a new empirical approach. The data contain household-level information on house prices and borrowing in a panel of homeowners, who refinance at regular and...

Persistent link: https://www.econbiz.de/10012962124

Has Weak Lending and Activity in the United Kingdom Been Driven by Credit Supply Shocks?

Barnett, Alina - 2013

economic activity during both the recent financial crisis and the various UK financial crises since 1966. It uses a structural … in bank lending since the onset of the crisis and between a third and a half of the fall in GDP relative to its historic …

Persistent link: https://www.econbiz.de/10013071472