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The transmission of bank credit conditions to firms-evidence from linked surveys

Ferrando, Annalisa; Holton, Sarah; Parle, Conor - 2024

Using a novel dataset linking firm level data from the Survey on Access to Finance of Enterprises (SAFE) and bank level … report access to finance as the worst problem and decrease their investment. After controlling for country-sector-time fixed … effects that capture cyclical macroeconomic conditions, effects only remain for firms that need finance. Moreover, we find …

Persistent link: https://www.econbiz.de/10015199485

Monetary transmission in Germany: new perspectives on financial constraints and investment spending

Von Kalckreuth, Ulf - 2001

In order to obtain a better understanding of the transmission channels for monetary policy, this paper assesses the importance of the interest rate and credit channels on business fixed investment in Germany. Our unbalanced panel of financial statements contains 44,345 firm/year observations for...

Persistent link: https://www.econbiz.de/10011604155

Finance and growth: a macroeconomic assessment of the evidence from a European angle

Papaioannou, Elias - 2007

This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an … Agenda. While more research is needed to establish causality and verify the theoretical channels linking access to finance …

Persistent link: https://www.econbiz.de/10011604833

Financial reforms and innovation: A micro-macro perspective

Boikos, Spyridon; Bournakis, Ioannis; Dimitris, … - 2021

reforms affect R&D investment and patent activity. First, a "micro" reformthat abolishes barriers to entry in the banking …

Persistent link: https://www.econbiz.de/10012515465

Revisiting Fiscal Sustainability : Panel Cointegration and Structural Breaks in OECD Countries

Afonso, António - 2012

We assess the sustainability of public finances in OECD countries, over the period 1970-2010, using unit root and cointegration analysis, both country and panel based, controlling for endogenous breaks. Results notably show: lack of cointegration – absence of sustainability – between...

Persistent link: https://www.econbiz.de/10013102099

3-Step Analysis of Public Finances Sustainability : The Case of the European Union

Afonso, António; Rault, Christophe - 2021

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios. Secondly, we apply the bootstrap panel cointegration...

Persistent link: https://www.econbiz.de/10013316526

Why gradual and predictable? Bank lending during the sharpest quantitative tightening ever

Burlon, Lorenzo; Ferrari, Alessandro; Kho, Stephen; … - 2025

Exploiting the recalibration of ECB's outstanding central bank funding in 2022, we show that a sharp reabsorption of bank liquidity induces a tightening impact on credit supply, as intended when central banks reduce their balance sheets. The tightening originates from the sudden relative...

Persistent link: https://www.econbiz.de/10015199515

Do banks practice what they preach? Brown lending and environmental disclosure in the euro area

Gambacorta, Leonardo; Polizzi, Salvatore; Reghezza, Alessio - 2023

This study examines whether the level of environmental disclosure in banks' financial reports matches less brown lending portfolios. Using granular credit register data and detailed information on firm-level greenhouse gas emission intensities, we find a negative relationship between...

Persistent link: https://www.econbiz.de/10014543606

Decomposing systemic risk: The roles of contagion and common exposures

Hałaj, Grzegorz; Hipp, Ruben - 2024

on granular balance sheet and interbank exposure data of the Canadian banking market. First, we document that contagion …

Persistent link: https://www.econbiz.de/10014543608

Determinants of bank performance: Evidence from replicating portfolios

Altavilla, Carlo; Begenau, Juliane; Burlon, Lorenzo; … - 2024

We construct a novel measure of bank performance, investigate its determinants, and show that it affects bank resilience, lending behaviour and real outcomes. Using confidential and granular data, we measure performance against a market-based benchmark portfolio that mimics individual banks'...

Persistent link: https://www.econbiz.de/10014543609