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  1. Sovereign risk and bank lending
    theory and evidence from a natural disaster
    Autor*in: Başkaya, Yusuf Soner; Hardy, Bryan; Kalemli-Ozcan, Sebnem; Yue, Vivian Z.
    Erschienen: [2023]
    Verlag:  Federal Reserve Bank of Atlanta, Atlanta, GA

    We quantify the sovereign-bank doom loop by using the 1999 Marmara earthquake as an exogenous shock leading to an increase in Turkey's default risk. Our theoretical model illustrates that for banks with higher exposure to government securities, a... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 253
    Fernleihe:
    keine Fernleihe

     

    We quantify the sovereign-bank doom loop by using the 1999 Marmara earthquake as an exogenous shock leading to an increase in Turkey's default risk. Our theoretical model illustrates that for banks with higher exposure to government securities, a higher sovereign default risk implies lower net worth and tightening financial constraint. Our empirical estimates confirm the model's predictions, showing that the exogenous change in sovereign default risk tightens banks' financial constraints significantly for banks that hold a higher amount of government securities. The resulting tighter bank financial constraints translate into lower credit provision, suggesting that there is a significant balance-sheet channel in transmitting a higher sovereign default risk toward real economic activity.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279456
    Schriftenreihe: Working paper series / Federal Reserve Bank of Atlanta ; 2023, 1 (February 2023)
    Schlagworte: banking crisis; bank balance sheets; lending channel; public debt; credit supply
    Umfang: 1 Online-Ressource (circa 58 Seiten)
  2. Sovereign risk and bank lending
    evidence from 1999 Turkish earthquake
    Autor*in: Başkaya, Yusuf Soner; Hardy, Bryan; Kalemli-Ozcan, Sebnem; Yue, Vivian Z.
    Erschienen: April 2023
    Verlag:  Bank for International Settlements, Monetary and Economic Department, [Basel]

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 546
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: BIS working papers ; no 1093
    Schlagworte: banking crisis; bank balance sheets; lending channel; public debt; credit supply; sovereign-bank nexus
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen