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Social Sciences x Financial Institutions and Services x Monetary Policy, Central Banking, and the Supply of Money and Credit x clear all

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Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro- and Financial Policies

Aslı Demirgüç-Kunt and Luis Servén.

in The World Bank Research Observer

February 2010; p ublished online February 2010 .

Journal Article. Subjects: Economics; Monetary Policy, Central Banking, and the Supply of Money and Credit; International Finance; Financial Regulation; Banking; Corporate Governance. 14710 words.

The recent global financial crisis has shaken the confidence of industrial and developing countries alike in the very blueprint of the financial and macropolicies that underlie the Western...

Go to »  abstract

Are bank capital ratios pro-cyclical? New evidence and perspectives

Michael Brei and Leonardo Gambacorta.

in Economic Policy

April 2016; p ublished online March 2016 .

Journal Article. Subjects: Prices, Business Fluctuations, and Cycles; Monetary Policy, Central Banking, and the Supply of Money and Credit; Financial Regulation. 19898 words.

This paper analyses how the new Basel III leverage ratio and risk-weighted regulatory capital ratio behave over the cycle. The analysis proposes a set-up to test for the cyclical properties...

Bank Corporate Loan Pricing Following the Subprime Crisis

João A. C. Santos.

in The Review of Financial Studies

June 2011; p ublished online November 2010 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Banking; Corporate Governance. 12608 words.

The massive losses that banks incurred with the meltdown of the subprime mortgage market have raised concerns about their ability to continue lending to corporations. We investigate these...

Bank Liquidity, Interbank Markets, and Monetary Policy

Xavier Freixas, Antoine Martin and David Skeie.

in The Review of Financial Studies

August 2011; p ublished online April 2011 .

Journal Article. Subjects: Banking; Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit. 16661 words.

A lesson of the recent financial crisis is that the interbank market is crucial for banks facing uncertainty regarding their liquidity needs. This article studies the efficiency of the...

Bank Ratings and Lending Supply: Evidence from Sovereign Downgrades

Manuel Adelino and Miguel A. Ferreira.

in The Review of Financial Studies

July 2016; p ublished online January 2016 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Banking; Investment Banking; Financial Regulation; National Budget, Deficit, and Debt. 16940 words.

We study the causal effect of bank credit rating downgrades on the supply of bank lending. The identification strategy exploits the asymmetric impact of sovereign downgrades on the ratings...

Bank Risk-taking, Securitization, Supervision, and Low Interest Rates: Evidence from the Euro-area and the U.S. Lending Standards

Angela Maddaloni and José-Luis Peydró.

in The Review of Financial Studies

June 2011; p ublished online June 2011 .

Journal Article. Subjects: Economics; Banking; Financial Regulation; Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit. 19069 words.

Using a unique dataset of the Euro-area and the U.S. bank lending standards, we find that low (monetary policy) short-term interest rates soften standards for household and corporate loans....

Banking Sector Efficiency in Sub-Saharan Africa

François Boutin-Dufresne, Oral Williams and Tomasz A. Zawisza.

in Journal of African Economies

June 2015; p ublished online October 2014 .

Journal Article. Subjects: Banking; Economics; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 10779 words.

This paper examines the determinants of net interest margins (NIMs) in four regional blocks in Sub-Saharan Africa (SSA). Using bank-level data, we find that countries with a high level of...

Cash-in-the-Market Pricing and Optimal Resolution of Bank Failures

Viral V. Acharya and Tanju Yorulmazer.

in The Review of Financial Studies

November 2008; p ublished online December 2007 .

Journal Article. Subjects: Banking; Financial Regulation; Corporate Regulation; Monetary Policy, Central Banking, and the Supply of Money and Credit; Welfare Economics. 16795 words.

As the number of bank failures increases, the set of assets available for acquisition by surviving banks enlarges but the total liquidity available with surviving banks falls. This results...

Central banks and financial stability: rediscovering the lender-of-last-resort practice in a finance economy

Laurent Le Maux and Laurence Scialom.

in Cambridge Journal of Economics

January 2013; p ublished online August 2012 .

Journal Article. Subjects: Financial Regulation; Economics; Monetary Policy, Central Banking, and the Supply of Money and Credit. 9156 words.

The purpose of our paper is to assess whether central banks have adopted new practices of lending in last resort during the 2007–09 financial crisis. We compare the current period with the...

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China’s Pseudo-monetary Policy

Yongheng Deng, Randall Morck, Jing Wu and Bernard Yeung.

in Review of Finance

March 2015; p ublished online June 2014 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Financial Regulation; Corporate Regulation; Development Planning and Policy; Housing Markets, Production Analysis, and Business Location. 13490 words.

