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analyze what macroeconomic shocks affect the soundness of the German banking system. Design/methodology/approach – The paper … draws on a micro-macro stress-testing framework for the German banking system in which macroeconomic and bank-specific data … macroeconomic variables and an indicator of stress in the banking system. To this end, the sign-restriction approach is applied …
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The purpose of this thesis is to argue that the core of a monetary economy is a network of triangular contracts between banks, firms, workers and capital goods suppliers. Not only does this network give rise to the creation and valuation of money but it is the organising feature of modern...
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extension counters into full-fledged branches. * Non-banking financial companies (NBFCs) to be allowed to issue co …
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Using a customized survey and an information-provision experiment, we establish that loan officers' individual subjective expectations about inflation, GDP growth, and policy rates vary substantially within and across bank types and have a sizable causal effect on credit supply decisions....
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In this paper we advocate a way of approaching macroeconomic policy, which stands in contrast to the now discredited 'new consensus in macroeconomics' policy framework. The five pillars of our approach are: the need for budget deficits to support the level of aggregate demand; full consideration...
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