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Displaying results 1 to 14 of 14.

  1. "Financial intermediation, capital accumulation and crisis recovery"
    Author: Gersbach, Hans; Rochet, Jean-Charles; Scheffel, Martin
    Published: [2018]
    Publisher:  IDEI, Institut d'économie industrielle, [Toulouse]

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers / IDEI, Institut d'économie industrielle ; no IDEI-881 (January 2018)
    Subjects: Financial intermediation; capital accumulation; banking crisis; macroeconomic shocks; business cycles; bust-boom cycles; managing recoveries
    Scope: 1 Online-Ressource (circa 63 Seiten), Illustrationen
  2. Bank competition and household privacy in a digital payment monopoly
    Author: Agur, Itai; Ari, Anil; Dell'Ariccia, Giovanni
    Published: 11 July 2023
    Publisher:  Centre for Economic Policy Research, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18288
    Subjects: Privacy; Financial intermediation; BigTech; Data regulation
    Scope: 1 Online-Ressource (circa 70 Seiten), Illustrationen
  3. Sectoral comovement, monetary policy and the credit channel
    Author: Di Pace, Federico; Görtz, Christoph
    Published: June 2021
    Publisher:  Bank of England, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Staff working paper / Bank of England ; no. 925
    Subjects: Financial intermediation; sectoral comovement; monetary policy; financial frictions; credit spreads
    Scope: 1 Online-Ressource (circa 39 Seiten)
  4. Discovering the true Schumpeter
    new insights into the finance and growth nexus
    Author: Bofinger, Peter; Geißendörfer, Lisa; Haas, Thomas; Mayer, Fabian
    Published: May, 2022
    Publisher:  University of Würzburg, Department of Economics, Würzburg

    Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ’patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to... more

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    Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ’patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical results and difficulties in explaining even fundamental relationships. We argue that this is due to a misrepresentation of the role of banks and liquidity creation and the role of household saving. After a critical discussion of the literature, we provide our own empirical analysis using a panel of 43 countries to explore the relationships between the important variables of the finance and growth literature. Our empirical analysis above all supports Schumpeter’s view that credit growth supports GDP growth while saving is irrelevant for credit growth and GDP growth. In sum, a correct interpretation of Schumpeter helps to overcome the theoretical and empirical challenges which confront the prevailing literature

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/259799
    Series: Würzburg economic papers ; no. 102
    Subjects: Finance-growth nexus; Finance; Financial development; Economic growth; Economic development; Financial intermediation; Bank credit; Liquidity creation; Saving
    Scope: 1 Online-Ressource (circa 76 Seiten), Illustrationen
  5. On the solution of games with arbitrary payoffs
    an application to an over-the- counter financial market
    Author: Kollias, Iraklis; Leventides, John; Papavassiliou, Vassilios G.
    Published: [2023]
    Publisher:  Geary Institute, University College Dublin, [Dublin]

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: UCD Geary Institute for Public Policy discussion paper series ; Geary WP2023, 02 (January 05, 2023)
    Subjects: Game theory; Soft set theory; Nash equilibrium; Cooperative bargaining games; Over-the-counter financial markets; Financial intermediation
    Scope: 1 Online-Ressource (circa 43 Seiten)
  6. Margins, debt capacity, and systemic risk
    Author: Aramonte, Sirio; Schrimpf, Andreas; Shin, Hyun Song
    Published: 03 November 2023
    Publisher:  Centre for Economic Policy Research, London

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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18570
    Subjects: Financial intermediation; Non-banks; Market-based finance; Market liquidity; Systemicrisk
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen
  7. Oligopoly banking, risky investment, and monetary policy
    Author: Altermatt, Lukas; Wang, Zijian
    Published: [2021]
    Publisher:  [University of Essex, Department of Economics], [Colchester]

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Economics discussion papers / University of Essex, Department of Economics
    Subjects: Oligopoly competition; Risky investment; Financial intermediation; Monetary policy
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  8. Spatial disparity of skill premium in China
    the role of financial intermediation development
    Author: Lai, Tat-kei; Wang, Luhang
    Published: 13 July 2022
    Publisher:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    In China, the relative wages of high-skilled and low-skilled workers display huge variation across different regions. We examine whether financial intermediation development can explain such variation. Conceptually, better-developed financial... more

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    In China, the relative wages of high-skilled and low-skilled workers display huge variation across different regions. We examine whether financial intermediation development can explain such variation. Conceptually, better-developed financial intermediation helps financially-constrained firms raise new capital, which is usually skilledbiased, resulting in an increased demand for skilled labor and skill premium. Using a cross-section of workers from the 1% Population Survey of 2005, we find consistent evidence; besides, the relationship is stronger among workers in industries with higher capital-skill complementarity and in non-state-owned enterprises. Overall, our results suggest that the financial market plays a role in explaining skill premium in China.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523234130
    Other identifier:
    hdl: 10419/261483
    Series: BOFIT discussion papers ; 2022, 6
    Subjects: Financial intermediation; Misallocation; Skill premium; China
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  9. Firm subsidies, financial intermediation, and bank stability
    Author: Kazakov, Aleksandr; Koetter, Michael; Titze, Mirko; Tonzer, Lena
    Published: [2022]
    Publisher:  Tinbergen Institute, Amsterdam, The Netherlands

