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Despite the growing share of shadow banks in the U.S. mortgage market, the interaction between their origination and servicing business and its implications for monetary policy transmission are not well understood. We propose and test a novel channel of monetary policy transmission through...
Persistent link: https://www.econbiz.de/10013406527
As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks … crisis, in a context of financial market stress and weak bank balance sheets, unconventional monetary policy measures have … non-standard measures were successful in stimulating lending and which bank business models were more strongly affected …
Persistent link: https://www.econbiz.de/10012009071
The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions …. Considering such dimensions provides insights into the effect of monetary policy interventions because the credit components are …
Persistent link: https://www.econbiz.de/10012597851
exchange (FX) debt inflows and an increase of reserve requirements on domestic bank deposits in Colombia during a strong credit … boom, as well as credit registry and bank balance sheet data. Our results suggest that first, an increase in the local …We study how capital controls and domestic macroprudential policy tame credit supply booms, respectively targeting …
Persistent link: https://www.econbiz.de/10014354226
in the form of deposits to households. For given bank equity, market discipline implies that banks can take more deposits …. Specifically, when bank equity is low, then optimal monetary policy stabilizes output by supporting bank lending rather than …
Persistent link: https://www.econbiz.de/10012510693
economy. In our model, producers are financed by both bank debt and equity, and face a mix of systematic and idiosyncratic … macro-prudential policy is represented by a convex dependence of bank capital requirements on the quantity of … uncollateralized credit. We find that this kind of policy is more successful in suppressing equity price swings than moderating output …
Persistent link: https://www.econbiz.de/10013081636
This paper uses a natural experiment to study the impact of a loan supply shock on a Hungarian matched bank … affected via their external funding and positions on the swap market. The existence of firms with multiple bank links is …
Persistent link: https://www.econbiz.de/10012267952
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … without such assets. The effect is driven by core banks increasing credit supply to riskier and less productive firms located …
Persistent link: https://www.econbiz.de/10013279271
This paper studies the effects of harmonizing collateral policy in a monetary union. In 2007, the European Central Bank … without such assets. The effect is driven by core banks increasing credit supply to riskier and less productive firms located …
Persistent link: https://www.econbiz.de/10013336407
As the euro area has a predominantly bank-based financial system, changes in the composition and strength of banks … crisis, in a context of financial market stress and weak bank balance sheets, unconventional monetary policy measures have … non-standard measures were successful in stimulating lending and which bank business models were more strongly affected …
Persistent link: https://www.econbiz.de/10012871122