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Displaying results 1 to 13 of 13.

  1. Productivity and welfare
    an application to the Spanish banking industry
    Author: Martín Oliver, Alfredo; Ruano, Sonia; Salas-Fumás, Vicente
    Published: 2014
    Publisher:  Banco de España, Madrid

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Volltext (kostenfrei)
    Volltext (kostenfrei)
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documentos de trabajo / Banco de España, Eurosistema ; no. 1426
    Subjects: banking spatial competition; bank branch productivity; interest rates; branch dynamics; bank economic profits
    Scope: 1 Online-Ressource (circa 43 Seiten), Illustrationen
    Notes:

    Zusammenfassung in spanischer Sprache
  2. Forecasting multivariate time series under present-value-model short- and long-run co-movement restrictions
    Author: Guillén, Osmani Teixeira de Carvalho; Hecq, Alain W. J.; Issler, João Victor; Saraiva, Diogo
    Published: maio de 2014
    Publisher:  Escola de Pós-Graduação em Economia da Fundação Getulio Vargas, Rio de Janeiro

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 351 (753)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10438/11806
    Series: Ensaios econômicos ; no 753
    Subjects: forecasting; multivariate models; vector autoregression (VAR); present-value restrictions; common cycles; cointegration; interest rates; prices and dividends
    Scope: 1 Online-Ressource (circa 47 Seiten)
  3. Can low interest rates be harmful
    an assessment of the bank risk-taking channel in Asia
    Author: Ramayandi, Arief; Rawat, Umang; Hsiao Chink Tang
    Published: 2014
    Publisher:  Asian Development Bank, Mandaluyong City

    Events surrounding the global financial crisis have brought to light the potential role of monetary policy in precipitating the crisis. Numerous studies on advanced economies have documented a significant negative relationship between interest rates... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Keine Speicherung
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    Events surrounding the global financial crisis have brought to light the potential role of monetary policy in precipitating the crisis. Numerous studies on advanced economies have documented a significant negative relationship between interest rates and bank risk-taking. This paper also finds the presence of the risk-taking channel based on a panel of publicly listed bank data in Asia. Using both annual and quarterly data, "too low" interest rates are found to lead to an increase in bank risk-taking.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: ADB working paper series on regional economic integration ; 123
    Subjects: Geldpolitik; Realzins; Bankrisiko; Theorie; Bank risk-taking; interest rates; panel data; monetary policy; Asian banks
    Scope: Online-Ressource (52 S.)
  4. Taxing banks
    an evaluation of the German bank levy
    Author: Buch, Claudia M.; Hilberg, Björn; Tonzer, Lena
    Published: 2014
    Publisher:  Dt. Bundesbank, Frankfurt am Main

    Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and for public finances. Regimes for the restructuring and resolution of banks, financed by bank levies and fiscal backstops, seek to... more

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 12 (2014,38)
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    Location:
    Universitätsbibliothek Osnabrück
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    Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and for public finances. Regimes for the restructuring and resolution of banks, financed by bank levies and fiscal backstops, seek to reduce these costs. Bank levies attempt to internalize systemic risk and to increase the costs of leverage. This paper evaluates the effects of the German bank levy implemented in 2011 as part of the German Bank Restructuring Act. Our analysis offers three main insights. First, revenues raised through the bank levy are lower than expected, because of low tax rates and high thresholds for tax exemptions. Second, the bulk of the payments were contributed by large commercial banks and by the central institutions of savings banks and credit unions. Third, for the banks affected by the levy, we find evidence for a reduction in lending and higher deposit rates.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9783957290953
    Other identifier:
    hdl: 10419/106176
    Series: Discussion paper / Deutsche Bundesbank ; 38/2014
    Subjects: Bank levy; bank lending; interest rates; German banks
    Scope: Online-Ressource (36, [3] S.), graph. Darst.
  5. The behavior of aggregate corporate investment
    Author: Kothari, S. P.; Lewellen, Jonathan; Warner, Jerold B.
    Published: 2014
    Publisher:  Simon Graduate School of Business, Univ. of Rochester, Rochester, NY

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Speicherung
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Edition: This version: August 2014
    Series: Simon School of Business working paper series ; 14-18
    Subjects: Investment; stock returns; profits; interest rates; uncertainty
    Scope: Online-Ressource (39 S.), graph. Darst.
  6. Determinants of OECD countries’ sovereign yields
    safe havens, purgatory, and the damned
    Author: Bortoli, Clément; Harreau, Louis; Pouvelle, Cyril
    Published: 2014
    Publisher:  Banque de France, Paris

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Nicht speichern
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Document de travail / Banque de France ; 494
    Subjects: interest rates; sovereign spreads; public debt; panel data
    Scope: Online-Ressource (38 S.), graph. Darst.
    Notes:

    Zsfassung in franz. Sprache
  7. Trust us to repay
    social trust, long-term interest rates and sovereign credit rating
    Author: Bergh, Andreas; Bjørnskov, Christian
    Published: 2014
    Publisher:  Research Inst. of Industrial Economics, Stockholm

