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global factors driving cross-border bank flows, alongside country-specific factors. It confirms the explanatory power of US … financial conditions, with flows decreasing in market volatility (VIX) and term premia, and increasing in bank leverage, growth … frameworks and better bank regulation, but less so for flows to non-financial firms …
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affected by bank branch deregulation and employment protection occurring over 1972-1993. We find that financial liberalization …
Persistent link: https://www.econbiz.de/10012677658
As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance. I review these analytics and describe how to assess the degree of competition in...
Persistent link: https://www.econbiz.de/10012677735
We show strong overall and heterogeneous economic incidence effects, as well as distortionary effects, of only shifting statutory incidence (i.e., the agent on which taxes are levied), without any tax rate change. For identification, we exploit a tax change and administrative data from the...
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bank lending and risk-taking channels of monetary policy by exploiting – Italian's unique – credit and security registers …
Persistent link: https://www.econbiz.de/10012854350
We analyze the effects of monetary policy on nonbank and bank credit supply to firms and households, in particular the … increase risk-taking in bank loans, we find that higher monetary policy rates lead to an expansion of credit supply and more … borrowers. Second, nonbanks reduce the effectiveness of the bank lending channel of monetary policy at the loan-level. However …
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