Specialty Conference

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Specialty Conference

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Jan 2017

Prudential policies and their impact on credit in the United States

Seung Jung LEE, Paul CALEM, Ricardo CORREA
We analyze how two types of recently used prudential policies affected the supply of credit in the United States. First, we test whether the U.S. bank stress tests had any impact on the supply of mortgage credit. We find that initiation of the Comprehensive Capital Analysis and Review (CCAR) stress ...
Keywords: Bank stress tests, Jumbo mortgages, Leveraged lending, Macroprudential Policy, Syndicated loan market
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Annual Conference

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Specialty Conference

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May 2021

Perceived Precautionary Savings Motives: Evidence from FinTech

Michael WEBER, Francesco DACUNTO, Thomas RAUTER, Christoph SCHEUCH
We study the spending response of first-time borrowers to an overdraft facility and elicit their preferences, beliefs, and motives through a FinTech application. Users increase their spending permanently, lower their savings rate, and reallocate spending from non-discretionary to discretionary goods...
Keywords: Digital Footprint, Beliefs, Bank Credit, Household Finance, Behavioral finance
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Specialty Conference

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Specialty Conference

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Jan 2017

Mortgage Lending, Banking Crises and Financial Stability in Asia

Peter J. MORGAN, Yan ZHANG
Our paper investigates the relationship between financial stability and mortgage lending. We estimated the effect of the share of mortgage lending by individual banks (together with some control variables) on two measures of financial stability—the bank Z-score and the non-performing loan ratio—...
Keywords: Financial stability, mortgage lending, non-performing loans
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Specialty Conference

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Specialty Conference

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Jan 2017

Macroprudential Policies, Capital Flows, and the Structure of the Banking Sector

John BEIRNE, Christian FRIEDRICH
Using a large sample of advanced and emerging market economies over the period 1999–2012, we examine the effectiveness of macroprudential policies (MPPs) in managing cross-border bank flows. Conditioning on the structure of the banking sector in the MPP-implementing country, we find that higher re...
Keywords: Macroprudential policies, International capital flows, Banking sector
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Specialty Conference

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Specialty Conference

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Nov 2018

Lessons for Cryptocurrencies from Foreign Exchange Markets

Charles ENGEL
This essay brings insights from the academic literature on foreign exchange rate determination to the analysis of cryptocurrency markets. We present a simple framework to summarize the factors that determine exchange rates. To the extent that cryptocurrencies are like national currencies issued by c...
Keywords: Foreign exchange, cryptocurrency, money, digital currencies, policy
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