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Browsing Informes (Departament d'Economia i Empresa) by Subject "Banks"

Browsing Informes (Departament d'Economia i Empresa) by Subject "Banks"

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  • 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, ...
  • 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 ...
  • Bubeck, Johannes; Maddaloni, Angela; Peydró, José-Luis (2020-03-27)
    We show that negative monetary policy rates induce systemic banks to reach-for-yield. For identification, we exploit the introduction of negative deposit rates by the European Central Bank in June 2014 and a novel securities ...

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