Monetary Policy, Leverage, and Bank Risk-Taking∗ pot

... rate and bank risk is less pronounced for poorly capitalized banks and in less competitive banking markets. Third, the model predicts a negative relationship between the policy rate and bank ... depend on bank risk. 11 and probability of success q. As above, banks face a negatively sloped demand function for loans, L(r L ),wherer L is the gross interest rate the bank charges o...

Ngày tải lên: 22/03/2014, 23:20

... happening in credit markets in the aggregate. • Monetary policy: Central banks and other regulators should not have a laissez-faire attitude and let credit-driven bubbles proceed without any ... Price Stability Be the Primary Goal of Monetary Policy? • Hierarchical Versus Dual Mandates: – hierarchical mandates put the goal of price stability first, and then say that as long as...

Ngày tải lên: 15/11/2013, 20:27

... Bank of New York, Intermediate Targets and Indicators for Monetary Policy, July, pp. 452-73. Radecki, Lawrence J., and Vincent Reinhart. 1994. “The Financial Linkages in the Transmission of Monetary ... policy actions and interest rates also casts doubt on the standard view. For example, studies by Cook and Hahn (1989b) and by Radecki and Reinhart examined the response of...

Ngày tải lên: 06/03/2014, 02:21

... interest rates and bank spreads? Once per year, the BCB publishes (in Portuguese) the “Credit and Banking Economy Report”, which includes the most complete data available on lending costs and bank spreads. ... Papers and Technical Notes on credit and bank spreads. The links are presented below. Technical Notes: 35 – Judicial System and Credit Market in Brazil (in Portuguese)...

Ngày tải lên: 06/03/2014, 02:21

... Yash P. 1996. Monetary Policy and Long-Term Interest Rates. Federal Reserve Bank of Richmond Economic Quarterly, 82(3), 27–50. Meulendyke, Ann-Marie. 1998. U.S. Monetary Policy and Financial ... Mike Fleming, Jim Moser, and Vance Roley for their comments, and to Mike Anderson for excellent research assistance. The views expressed here are soley those of the author, and not nec...

Ngày tải lên: 06/03/2014, 02:21

... networks’, Bank of Finland Studies, E: 39. Martin, A and McAndrews, J J (2008), ‘Liquidity-saving mechanisms’, Journal of Monetary Economics, Vol. 55(3), pages 554-67. Shafransky, Y M and Doudkin, ... λ and τ when all banks make the same choices (we choose this representation for clarity; in reality ‘my’ delays depend on four variables: my choices of λ and τ, and ‘thei...

Ngày tải lên: 15/03/2014, 10:20

... monitoring and evaluation, including exposure assessment, indicators and systems for data collection at national level and for poor rural and urban communities where the need for information and action ... differential between domestic kerosene and LPG on one hand and other petroleum products that are close substitutes (e.g. commercial kerosene and LPG, and diesel) have led...

Ngày tải lên: 15/03/2014, 16:20

Ngày tải lên: 06/09/2013, 05:46

... to withstand populist pressures. The experiences over the last 20 years of the independent Bank of Israel, Central Bank of Brazil, National Bank of Poland, and Reserve Bank of New Zealand, among ... sometimes paid to the official mandate of central banks – do they follow the example of the Deutsche Bundesbank, and have a solely price stability mandate? Differences in mandates...

Ngày tải lên: 15/02/2014, 13:20

Ngày tải lên: 07/03/2014, 02:20