Similar Search Results

Adaptive early warning systems : an axiomatic approach

Bhimjee, Diptes C. P. - In: Journal of central banking theory and practice 11 (2022) 2, pp. 145-164

The U.S. Subprime Crisis and the subsequent Great Recession have highlighted a renewed interest in the proper design and implementation of Early Warning Systems (E.W.S.), in order to help deter the onset of subsequent extreme financial events, through the implementation of adequate crisis...

Persistent link: https://www.econbiz.de/10013347094

Liquidity regulation, the Central Bank, and the money market : conference paper

Scheubel, Beatrice; Körding, Julia - 2013 - This version: 15 February 2013

As reliance on excessively short-term wholesale funding has been one of the major causes for the 2007-2009 financial crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding without being clear on how such an approach will affect...

Persistent link: https://www.econbiz.de/10010342820

Procyclical finance : the money view

Li, Ye - 2017

Financial intermediaries issue the majority of liquid securities, and nonfinancial firms have become net savers, holding intermediaries' debt as cash. This paper shows that intermediaries' liquidity creation stimulates growth -- firms hold their debt for unhedgeable investment needs -- but also...

Persistent link: https://www.econbiz.de/10011968932

Reasons for the demise of interest : savings glut and secular stagnation or central bank policy?

Mayer, Thomas; Schnabl, Gunther - 2019

, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …

Persistent link: https://www.econbiz.de/10012124862

New financial stability governance structures and central banks

Edge, Rochelle M.; Liang, Jean Nellie - 2019

We evaluate the institutional frameworks developed to implement time-varying macroprudential policies in 58 countries. We focus on new financial stability committees (FSCs) that have grown dramatically in number since the global financial crisis, and their interaction with central banks, and...

Persistent link: https://www.econbiz.de/10012018438

Central Bankers as Supervisors : Do Crises Matter?

Masciandaro, Donato - 2018

theory does not indicate an optimal institutional setting. We construct several measures of spatial spillover effects and … the traditional theory of central banking has to be integrated with political economy considerations.Our results support … the view that the traditional theory of central banking has to be integrated with political economy considerations …

Persistent link: https://www.econbiz.de/10012937307

Interaction of macroprudential and monetary policies : practice ahead of theory

Duprey, Thibaut; Terajima, Yaz; Yang, Jing - 2024

This paper examines how monetary and macroprudential policies interact and possibly complement each other in achieving their respective price and financial stability objectives. We first review the Canadian experience of housing market cycles and highlight the need to coordinate the two sets of...

Persistent link: https://www.econbiz.de/10015163673

Monetary policy implementation in an interbank network : effects on systemic risk

Bluhm, Marcel; Faia, Ester; Krahnen, Jan Pieter - 2014

This paper makes a conceptual contribution to the e ffect of monetary policy on financial stability. We develop a microfounded network model with endogenous network formation to analyze the impact of central banks' monetary policy interventions on systemic risk. Banks choose their portfolio,...

Persistent link: https://www.econbiz.de/10010337579

Systemic risk in a network model of interbank markets with central bank activity

Georg, Co-Pierre; Poschmann, Jenny - 2010

The breakdown of the interbank money markets in the face of the recent financial crisis has forced central banks and governments to take extraordinary measures to sustain financial stability. In this paper we investigate which influence central bank activity has on interbank markets. In our...

Persistent link: https://www.econbiz.de/10003971540

Dealer financial conditions and lender-of-last-resort facilities

Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014

We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities -- the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) -- that provided liquidity against a range of assets during...

Persistent link: https://www.econbiz.de/10010404154