Financial Structure and Its Impact on the Convergence of Interest Rate Pass-through in Europe
Author: Wolfgang Schwarzbauer
Publisher: CEPS
Published: 2006
Total Pages: 42
ISBN-13: 929079691X
DOWNLOAD EBOOK →Lanterna Rally
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Economic Convergence in the Euro Area: Coming Together or Drifting Apart?
Author: Mr.Jeffrey R. Franks
Publisher: International Monetary Fund
Published: 2018-01-23
Total Pages: 47
ISBN-13: 1484338499
DOWNLOAD EBOOK →We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Effects of Bank Capital on Lending
Author: Joseph M. Berrospide
Publisher: DIANE Publishing
Published: 2011-04
Total Pages: 50
ISBN-13: 1437939864
DOWNLOAD EBOOK →The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. The authors use panel-regression techniques to study the lending of large bank holding companies (BHCs) and find small effects of capital on lending. They then consider the effect of capital ratios on lending using a variant of Lown and Morgan's VAR model, and again find modest effects of bank capital ratio changes on lending. The authors¿ estimated models are then used to understand recent developments in bank lending and, in particular, to consider the role of TARP-related capital injections in affecting these developments. Illus. A print on demand pub.
The Transformation of the European Financial System
Author: Vitor Gaspar
Publisher:
Published: 2003-01-01
Total Pages: 334
ISBN-13: 9789291813483
DOWNLOAD EBOOK →External Imbalances in the Euro Area
Author: Ms.Ruo Chen
Publisher: International Monetary Fund
Published: 2012-10-09
Total Pages: 76
ISBN-13: 1475512120
DOWNLOAD EBOOK →The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area factors and to external trade shocks. We argue that the traditional explanations for the rising imbalances are correct, but are incomplete. We uncover a large impact of declines in export competitiveness and asymmetric trade developments vis-à-vis the rest of the world –in particular vis-à-vis China, Central and Eastern Europe, and oil exporters- on the external balance of euro area debtor countries. While current account imbalances of euro area deficit countries vis-à-vis the rest of the world increased, they were financed mostly by intra-euro area capital inflows (in particular by the purchase of government and financial institutions’ securities, and cross-border interbank lending) which permitted external imbalances to grow over time.
Report on Financial Structures
Estimating the Costs of Financial Regulation
Author: Mr.Andre Santos
Publisher: International Monetary Fund
Published: 2012-09-11
Total Pages: 43
ISBN-13: 147551008X
DOWNLOAD EBOOK →Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Dealing with the Challenges of Macro Financial Linkages in Emerging Markets
Author: Otaviano Canuto
Publisher: World Bank Publications
Published: 2013-10-29
Total Pages: 307
ISBN-13: 1464800030
DOWNLOAD EBOOK →This book deals with the challenges of macro financial linkages in the emerging markets.
International Macroeconomics in the Wake of the Global Financial Crisis
Author: Laurent Ferrara
Publisher: Springer
Published: 2018-06-13
Total Pages: 298
ISBN-13: 3319790757
DOWNLOAD EBOOK →This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Correspondent Central Banking Model (CCBM)
