Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence from Lending Standards potx

... of standards to average and riskier borrowers is similar for loans for house purchase, Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence from Lending Standards ... rates. Banking regulation and supervision standards Now we analyze whether the impact of low rates on the softening of standards is lower with stronger regulat...

Ngày tải lên: 29/03/2014, 13:20

... short- and long-term nominal interest rates, a key question that we want to address in the paper. 19 Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence from Lending ... short-term and long-term interest rates on the softening of lending standards directly and also indirectly in conjunction with securitization activity and...

Ngày tải lên: 06/03/2014, 14:20

Ngày tải lên: 22/03/2014, 17:20

... responses of note and 14 The opposite result is obtained by Roley and Sellon (1999), looking at one-day changes on FOMC 17 Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds ... Surprises and Interest Rates: Evidence from the Fed Funds Futures Market Abstract This paper estimates the impact of monetary policy actions on bill, note, and bond yie...

Ngày tải lên: 06/03/2014, 02:21

... 2 n B b r L k k = ¶ ¶ and n = number of banks; L k = demand for loans at bank k; r k = interest rate on loans at bank k; r j = interest rate on loans at bank j; r = average interest rate on ... for the Netherlands’ and Finnish banking systems vary between 200 and 350 in the Netherlands and between 350 and 500 in Finland, although the index for time deposit...

Ngày tải lên: 15/03/2014, 14:20

... long-term interest rates and growth rates, we use the present value of one-period interest rates and one-period growth rates of future dividends. This is a nice model in that it has some interesting ... Found 43 P. C. below 1939,” November 26, 1946, p. 15. 18 and modern) relative to interest rate” since 1960. Between 1890 and 1960 there was only one reference to real inte...

Ngày tải lên: 17/03/2014, 08:20

... Reserve, the Bank of England, the Bank of Canada, the Bank of Sweden and the Swiss National Bank, with the support of the Bank of Japan, have carried out a coordinated reduction in interest rates: ... of bank interest rates (Cottarelli and Kourelis, 1994): br t = v + φ j br t− j j=1 j* ∑ + γ k mr t−k k=0 k* ∑ + ε t (2) where br and mr are bank and market rate...

Ngày tải lên: 22/03/2014, 23:20

... Nevertheless, further interest rate increases seem likely, and these may attract even more funds from abroad. This exposes the receiving economies to the risk of rapid and large capital outflows and the reversal ... that the timing of the exit from unconventional monetary policy can be determined independently from the exit from low interest rates. The exact sequencing of...

Ngày tải lên: 17/02/2014, 03:20

... Diamond and Rajan (2009), Acharya and Naqvi (2010) and Agur and Demertzis (2010) ex- amine the optimal policy when the monetary au thority has a …nancial stability objective. Farhi 7 and Tirole ... of bonds only and abstract from outstandi ng bonds for computational reasons. Considering the valua tion e¤ects of current policy in the presence of outstanding bond s might be a n in...

Ngày tải lên: 15/03/2014, 14:20

... Structure and Competition among Retail Depository Institutions,” working paper. Corvoisier, Sandrine and Reint Gropp, 2002, Bank Concentration and Retail Interest Rates,” Journal of Banking and ... Efficiency and Prices: Evidence from a Bank Profit Function,” Review of Industrial Organization 12, 95-139. Amel, Dean F. and Martha Starr-McCluer, 2002, “Market Definiti...

Ngày tải lên: 22/03/2014, 23:20