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Automation and Welfare: The Role of Bequests and Education

Ghazanchyan, Manuk - 2024

This paper examines the welfare effects of automation in neoclassical growth models with and without intergenerational … transfers. In a standard overlapping generations model without such transfers, improvements in automation technologies that … intergenerational transfers based on altruism, automation could raise the well-being of all generations. With imperfect altruism, fiscal …

Persistent link: https://www.econbiz.de/10015058766

Credit Matters; Empirical Evidenceon U.S. Macro-Financial Linkages

Bayoumi, Tamim; Melander, Ola - International Monetary Fund (IMF) - 2008

This paper develops a framework for analyzing macro-financial linkages in the United States. We estimate the effects of a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and corporate loans, and the corresponding components of...

Persistent link: https://www.econbiz.de/10005599689

Effectiveness and Channels of Macroprudential Instruments : Lessons from the Euro Area

Tressel, Thierry; Zhang, Yuanyan - 2016

The crisis has highlighted the importance of setting up macro-prudential oversight frameworks, having effective macro-prudential instruments in place to be called upon to mitigate growing financial imbalances as needed. We develop a new approach using the euro area Bank Lending Survey to assess...

Persistent link: https://www.econbiz.de/10014408006

Informality and Bank Credit : Evidence from Firm-Level Data

Koeda, Junko - 2008

The paper relies on a firm-level data on transition economies to examine the relationship between informality and bank credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank credit. We also find that higher tax compliance costs...

Persistent link: https://www.econbiz.de/10014409020

Credit Booms and Lending Standards : Evidence From the Subprime Mortgage Market

Dell'Ariccia, Giovanni - 2008

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

Persistent link: https://www.econbiz.de/10014409025

Credit Matters : Empirical Evidence on U.S. Macro-Financial Linkages

Bayoumi, Tamim A. - 2008

Persistent link: https://www.econbiz.de/10014409035

An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data

Terrones, Marco E. - 2008

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...

Persistent link: https://www.econbiz.de/10014409056

Banks' liability structure and mortgage lending during the financial crisis

Dagher, Jihad C.; Kazimov, Kazim - 2012

We examine the impact of banks' exposure to market liquidity shocks through wholesale funding on their supply of credit during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand factors that could potentially be large when...

Persistent link: https://www.econbiz.de/10009618540

The domestic credit supply response to international bank deleveraging : is Asia different?

Aiyar, Shekhar; Jain Chandra, Sonali - 2012

During the global financial crisis, European banks contracted foreign claims on recipient economies sharply. This paper examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia. Identification is achieved by exploiting heterogeneity in...

Persistent link: https://www.econbiz.de/10009659761

Industrial Policy and State Ownership : How Do Commercial Banks Allocate Credit in China?

Xu, Ying - 2024

Using a novel data set with bank-sector-level annual loan data from 137 commercial banks in China from 2004 to 2021 and a quantified industrial policy data set based on text analysis, this paper explores the effects of industrial policy on bank credit provision. While the paper finds no...

Persistent link: https://www.econbiz.de/10015328163