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The Systemic Regulation of Credit Rating Agencies and Rated Markets

Sy, Amadou N. R. - 2009

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is...

Persistent link: https://www.econbiz.de/10014403058

Moral Hazard and International Crisis Lending : A Test

Dell'Ariccia, Giovanni - 2002

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailout of Russia in August 1998 is interpreted as an event that decreased the perceived...

Persistent link: https://www.econbiz.de/10014399552

Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies : Possible Impact of a New Basel Accord

Mulder, Christian B. - 2000

The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by …

Persistent link: https://www.econbiz.de/10014399839

Feeling the heat : climate shocks and credit ratings

Cevik, Serhan; Jalles, João Tovar - 2020

Climate change is an existential threat to the world economy like no other, with complex, evolving and nonlinear dynamics that remain a source of great uncertainty. There is a bourgeoning literature on the economic impact of climate change, but research on how climate change affects sovereign...

Persistent link: https://www.econbiz.de/10012486104

Creditless Recoveries

Abiad, Abdul - 2011

Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet these are not rare animals, and are not always miracles. About one out of five recoveries is "creditless", and average growth during these episodes is about a third lower than...

Persistent link: https://www.econbiz.de/10014412193

Bank Credit During the 2008 Financial Crisis : A Cross-Country Comparison

Aisen, Ari - 2010

This paper empirically estimates the main determinants of bank credit growth during the 2008 financial crisis. Using a … sample covering over 80 countries, this paper finds that larger bank credit booms prior to the crisis and lower GDP growth of … trading partners are among the most important determinants of the post-crisis bank credit slowdown. Structural variables such …

Persistent link: https://www.econbiz.de/10014404304

Fiscal Consolidation and the Cost of Credit : Evidence from Syndicated Loans

Agca, Senay - 2013

We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic...

Persistent link: https://www.econbiz.de/10014395407

Credit reversals

Vázquez, Francisco - 2021

This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity …

Persistent link: https://www.econbiz.de/10012604801

Banks in the global integrated monetary and fiscal model

Andrle, Michal; Kumhof, Michael; Laxton, Douglas; Muir, Dirk - 2015

Persistent link: https://www.econbiz.de/10011374775

House price synchronicity, banking integration, and global financial conditions

Alter, Adrian; Dokko, Jane; Seneviratne, Dulani - 2018

We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in residential property markets is examined as well. Looser global financial conditions...

Persistent link: https://www.econbiz.de/10011978387