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Credit Matters : : Empirical Evidence on U.S. Macro-Financial Linkages / / Tamim Bayoumi, Ola Melander



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Autore: Bayoumi Tamim Visualizza persona
Titolo: Credit Matters : : Empirical Evidence on U.S. Macro-Financial Linkages / / Tamim Bayoumi, Ola Melander Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
Edizione: 1st ed.
Descrizione fisica: 1 online resource (29 p.)
Disciplina: 332.70973
Soggetto topico: Credit - United States - Econometric models
Bank assets - Econometric models - United States
Banks and Banking
Macroeconomics
Money and Monetary Policy
Industries: Financial Services
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
Personal Income, Wealth, and Their Distributions
Monetary economics
Finance
Banking
Credit
Personal income
Bank credit
Loans
Income
Banks and banking
Soggetto geografico: United States Economic conditions Econometric models
United States
Altri autori: MelanderOla  
Note generali: Description based upon print version of record.
Nota di contenuto: Contents; I. Introduction; II. A Framework for Analyzing Macro-Financial Linkages; Figures; 1. A Framework for Macro-Financial Linkages; III. The Effect of the Bank Capital/Asset Ratio on Lending Standards; 2. Bank Capital Adequacy and Lending Standards; IV. The Effect of Lending Standards and Balance Sheets on Credit; Tables; 1. The Bank Capital/Asset Ratio and Loan Standards; 2. Loan Standards, Balance Sheet Variables, and Credit; V. The Effect of Credit on Spending; 3. The Effect of Credit on Spending; VI. The Effect of Spending on Income; 4. The Effect of Spending on Income
VII. Feedback Loop through Balance Sheets of Banks, Firms and Households 5. Feedback Effects of GDP Growth on Bank Capital; VIII. Bottom Line: Quantitative Importance of Macro-Financial Linkages; 3. The Effects of an Adverse Bank Capital Shock; 4. The Impact of an Adverse Capital Shock on the Level of GDP and its Components; 5. The Impact of an Adverse Capital Shock on GDP Growth and the Contribution of GDP Components; 6. The Effects of an Adverse Demand Shock; 7. The Impact of an Adverse Demand Shock on the Level of GDP; IX. Conclusions
6. Loan Standards, Balance Sheet Variables, and Bank Credit Appendices; I. Credit Regressions for Bank Lending; 7. The Effect of Credit on Personal Consumption Expenditure; II. Spending Regressions for Sub-Components of Consumption; References
Sommario/riassunto: This paper develops a framework for analyzing macro-financial linkages in the United States. We estimate the effects of a negative shock to banks' capital/assetratio on lending standards, which in turn affect consumer credit, mortgages, and corporate loans, and the corresponding components of private spending (consumption, residential investment and business investment). In addition, our empirical model allows for feedback from spending and income to bank capital adequacy and credit. Hence, we trace the full credit cycle. An exogenous fall in the bank capital/asset ratio by one percentage point reduces real GDP by some 1½ percent through its effects on credit availability, while an exogenous fall in demand of 1 percent of GDP is gradually magnified to around 2 percent through financial feedback effects.
Titolo autorizzato: Credit Matters  Visualizza cluster
ISBN: 1-4623-6891-3
1-4527-4302-9
1-4518-7027-2
1-282-84120-3
9786612841200
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910807487103321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2008/169