WORKING PAPER SERIES NO 1457 / AUGUST 2012: EXCESSIVE BANK RISK TAKING AND MONETARY POLICY pptx

... theircomments.Allremainingerrorsareourown.Theviewsexpressedinthis paper donotnecessarilyreecttheviewsoftheIMForDNB. This paper has previously circulated as Monetary Policy and Excessive Bank Risk Taking and “Leverage, Bank Risk Taking and the Role of Monetary Policy .Itai AguratIMF(SingaporeRegionalTrainingInstitute),10ShentonWay,MASBuilding#14-03,Singapore079117;e-mail:iagur@imf.orgMaria ... papers published in the ECB Working Paper Series can be found on the ECB’s website, http :// www.ecb.europa.eu/pub/scientic/wps/date/html/index.en.htmlMacroprudential Research NetworkThis paper ... banks face the same typeof trade-off as in the previous section. Bad type ﬁrms offer a higher volatility of returns, which17 WORKING PAPER SERIES NO 1457 / AUGUST 2012 EXCESSIVE BANK RISK TAKING...

WORKING PAPER SERIES NO 1471 / SEPTEMBER 2012: FEEDBACK TO THE ECB’S MONETARY ANALYSIS THE BANK OF RUSSIA’S EXPERIENCE WITH SOME KEY TOOLS pdf

... http :// ssrn.com/abstract_id=2145295.Information on all of the papers published in the ECB Working Paper Series can be found on the ECB’s website, http :// www.ecb.europa.eu/pub/scientic/wps/date/html/index.en.htmlAcknowledgementsMany ... State Monetary Policy in 2011 and for 2012 and 2013, I. Medium-term monetary policy principles, pp. 3-4. 9 CBR, Guidelines for the Single State Monetary Policy in 2012 and for 2013 and 2014, ... floating band. WORKING PAPER SERIES NO 1471 / SEPTEMBER 2012FEEDBACK TO THE ECB’S MONETARY ANALYSISTHE BANK OF RUSSIA’SEXPERIENCE WITH SOME KEY TOOLSAlexey Ponomarenko, Elena Vasilieva and...

WORKING PAPER SERIES NO 1487 / OCTOBER 2012: ASYMMETRIC INFORMATION IN CREDIT MARKETS, BANK LEVERAGE CYCLES AND MACROECONOMIC DYNAMICS doc

... papers published in the ECB Working Paper Series can be found on the ECB’s website, http :// www.ecb.europa.eu/pub/scientic/wps/date/html/index.en.htmlMacroprudential Research NetworkThis paper ... maximize14 WORKING PAPER SERIES NO 1487 / OCTOBER 2012ASYMMETRIC INFORMATION IN CREDIT MARKETS, BANK LEVERAGE CYCLES AND MACROECONOMIC DYNAMICSAnsgar RannenbergNOTE: This Working Paper should not be ... on on loans to entrepreneurs made in period t-1.162.6 Monetary policy and equilibrium Monetary policy sets the risk free interest rate, and thus the deposit rate, following an interestfeedback...

WORKING PAPER SERIES NO 804 / AUGUST 2007 GROWTH ACCOUNTING FOR THE EURO AREA A STRUCTURAL APPROACH pptx

... uniequational estimates(Schumacher, 2005).18ECB Working Paper Series No 804 August 2007ISSN 1561081-09 771561 081005 WORKING PAPER SERIES NO 804 / AUGUST 2007GROWTH ACCOUNTING FOR THE EURO AREAA ... publications feature a motif taken from the €20 banknote. WORKING PAPER SERIES NO 804 / AUGUST 2007Workshop “Perspectives on Potential Output and Productivity Growth” (Enghien-Les-Bain, Paris, ... κ†tare two mutually and serially independent Gaussian disturbances, ζ†t∼ NID(0, Σζ), κ†t∼20ECB Working Paper Series No 804 August 2007NID(0, λΣζ), and the scalar polynomial ϕ(L) is such...

WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005: BANKING SYSTEM STABILITY A CROSS-ATLANTIC PERSPECTIVE pptx

... will feature a motif taken from the €50 banknote. WORKING PAPER SERIES NO. 527 / SEPTEMBER 2005This paper can be downloaded without charge from http :// www.ecb.int or from the Social Science ... top banks29ECB Working Paper Series No. 527September 2005of France, German y and the N etherlands and the top Spanish bank. Moreover, as in the case of BNP P aribas, Crédit Agricole and SociétéGénérale, ... bondspreads.23ECB Working Paper Series No. 527September 2005banking systems in terms of assets, we ha ve 6 banks from Germany, 4banks from France, 4 banks from Italy, 3 ban ks from Sp ain, 2 bankseach...