China’s monetary stimulation after the global financial crisis rapidly boosted its GDP. We argue that its efficacy derives from state control over its banking and corporate sectors. Beijing...

A comparative analysis of macroprudential policies

Yaprak Tavman.

in Oxford Economic Papers

April 2015; p ublished online January 2015 .

Journal Article. Subjects: Financial Regulation; Banking; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 8633 words.

The global financial crisis has clearly shown that macroeconomic stability is not sufficient to guarantee the stability of the financial system. Hence, the recent policy debate has focused...

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Constraints on LTV as a macroprudential tool: a precautionary tale

Jose G Montalvo and Josep M Raya.

in Oxford Economic Papers

July 2018; p ublished online March 2018 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Financial Regulation. 11338 words.

Abstract

The introduction of limits or regulatory penalties on high LTV ratios for residential mortgages is one of the most frequently used tools of...

Credit booms and macrofinancial stability

Giovanni Dell’Ariccia, Deniz Igan, Luc Laeven and Hui Tong.

in Economic Policy

April 2016; p ublished online March 2016 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Economics; Financial Regulation. 23492 words.

This paper explores several questions about credit booms and busts: When do credit booms occur? When do they end up in busts, and when do they not? What are the implications for different...

Crisis Resolution and Bank Liquidity

Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer.

in The Review of Financial Studies

June 2011; p ublished online September 2010 .

Journal Article. Subjects: Banking; Financial Regulation; Corporate Governance; Monetary Policy, Central Banking, and the Supply of Money and Credit; Welfare Economics. 17854 words.

What is the effect of financial crises and their resolution on banks' choice of liquidity? When banks have relative expertise in employing risky assets, the market for these assets clears...

CURBING THE MONEY MULTIPLIER: CAPITAL REQUIREMENTS VERSUS NARROW BANKING

Aldo Barba.

in Contributions to Political Economy

June 2018; p ublished online May 2018 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Banking; Financial Regulation. 4307 words.

Abstract

This article discusses financial regulation proposals based on capital and liquidity requirements and those that instead suggest a 100% reserve on...

A DECADE AFTER THE FINANCIAL CRISIS: A RETROSPECTIVE ON QUANTITATIVE EASING AND REGULATION

Ramana Ramaswamy.

in Contributions to Political Economy

June 2018; p ublished online May 2018 .

Journal Article. Subjects: Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit; Economics; Financial Institutions and Services. 6055 words.

Abstract

The Lehman failure precipitated the Great Recession and forced economic policy into unchartered terrain. This paper provides a retrospective on the...

Deposit insurance and risk taking

Franklin Allen, Elena Carletti and Agnese Leonello.

in Oxford Review of Economic Policy

October 2011; p ublished online October 2011 .

Journal Article. Subjects: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Regulation; Monetary Policy, Central Banking, and the Supply of Money and Credit. 6892 words.

We review the theory of deposit insurance, highlighting the underlying assumptions that were not satisfied during the recent financial crisis and that may have led to serious policy...

The Euro Interbank Repo Market

Loriano Mancini, Angelo Ranaldo and Jan Wrampelmeyer.

in The Review of Financial Studies

July 2016; p ublished online September 2015 .

Journal Article. Subjects: Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit; Economics; Banking; Financial Regulation. 13918 words.

The search for a market design that ensures stable bank funding is at the top of regulators' policy agenda. This paper empirically shows that the central counterparty (CCP)-based euro...

Financial Firm Bankruptcy and Contagion

Jean Helwege and Gaiyan Zhang.

in Review of Finance

July 2016; p ublished online October 2015 .

Journal Article. Subjects: Banking; Investment Banking; Financial Regulation; Corporate Governance; Bankruptcy; Money and Interest Rates; Monetary Policy, Central Banking, and the Supply of Money and Credit; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 18538 words.

The Lehman bankruptcy highlights the potential for interconnectedness to cause negative externalities through counterparty contagion, but the externalities may also arise from information...

Financial Innovations and Their Implications for Monetary Policy in Kenya

Lydia Ndirangu and Esman Morekwa Nyamongo.

in Journal of African Economies

January 2015; p ublished online December 2014 .

Journal Article. Subjects: Banking; Single Equation Models; Single Variables; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 9393 words.

This study investigates the effect of financial innovation on monetary policy in Kenya during the period 1998–2013; that is, whether the waves of financial innovation that have occurred...