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Browsing Informes (Departament d'Economia i Empresa) by Issue Date

Browsing Informes (Departament d'Economia i Empresa) by Issue Date

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  • Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, José-Luis (2010-06)
    Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using ...
  • Maddaloni, Angela; Peydró, José-Luis (2010-10)
    Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short-term interest rates soften standards, for household and corporate loans. This softening – especially for ...
  • Peydró, José-Luis (2013)
  • Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis (2013-03)
    The Euro area economic activity and banking sector have shown substantial fragility over the last years with remarkable country heterogeneity. Using detailed data on lending conditions and standards, we analyse how financial ...
  • Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis (2014-06)
    Credit supply and demand changes are mostly unobserved, thus identifying completely the transmission of monetary policy through the credit channel is unfeasible. Bank lending surveys by central banks, however, contain ...
  • Inoue, Atsushi; Kuo, Chun-Hung; Rossi, Barbara, 1971- (Centre for Economic Policy Research, 2014-09)
    In this paper we propose empirical methods for detecting and identifying misspecifications in DSGE models. We introduce wedges in a DSGE model and identify potential misspecification via forecast error variance decomposition ...
  • Jiménez, Gabriel; Ongena, Steven; Peydró, José-Luis; Saurina, Jesús (2017)
    We analyze the impact of balance-sheet strength on credit availability. Bank balance sheets are weak in crisis times, but so are those of firms, and credit demand is then also weak. For identification, we exploit an ...
  • Ortún Rubio, Vicente; Serra Burriel, Miquel; Manganelli, Anton-Giulio (2017-04-04)
    Background: The Results Centre (CdR) of the Integrated Public Use Healthcare System of Catalonia (SISCAT) is a comprehensive network of public information about healthcare utilization and results at all levels. The aim ...
  • Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; Peydró, José-Luis (2018)
    We analyze how international financial integration is affected by the recent financial and sovereign crises, exploiting euro-area proprietary interbank data, crisis and monetary shocks, and loan terms to the same borrower ...
  • Botsch, Matthew; Vanasco, Victoria (2018-03-09)
    This paper studies bank learning through repeated interactions with borrowers from a new per-spective. To understand learning by lending, we adapt a methodology from labor economics to analyze how loan contract terms evolve ...
  • Dassatti Camors, Cecilia; Peydró, José-Luis; Rodríguez Tous, Francesc (2019)
    We analyze the impact of reserve requirements on the supply of credit to the real sector. For identification, we exploit a tightening of reserve requirements in Uruguay during a global capital in ows boom, where the change ...
  • Akin, Ozlem; Marín, José M.; Peydró, José-Luis (2019)
    Banking crises are recurrent phenomena, often induced by excessive bank risk-taking, which may be due to behavioral reasons (over-optimistic banks neglecting risks) and to agency problems between bank shareholders with ...
  • Bottero, Margherita; Minoiu, Camelia; Peydró, José-Luis; Polo, Andrea, 1983-; Presbitero, Andrea F.; Sette, Enrico (2019)
    We study negative interest rate policy (NIRP) exploiting ECB’s NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply—and hence the real ...
  • Jiménez, Gabriel; Peydró, José-Luis; Repullo, Rafael; Saurina, Jesús (2019-03)
    We analyze a small, new credit facility of a Spanish state-owned-bank during the crisis, using its continuous credit scoring system, firm-level scores, and credit register data. Compared to privately-owned banks, the ...
  • Daley, Brendan; Green, Brett; Vanasco, Victoria (2019-06-20)
    We develop a framework to explore the effect of credit ratings on loan origination and securitization. In the model, banks privately screen and originate loans and then issue securities that are backed by loan cash flows. ...
  • Malmendier, Ulrike; Pouzo, Demian; Vanasco, Victoria (2019-07-05)
    How do macro financial shocks affect investor behavior and market dynamics? Recent evidence on experience effects suggests a long-lasting influence of personally experienced outcomes on investor beliefs and investment but ...
  • Fendoğlu, Salih; Gülşen, Eda; Peydró, José-Luis (2019-11)
    We show that global liquidity limits the effectiveness of local monetary policy on credit markets. The mechanism is via a bank carry trade in international markets when local monetary policy tightens. For identification, ...
  • Bekkum, Sjoerd Van; Gabarro, Marc; Irani, Rustom M.; Peydró, José-Luis (2019-12-11)
    We examine the effects of borrower-based macroprudential policy for household leverage, liquidity, and nancial distress. For identi cation, we exploit the introduction of a mortgage loan-to-value limit in the Netherlands, ...
  • Galí, Jordi, 1961-; Gambetti, Luca (2020)
    The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the ...
  • Irani, Rustom M.; Iyer, Rajkamal; Meisenzahl, Ralf R.; Peydró, José-Luis (2020)
    We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register ...

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