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experiment to examine the effect of government guarantees on bank risk taking, using a large data set of matched bank …/borrower information. The results suggest that banks whose government guarantee was removed reduced credit risk by cutting off the riskiest … adjusted their liabilities away from risk-sensitive debt instruments after the removal of the guarantee, while we do not …
Persistent link: https://www.econbiz.de/10009640419
This paper uses survey data for 29,000 households from 29 transition economies to explore how the use of banking services is related to household characteristics, bank ownership structure and the development of the financial infrastructure. At the household level we find that the holding of a...
Persistent link: https://www.econbiz.de/10009640628
From the onset of the 2007-2009 crisis, the Federal Reserve and the European Central Bank have aggressively lowered interest rates. Both sets of changes are at odds with an anti-inflationary stance of monetary policy; indeed, as the crisis began in August 2007 inflation expectations were high...
Persistent link: https://www.econbiz.de/10009640318
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gain market share and/or to the lower initial ability of these banks to correctly evaluate default risk …
Persistent link: https://www.econbiz.de/10009640613
We study the functioning and possible breakdown of the interbank market in the presence of counterparty risk. We allow … banks to have private information about the risk of their assets. We show how banks’ asset risk affects funding liquidity in …
Persistent link: https://www.econbiz.de/10009640453
We study the functioning of secured and unsecured interbank markets in the presence of credit risk. The model generates … secured and unsecured markets following an adverse shock to credit risk. The scarcity of underlying collateral may amplify the …
Persistent link: https://www.econbiz.de/10009640472
This paper studies the relationship between the size of the banking sector’s refinancing needs vis-à-vis the central bank and auction rates in its open market operations in times of financial market stress. In a theoretical model, it is found that marginal rates at central bank auctions may...
Persistent link: https://www.econbiz.de/10009640515