Author: Fulvia FringuellottiPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Three Essays on Bank Lending
Author: Fulvia FringuellottiThree Essays on Bank Lending, Liquidity, and the Macroeconomy
Author: Torsten EhlersThree Essays on the Bank Lending Channel
Author: Luka BajecThree Essays on Intermediary Lending
Author: Xiaohong WangPublisher:
ISBN:
Category :
Languages : en
Pages : 167
Book Description
In the third part of the study, I examine how shocks to banks' financial conditions impact corporate financing and investment decisions during the 2007-2009 financial crisis. I find that average firms relied more heavily on bank credit during the crisis. However, firms whose banks incurred more nonperforming loans used less bank credit when comparing their bank debt before and during the crisis. The reduction on bank debt weren't replaced by alternative financing such as public debt or trade credit. There is some evidence that shocks on banks eventually affected corporate real activities; firms with more adversely affected banks invested less and hoarded more cash during the crisis compared to their pre-crisis level. Overall, my results suggest that adverse shocks on the banking system can curtail bank lending and negatively affect the real sector.
Three Essays on Bank Profitability, Fragility, and Lending
Author: Mahmoud ShahinThree Essays on the Theory of Banking
Author: Sarah Blaine KendallPublisher:
ISBN:
Category :
Languages : en
Pages : 374
Book Description
A Theoretical and Empirical Investigation Into Bank Lending Abroad
Author: Anoop RaiPublisher:
ISBN:
Category : Bank loans
Languages : en
Pages : 222
Book Description
Three Essays on Banking and Loan Financing
Author: Chen HuaThree Essays in Lending
Author: Three Essays on Monetary Policy Transmission and Banking Crises
Author: Dongping XiePublisher:
ISBN: 9780355883299
Category : Banks and banking
Languages : en
Pages : 149
Book Description
This dissertation aims to increase understanding of financial fragility and to support good responses by monetary policymakers. It is composed of three essays. Chapter 2 studies how the supply of bank loans affected balance sheets and bankruptcies of businesses under various regulatory structures in the early twentieth century. I find that a contraction in the supply of bank loans deteriorated businesses' balance sheets. As a result, courts saw more bankruptcies among businesses with high exposure to bank debt. Tight bank credit also reduced trade credit extended among businesses. I also show that the Glass-Steagall Act mitigated the impact of bank loans on businesses. Chapter 3, co-authored with Alan G. Isaac, develops a network model of financial contagion and demonstrates with agent-based simulations that the interactions between banks and firms can generate and propagate financial fragility and business cycles. We also show that timely monetary policy intervention has effects on both financial and economic stabilization. Active use of discount window proves a useful response to idiosyncratic shocks, but intervention in the repo market is more powerful against cyclical fluctuations. Chapter 4 uses an event study approach to examine how Fed's credit easing policy in the recent crisis affected different sectors. I show that, early on, emergency lending programs only benefited financial firms, while quantitative easing improved the fundamentals of all firms, although the financial sector still benefited more than other sectors.