Results 1 to 10 of about 75,127 (42)
Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis
The Review of Corporate Finance Studies, 2020 In March 2020, banks faced the largest increase in liquidity demands ever observed. Firms drew funds on a massive scale from preexisting credit lines in anticipation of cash flow and financial disruptions stemming from the advent of the COVID-19 crisis ...
Lei Li, Philip E. Strahan, Song Zhang
semanticscholar +1 more source
Stacking up the Benefits: Lessons from India’s Digital Journey
IMF Working Papers, 2023 Foundational digital public infrastructure (DPI), consisting of unique digital identification, payments system and data exchange layer has the potential to support the transformation of the economy and support inclusive growth.
Emine Hanedar +5 more
semanticscholar +1 more source
Carbon Taxes and the Geography of Fossil Lending
Social Science Research Network, 2023 Using data on syndicated loans, we find t hat t he i ntroduction o f a c arbon t ax is associated with an increase in domestic banks’ lending to coal, oil, and gas companies in foreign countries.
L. Laeven, A. Popov
semanticscholar +1 more source
Financial Factors in Economic Fluctuations
Social Science Research Network, 2010 We augment a standard monetary DSGE model to include a banking sector and financial markets. We fit the model to Euro Area and US data. We find that agency problems in financial contracts, liquidity constraints facing banks and shocks that alter the ...
Lawrence J. Christiano +2 more
semanticscholar +1 more source
Systemic Risk and Stability in Financial Networks
, 2013 This paper argues that the extent of financial contagion exhibits a form of phase transition: as long as the magnitude of negative shocks affecting financial institutions are sufficiently small, a more densely connected financial network (corresponding ...
Daron Acemoglu +2 more
semanticscholar +1 more source
The Nexus of Monetary Policy and Shadow Banking in China
The American Economic Review, 2017 We study how monetary policy in China influences banks’ shadow banking activities. We develop and estimate the endogenously switching monetary policy rule that is based on institutional facts and at the same time tractable in the spirit of Taylor (1993).
Kaiji Chen, Jue Ren, T. Zha
semanticscholar +1 more source
New Evidence on Redlining by Federal Housing Programs in the 1930s
Social Science Research Network, 2021 We show that the Federal Housing Administration (FHA), from its inception in the 1930s, did not insure mortgages in low income urban neighborhoods where the vast majority of urban Black Americans lived.
P. Fishback +3 more
semanticscholar +1 more source
Are Credit Markets Still Local? Evidence from Bank Branch Closings
American Economic Journal: Applied Economics, 2019 This paper studies whether distance shapes credit allocation by estimating the impact of bank branch closings during the 2000s on local access to credit. To generate plausibly exogenous variation in the incidence of closings, I use an instrument based on
Hoai-Luu Q. Nguyen
semanticscholar +1 more source
The Economics of Central Bank Digital Currency
Social Science Research Network, 2022 This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications
Toni Ahnert +5 more
semanticscholar +1 more source
The Effects of the 1930s HOLC 'Redlining' Maps
American Economic Journal: Economic Policy, 2017 This study uses a boundary design and propensity score methods to study the effects of the 1930s-era Home Owners Loan Corporation (HOLC) “redlining” maps on the long-run trajectories of urban neighborhoods.
Daniel Aaronson, D. Hartley, B. Mazumder
semanticscholar +1 more source