    We use project-level information for the largest regional economic development program in German history to study whether government subsidies to firms affect quantity and quality of bank lending. We combine recipient firms under the Improvement of... more

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    We use project-level information for the largest regional economic development program in German history to study whether government subsidies to firms affect quantity and quality of bank lending. We combine recipient firms under the Improvement of Regional Economic Structures program (GRW) with their local banks during 1998-2019. The modalities of GRW subsidies to firms are determined at the EU level. Therefore, we use it to identify bank outcomes. Banks with relationships to more subsidized firms exhibit higher lending volumes without any significant differences in bank stability. Subsidized firms, in turn, borrow more indicating that banks facilitate regional economic development policies.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/273791
    Series: Array ; TI 2022, 078
    Subjects: Government subsidies; Financial intermediation; Bank stability
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  10. Financial de-dollarization in Argentina
    when the wind always blows from the East
    Author: Corso, Eduardo Ariel; Sangiácomo, Máximo
    Published: January 2023
    Publisher:  ie, BCRA, Investigaciones Económicas, Ciudad Autónoma de Buenos Aires, Argentina

    Dollarization hinders financial intermediation in domestic currency which is detrimental for economic growth and development. A broad branch of the financial dollarization literature is based on portfolio theory. Dollarization of savings portfolios... more

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    Dollarization hinders financial intermediation in domestic currency which is detrimental for economic growth and development. A broad branch of the financial dollarization literature is based on portfolio theory. Dollarization of savings portfolios is the result of optimal mean-variance portfolio selection. In this document, we use an optimal portfolio selection approach to analyse financial dollarization's hysteresis in Argentina. Based on the historical experience of our country, we model agents' expectations using second-order probability distributions, that allow us to incorporate positive bias in subjective distribution of dollar returns. This bias arises from the subjective perceptions of unsustainability of the current regime. Under the proposed analytical scheme, in contexts in which households and firms face difficulties in identifying informative signals about the sustainability of the current exchange-rate regime, policy measures aimed at promoting financial de-dollarization may produce unwanted behavior. For example, the usually stated mean-variance approach argument of rising real exchange rate volatility relative to domestic currency volatility (inflation) could be perceived as an increase in the subjective probability of regime change, leading to portfolio rebalancing towards the foreign currency, with opposite results to those expected.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Economic research working papers / ie, BCRA, Investigaciones Económicas ; n 106 (2023)
    Subjects: Dollarization; Asset substitution; Financial intermediation
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  11. Customer liquidity provision
    implications for corporate bond transaction costs
    Author: Choi, Jaewon; Huh, Yesol
    Published: October 2017
    Publisher:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

    The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to non-dealers (customers) and calculate average bid-ask spreads that customers pay dealers. We show that customers often provide... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    The convention in calculating trading costs in corporate bond markets is to assume that dealers provide liquidity to non-dealers (customers) and calculate average bid-ask spreads that customers pay dealers. We show that customers often provide liquidity in corporate bond markets, and thus, average bid-ask spreads underestimate trading costs that customers demanding liquidity pay. Compared with periods before the 2008 financial crisis, substantial amounts of liquidity provision have moved from the dealer sector to the non-dealer sector, consistent with decreased dealer risk capacity. Among trades where customers are demanding liquidity, we find that these trades pay 35 to 50 percent higher spreads than before the crisis. Our results indicate that liquidity decreased in corporate bond markets and can help explain why despite the decrease in dealers' risk capacity, average bid-ask spread estimates remain low

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Current draft: October 2017
    Series: Finance and economics discussion series ; 2017, 116
    FEDS Working Paper ; No. 2017-116
    Subjects: Bank regulation; Liquidity; corporate bonds; Financial intermediation; Volcker rule
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  12. Deposit insurance and brokerage firms: impacts on the market discipline of the Brazilian banking industry
    Author: Ohlson, Marília Pinheiro; Lima, Gerlando A. S. Franco de; Takeda, Tony
    Published: [2021]
    Publisher:  Banco Central do Brasil, Brasília, DF, Brazil

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    Series: Working paper series / Banco Central do Brasil ; 542 (January 2021)
    Subjects: Market Discipline; Banking supervision; Financial intermediation; Depositinsurance; Brokerage Firms
    Scope: 1 Online-Ressource (circa 48 Seiten)
  13. Size, charter value and risk in banking
    an international perspective
    Author: De Nicolò, Gianni
    Published: 2000
    Publisher:  Board of Governors of the Federal Reserve System, Washington, DC

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    W 132 (689)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: International finance discussion papers ; 689
    Subjects: Bank; Betriebsgröße; Bankinsolvenz; Risiko; Schätzung; Industrieländer; Bank failures; Economies of scale; Financial intermediation
    Scope: 44 S, graph. Darst
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  14. Enough liquidity with enough capital
    and vice versa?
    Author: Gersbach, Hans; Haller, Hans; Zelzner, Sebastian
    Published: 14 May 2024
    Publisher:  Centre for Economic Policy Research, London

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP19072
    Subjects: Financial intermediation; Funding risk; Bank default; Banking regulation; Liquidityrequirements; Capital requirements
    Scope: 1 Online-Ressource (circa 55 Seiten), Illustrationen