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Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data

Author/Editor: Margherita Bottero, Camelia Minoiu, José-Luis Peydro, Andrea Polo, Andrea F Presbitero, Enrico Sette.

Release Date:February, 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 more...



Price: $18.00
Financial Access Under the Microscope

Author/Editor: Sumit Agarwal, Thomas Kigabo, Camelia Minoiu, Andrea F Presbitero, Andre Silva.

Release Date:September, 2018

We examine the impact of a large-scale microcredit expansion program on financial access and the transition of previously unbanked borrowers to commercial banks. Using administrative micro-data more...



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Managing the Sovereign-Bank Nexus

Author/Editor: Giovanni Dell'Ariccia, Caio Ferreira, Nigel Jenkinson, Luc Laeven, Alberto Martin, Camelia Minoiu, Alex Popov.

Release Date:September, 2018

This paper reviews empirical and theoretical work on the links between banks and their governments (the bank-sovereign nexus). How significant is this nexus? What do we know about it? To what extent more...



Price: $20.00
Household Credit, Global Financial Cycle, and Macroprudential Policies : Credit Register Evidence from an Emerging Country

Author/Editor: Mircea Epure, Irina Mihai, Camelia Minoiu, José-Luis Peydró.

Release Date:January, 2018

We analyze the effects of macroprudential policies on local bank credit cycles and interactions with international financial conditions. For identification, we exploit the comprehensive credit more...



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Bank Lending in the Knowledge Economy

Author/Editor: Giovanni Dell'Ariccia, Dalida Kadyrzhanova, Camelia Minoiu, Lev Ratnovski.

Release Date:November, 2017

We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show more...



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Corporate Investment and the Real Exchange Rate

Author/Editor: Mai Chi Dao, Camelia Minoiu, Jonathan David Ostry.

Release Date:August, 2017

We examine the relationship between real exchange rate depreciations and indicators of firm performance using data for a sample of more than 30,000 firms from 66 (advanced and emerging market) more...



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VAR meets DSGE : Uncovering the Monetary Transmission Mechanism in Low-Income Countries

Author/Editor: Bin Grace Li, Stephen A O'Connell, Christopher Adam, Andrew Berg, Peter Montiel.

Release Date:April, 2016

VAR methods suggest that the monetary transmission mechanism may be weak and unreliable in low-income countries (LICs). But are structural VARs identified via short-run restrictions more...



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Monetary Policy in a Developing Country : Loan Applications and Real Effects

Author/Editor: Charles Abuka, Ronnie K Alinda, Camelia Minoiu, José-Luis Peydró, Andrea Presbitero.

Release Date:December, 2015

The transmission of monetary policy to credit aggregates and the real economy can be impaired by weaknesses
 in the contracting environment, shallow financial markets, and a concentrated more...



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Financial Crises and the Composition of Cross-Border Lending

Author/Editor: Eugenio Cerutti, Galina Hale, Camelia Minoiu.

Release Date:October, 2014

We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan more...



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Does Financial Connectedness Predict Crises?

Author/Editor: Camelia Minoiu, Chanhyun Kang, V S Subrahmanian, Anamaria Berea.

Release Date:December, 2013

The global financial crisis has reignited interest in models of crisis prediction. It has also raised the question whether financial connectedness - a possible source of systemic risk - can serve as more...



Price: $18.00
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