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738 results, from 531
Diskussionspapiere 1346 / 2013

Granularity in Banking and Growth: Does Financial Openness Matter?

We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can affect macroeconomic outcomes. Financial openness may affect GDP growth in and of itself, and it may also influence ...

2013| Franziska Bremus, Claudia M. Buch
Diskussionspapiere 1343 / 2013

Capital Controls and Macroprudential Measures: What Are They Good For?

Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding to changes in variables that the CFMs are intended to influence. This paper addresses these challenges by ...

2013| Kristin Forbes, Marcel Fratzscher, Roland Straub
Diskussionspapiere 1348 / 2013

Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity

Does the mere presence of big banks affect macroeconomic outcomes? In this paper, we develop a theory of granularity (Gabaix, 2011) for the banking sector, introducing Bertrand competition and heterogeneous banks charging variable markups. Using this framework, we show conditions under which idiosyncratic shocks to bank lending can generate aggregate fluctuations in the credit supply when the banking ...

2013| Franziska Bremus, Claudia M. Buch, Katheryn N. Russ, Monika Schnitzer
Diskussionspapiere 1344 / 2013

Cross-Border Banking, Bank Market Structures and Market Power: Theory and Cross-Country Evidence

Patterns in cross-border banking have changed since the global financial crisis. This may affect domestic bank market structures and macroeconomic stability in the longer term. In this study, I theoretically and empirically analyze how different modes of cross-border banking impact bank concentration. I use a two- country general equilibrium model with heterogeneous banks developed by De Blas and Russ ...

2013| Franziska Bremus
Diskussionspapiere 1349 / 2013

What Influences Banks' Choice of Risk Management Tools? Theory and Evidence

This paper investigates the factors influencing banks' decision to engage in advanced risk management, from both a theoretical and an empirical perspective. In recent decades, credit risk management in banks has become highly sophisticated and banks have become more active and advanced in the management of credit risks. We identify two driving factors for risk management: bank competition and sector ...

2013| Dilek Bülbül, Hendrik Hakenes, Claudia Lambert
Zeitungs- und Blogbeiträge

Big Banks and Macroeconomic Outcomes

In: VoxEU.org (10.07.2013), [Online-Artikel] | Franziska Bremus, Claudia M. Buch, Katheryn N. Russ, Monika Schnitzer
Diskussionspapiere 1266 / 2013

Religious Heterogeneity and Fiscal Policy: Evidence from German Reunification

Theoretical work based on social identity theory and in-group favoritism predicts that increased population diversity (e.g., due to immigration) reduces support for redistributive public policies. In this article, we add to the empirical literature testing this prediction in three ways. First, rather than ethno-linguistic or racial heterogeneity, we analyze religious diversity, which in many countries ...

2013| Ronny Freier, Benny Geys, Joshua Holm
Diskussionspapiere 1309 / 2013

Bank Lending Procyclicality and Credit Quality during Financial Crises

This paper analyses macroeconomic and financial determinants of bad loans applying a SVAR approach to investigate whether excessive loans granted during expansionary phases can explain the more than proportional increase in non-performing loans during contractionary periods. The results indicate that the effects of a permanent shock to bad loans on the excess of credit are significant and persistent ...

2013| Guglielmo Maria Caporale, Stefano Di Colli, Juan Sergio Lopez
Diskussionspapiere 1289 / 2013

On the Linkages between Stock Prices and Exchange Rates: Evidence from the Banking Crisis of 2007-2010

This study examines the nature of the linkages between stock market prices and exchange rates in six advanced economies, namely the US, the UK, Canada, Japan, the euro area, and Switzerland, using data on the banking crisis between 2007 and 2010. Bivariate GARCH-BEKK models are estimated producing evidence of unidirectional spillovers from stock returns to exchange rate changes in the US and the UK, ...

2013| Guglielmo Maria Caporale, John Hunter, Faek Menla Ali
DIW Economic Bulletin 4 / 2013

Sustainable Financial Markets: Financial Transaction Tax and High Capital Buffers Indispensable

The sustainability of the financial markets is a requirement that has only appeared on the economic policy agenda very recently, whereas a stable financial system has been a declared goal for decades. The relationship between sustainability and stability is, however, still unclear. The two terms are often used synonymously but stability is only one part of sustainability. The following outlines the ...

2013| Dorothea Schäfer
738 results, from 531
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