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Bank integration and financial constraints: evidence from U.S. firms
Correa, Ricardo - Federal Reserve Board (Board of Governors of the … - 2008
the sensitivity of capital expenditures to the level of internal funds. The staggered deregulation of cross-state bank …
Persistent link: https://www.econbiz.de/10005498830
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To what extent will the banking industry be globalized? a study of bank nationality and reach in 20 European nations
Berger, Allen N.; Dai, Qinglei; Ongena, Steven; Smith, … - Federal Reserve Board (Board of Governors of the … - 2002
We model two dimensions of bank globalization -- bank nationality (a bank from the firm's host nation, its home nation, or a third nation) and bank reach (a global, regional, or local bank) -- using a two-stage nested multinomial logit model. Our data set includes over 2,000 foreign affiliates...
Persistent link: https://www.econbiz.de/10005372527
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Cross-border bank acquisitions: Is there a performance effect?
Correa, Ricardo - Federal Reserve Board (Board of Governors of the … - 2008
This paper uses a unique database that includes deal and bank balance sheet information for 220 cross-border acquisitions between 1994 and 2003 to analyze the characteristics and performance effects of international takeovers on target banks. A discrete choice estimation shows that banks are...
Persistent link: https://www.econbiz.de/10005372540
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Contagion: an empirical test
Wongswan, Jon - Federal Reserve Board (Board of Governors of the … - 2003
Using the conditional Capital Asset Pricing Model (CAPM), this paper tests for the existence and pattern of contagion … and capital market integration in global equity markets. Contagion is defined as significant excess conditional …). Capital market integration is defined as the situation in which only systematic risks are priced. The paper uses a panel of …
Persistent link: https://www.econbiz.de/10005372545
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A simple simulation model of international bank lending
Terrell, Henry S.; Dohner, Robert S. - Federal Reserve Board (Board of Governors of the … - 1987
The paper develops a simple simulation model of international bank lending to test the extent to which targeting of fixed shares in the stock of total bank claims on a borrower can make lending flows unstable. The model is based on three distinct types of lending strategies: potentially volatile...
Persistent link: https://www.econbiz.de/10005712769
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The macroeconomic effect of external pressures on monetary policy
Debortoli, Davide; Nunes, Ricardo - Federal Reserve Board (Board of Governors of the … - 2008
Central banks, whether independent or not, may occasionally be subject to external pressures to change policy objectives. We analyze the optimal response of central banks to such pressures and the resulting macroeconomic consequences. We consider several alternative scenarios regarding policy...
Persistent link: https://www.econbiz.de/10005712800
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Central bank independence, inflation and growth in transition economies
Loungani, Prakash; Sheets, Nathan - Federal Reserve Board (Board of Governors of the … - 1995
In this paper, we document two empirical relationships that have emerged as the former communist countries have taken steps to transform their economies from command systems to market-based systems. First, increased central bank independence has tended to improve inflation performance. Second,...
Persistent link: https://www.econbiz.de/10005712822
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Quantitative easing and bank lending: evidence from Japan
Bowman, David; Cai, Fang; Davies, Sally; Kamin, Steven - Federal Reserve Board (Board of Governors of the … - 2011
Prior to the recent financial crisis, one of the most prominent examples of unconventional monetary stimulus was Japan's "quantitative easing policy" (QEP). Most analysts agree that QEP did not succeed in stimulating aggregate demand sufficiently to overcome persistent deflation. However, it...
Persistent link: https://www.econbiz.de/10009141708
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Market segmentation and 1992: toward a theory of trade in financial services
Montgomery, John D. - Federal Reserve Board (Board of Governors of the … - 1991
The effect of the unification of the European banking market on the efficiency of the allocation of capital across … regulatory, barriers to capital mobility. In the light of this conceptual framework and the empirical results, the likely effect … of European integration on real capital mobility and efficiency of banking markets is discussed. …
Persistent link: https://www.econbiz.de/10005368145
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The determinants of the growth of multinational banking organizations: 1972-86
Dohner, Robert S.; Terrell, Henry S. - Federal Reserve Board (Board of Governors of the … - 1988
, suggesting that various factors including pressure by bank regulators to increase capital ratios and asset quality questions may …
Persistent link: https://www.econbiz.de/10005368167