    This paper asks whether the sensitivity of market long-term interest rates and credit ratings is associated with cross-country differences in informal institutions, measured by social trust. We note a number of theoretical mechanisms that could imply... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 206 (1039)
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    This paper asks whether the sensitivity of market long-term interest rates and credit ratings is associated with cross-country differences in informal institutions, measured by social trust. We note a number of theoretical mechanisms that could imply that similar objective problems are more likely to be effectively dealt with in higher-trust societies. A set of panel estimates across middle and high-income countries reveal that interest rates and ratings are substantially more sensitive to inflation and growth problems in low-trust countries. This finding sheds light on the differential market reactions to economic problems in seemingly comparable countries.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/109107
    Series: IFN working paper ; 1039
    Subjects: Trust; credit ratings; interest rates; economic reforms
    Scope: Online-Ressource (35 S.), graph. Darst.
  8. Reconstructing the savings glut
    the global implications of Asian excess saving
    Author: Arora, Vipin; Tyers, Rodney; Zhang, Ying
    Published: 2014
    Publisher:  Univ. of Western Australia, Economics, [Crawley, WA]

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 31 (2014,24)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: Discussion paper / The University of Western Australia, Business School, Economics ; 14.24
    Subjects: Sparen; Sparquote; Japan; China; savings glut; China and Japan; interest rates; unconventional monetary policy
    Scope: 42 S., graph. Darst.
    Notes:

    Parallel als Online-Ausg. erschienen
  9. Discounting the distant future
    Published: 2014
    Publisher:  Cowles Foundation for Research in Economics, Yale Univ., New Haven, Conn.

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 29 (1951)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Cowles Foundation discussion paper ; 1951
    Subjects: Discounting; environment; interest rates; inflation; Ornstein-Uhlenbeck process
    Scope: Online-Ressource (32 S.), graph. Darst.
  10. Reconstructing the savings glut
    the global implications of Asian excess saving
    Author: Arora, Vipin; Tyers, Rodney; Zhang, Ying
    Published: 2014
    Publisher:  Centre for Applied Macroeconomic Analysis, The Australian National Univ., Canberra

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Speicherung
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CAMA working paper series ; 2014,20
    Subjects: Sparen; Sparquote; Japan; China; savings glut; China and Japan; interest rates; unconventional monetary policy
    Scope: Online-Ressource (40 S.)
  11. Taxing banks
    an evaluation of the German bank levy
    Author: Buch, Claudia M.; Hilberg, Björn; Tonzer, Lena
    Published: 2014
    Publisher:  CESifo, München

    Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and public finances. Regimes for restructuring and restoring banks financed by bank levies and fiscal backstops seek to reduce these... more

    Location:
    Staats- und Universitätsbibliothek Bremen
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    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63 (4704)
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    Bank distress can have severe negative consequences for the stability of the financial system, the real economy, and public finances. Regimes for restructuring and restoring banks financed by bank levies and fiscal backstops seek to reduce these costs. Bank levies attempt to internalize systemic risk and increase the costs of leverage. This paper evaluates the effects of the German bank levy implemented in 2011 as part of the German bank restructuring law. Our analysis offers three main insights. First, revenues raised through the bank levy are minimal, because of low tax rates and high thresholds for tax exemptions. Second, the bulk of the payments were contributed by large commercial banks and the head institutes of savings banks and credit unions. Third, the levy had no effect on the volume of loans or interest rates for the average German bank. For the banks affected most by the levy, we find evidence of fewer loans, higher lending rates, and lower deposit rates.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/96873
    Series: Array ; 4704
    Subjects: bank levy; bank lending; interest rates; German banks
    Scope: Online-Ressource (45 S.)
  12. Has house price growth in Canadian cities been excessive?
    Author: Head, Allen; Lloyd-Ellis, Huw
    Published: 2014
    Publisher:  Queen's Economics Dep., Queen's Univ., Kingston, Ont.

    The dramatic rise in Canada's average house price to average rent ratio has induced some commentators to argue that a speculative bubble is under way the collapse of which will have a calamitous effect on the economy. Others have argued, however,... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 216 (1331)
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    The dramatic rise in Canada's average house price to average rent ratio has induced some commentators to argue that a speculative bubble is under way the collapse of which will have a calamitous effect on the economy. Others have argued, however, that the currently high level of house prices may be rationalized by the low cost of financing, given the decline in interest rates over the last two decades. In this article, we assess these arguments through the lens of a simple asset pricing model applied to city-level data. We quantify the etxent to which excess growth in Canadian house prices depends on the nature of the current regime governing real interest rates, expections of rent growth in different cities and variations in property taxes.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/122032
    Series: Queen's Economics Department working paper ; 1331
    Subjects: House prices; interest rates
    Scope: Online-Ressource (26 S.), graph. Darst.
  13. Low real rates as driver of secular stagnation
    empirical assessment
    Author: End, Jan-Willem van den; Hoeberichts, Marco
    Published: 2014
    Publisher:  DNB, Amsterdam

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 1612 (444)
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    Series: DNB working paper ; 444
    Subjects: interest rates; financial markets and the macroeconomy; monetary policy
    Scope: 15 S., graph. Darst.