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WORKING PAPER SERIES NO 898 / MAY 2008: CENTRAL BANK COMMUNICATION AND MONETARY POLICY A SURVEY OF THEORY AND EVIDENCE doc

... does not know 10 For related work see Michelle Garfinkel and Seonghwan Oh (1995), Faust and Svensson (2001), and Henrik Jensen (2002). 16ECB Working Paper Series No 898May 2008banks, and ... central bank. Some of the difficulties in doing so are described by Mishkin (2004) and Cukierman (2008). Working PaPer SerieS no 898 / May 2008Central Bank CoMMuniCation and Monetary PoliCy a ... understanding of the way the central bank thinks WORKING PAPER SERIES NO 898 / MAY 2008In 2008 all ECB publications feature a motif taken from the 10 banknote.CENTRAL BANK COMMUNICATION AND...

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Working PaPer SerieS no 1150 / January 2010: Do bank loanS anD creDit StanDarDS have an effect on outPut? a Panel aPProach for the euro area doc

... and Zhu, H. (2008), "Capital regulation, risk- taking and monetary policy: A missing link in the monetary policy transmission mechanism?", BIS Working Paper No. 268.20ECB Working Paper ... growthECB Working Paper Series No 1150January 201027Table 5 - ContnuedPanel B: IV panel regression of GDP growth on loans growth and changes in credit standards28ECB Working Paper Series No 1150January ... 2010 WORKING PAPER SERIES NO 1150 / JANUARY 2010This paper can be downloaded without charge fromhttp :// www.ecb.europa.eu or from the Social Science Research Networkelectronic library at http :// ssrn.com/abstract_id=1535995.In...

WORKING PAPER SERIES NO 1332 / APRIL 2011: CENTRAL BANK COMMUNICATION ON FINANCIAL STABILITY docx

... Working Paper No. 2006-005A. Dincer, N. and B. Eichengreen (2009). Central Bank Transparency: Causes, Consequences and Updates. NBER Working Paper No. 14791. Edmans, A., D. Garcia and O. Norli ... WORKING PAPER SERIES NO 1332 / APRIL 2011by Benjamin Born, Michael Ehrmann and Marcel FratzscherCENTRAL BANK COMMUNICATION ON FINANCIAL STABILITY19ECB Working Paper Series No 1332April ... Benchmark? NBER Working Paper No. 13714. Rigobon, Roberto and Brian Sack (2004). The Impact of Monetary Policy on Asset Prices, Journal of Monetary Economics 51(8), 1553-75. Sarno, L. and M. Taylor...

Working PaPer SerieS no 967 / november 2008: Central bank miSPerCePtions and the role of money in interest rate rules pptx

... proposed byChristiano and Rostagno (2001) and Christiano et al. (2006) that combines monetary targeting with Taylor-styleinterest rate rules.10ECB Working Paper Series No 967November 2008the ... on the monetary target for the year to come. Working PaPer SerieS no 967 / november 2008Central bank miSPerCePtionS and the role of money in intereSt rate ruleSby Günter W. Beck and Volker ... in output and inﬂation and arguably embodies central bankers’ beliefson policy tradeoffs and monetary policy transmission in the 1970s and 1980s quite well. Itmay be the better candidate for...

OCCASIONAL PAPER SERIES NO 68 / AUGUST 2007: THE SECURITIES CUSTODY INDUSTRY potx

... 437Banco Santander 5 2 7Barclays 7 7Société Générale 3 2 1 6Nordea 415Stanbic Bank 5 5BankBoston 4 4Hansabank 3 3Handelsbanken 213Standard Bank 3 3CSOB 2 2Fortis Bank 2 2KAS Bank 2 2Millenium ... of options and, in some cases, financing the purchase of the underlying shares.OCCASIONAL PAPER SERIES NO 68 / AUGUST 2007This paper can be downloaded without charge from http :// www.ecb.int ... same kinds of risks that a bank normally faces, manages and mitigates for all banking services. Essentially, there are no additional categories of risks that are unique to a bank s custody...

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