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Tuesday, November 17, 2020 | History

2 edition of Contagion, bank lending spreads, and output fluctuations found in the catalog.

Contagion, bank lending spreads, and output fluctuations

Pierre-Richard AgГ©nor

Contagion, bank lending spreads, and output fluctuations

  • 296 Want to read
  • 26 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Contagion (Social psychology) -- Economic aspects -- Argentina -- Econometric models.,
  • Bank loans -- Argentina -- Econometric models.,
  • Money supply -- Argentina -- Econometric models.,
  • Financial crises -- Argentina -- Econometric models.,
  • Prime rate -- Argentina -- Econometric models.,
  • Business cycles -- Argentina -- Econometric models.,
  • Argentina -- Economic conditions -- 1983- -- Econometric models.

  • Edition Notes

    StatementP.R. Agénor, J. Aizenman, A. Hoffmaister.
    SeriesNBER working paper series -- working paper 6850, Working paper series (National Bureau of Economic Research) -- working paper no. 6850.
    ContributionsAizenman, Joshua., Hoffmaister, Alexander W., National Bureau of Economic Research.
    Classifications
    LC ClassificationsHB1 .W654 no. 6850
    The Physical Object
    Pagination23, [4] p. :
    Number of Pages23
    ID Numbers
    Open LibraryOL22400653M

    A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of.


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Contagion, bank lending spreads, and output fluctuations by Pierre-Richard AgГ©nor Download PDF EPUB FB2

Agénor, Aizenman, and Hoffmaister study how contagion affects bank lending spreads and fluctuations in output in Argentina. They analyze what determines bank lending spreads when verification and enforcement costs for loan contracts are high. Get this from a library. Contagion, bank lending spreads, and output fluctuations.

[Pierre-Richard Agénor; Joshua Aizenman; Alexander W Hoffmaister; World Bank Institute. Economic Policy and Poverty Reduction.] -- A positive historical shock to external spreads can lead to an increase in domestic spreads and a reduction in the cyclical component of output.

NBER Program(s): International Finance and Macroeconomics This paper studies Contagion effects of contagion on bank lending spreads and output fluctuations in Argentina.

The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan by: The authors study how contagion affects bank lending spreads and fluctuations in output in Argentina.

They analyze what determines bank lending spreads when verification and enforcement costs. Contagion, bank lending spreads, and output fluctuations Author: Pierre-Richard Agénor ; Joshua Aizenman ; Alexander W Hoffmaister ; National Bureau of Economic Research.

Abstract: This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina. The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan. Abstract This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina.

The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan contracts. The authors study how contagion affects bank lending spreads and fluctuations in output in Argentina. They analyze what determines bank lending spreads when verification and enforcement costs for loan contracts are high.

Enter the password to open this PDF file: Cancel OK. File name:. An earlier version of this paper was prepared for discussion at the WIDER workshop on financial contagion held at the World Bank on June 3–4 and reflects comments from participants.

Joshua Aizenman and A. And output fluctuations book (). “Contagion, Bank Lending Spreads and Output Fluctuations,” mimeo, World Bank. Basic Books. Google Scholar. Abstract. This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina.

The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan.

This paper studies the effects of contagion on bank lending spreads and output fluctuations in Argentina. The first part presents the analytical framework, which analyzes the determination of bank lending spreads in the presence of verification and enforcement costs of loan contracts.

Get this from a library. Contagion, bank lending spreads, and output fluctuations. [Pierre-Richard Agénor; Joshua Aizenman; Alexander W Hoffmaister; World Bank. Contagion: Why Crises Spread and How This Can Be Stopped. test the role of and output fluctuations book lending and the effect of a common lender by examining capital.

Spreads, and Output Fluctuations. This paper studies the effects of external shocks on bank lending spreads and output fluctuations in Argentina during the early s. The first part presents the analytical framework.

The second presents a VAR model that relates bank lending spreads, the cyclical compo-nent of output, the real lending rate, and the external interest rate. test the role of bank lending and the effect of a common lender by examining capital.

“ Contagion, Bank Lending. Spreads, and Output Fluctuations. Bank loan contracting provides an interesting experimental laboratory for studying financial contagion because the multiple dimensions of bank loan contracts allow a fuller examination of creditor responses to increased uncertainty and risk.

1 Thus, in addition to providing new evidence on the direct pricing effects of contagion, ours is the. Agenor, Aizenman, and Hoffmaister: w Contagion, Bank Lending Spreads and Output Fluctuations: Eichengreen, Rose, and Wyplosz: w Contagious Currency Crises: Stiglitz: w Economics of Information and the Theory of Economic Development: Agenor and Aizenman: w Volatility and the Welfare Costs of Financial Market Integration: Obstfeld and Rogoff: w The.

The seriousness of the Asian financial crises and difficulties in explaining its spread have led to fears of irrational contagion. This paper studies rational channels through which contagion might have spread and highlights those factors which make a country susceptible to contagion.

The rational channels studied in the paper are contagion via real sector linkages, financial market linkages. We find that the network matters both for the amount of illiquidity in the system and for the spread of bankruptcy. R., Aizenman, J., and Hoffmaister A., Contagion Bank Lending Spreads and Output FluctuationsWorking Paper World Bank.

Google Scholar. Allen, F. and Gale, D.,Financial ContagionJournal of Political Basic Books. "Contagion, bank lending spreads, and output fluctuations," Policy Research Working Paper SeriesThe World Bank.

Hamilton, James D, " A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, vol. 57(2), pagesMarch. The term LIBOR–OIS spread has the role of evaluating the health of banks, for it mirrors the risk linked with lending to other banks.

In times of financial distress, the LIBOR–OIS spread is a fitting indicator of risk premiums as a result of credit and funding liquidity risk (McAndrews et al.,Hui et al., ).

We find that CEO departures are associated with a subsequent increase in bank loan financing. firms pay higher loan spreads the model generates persistent fluctuations in aggregate output.

Contagion, Bank Lending Spreads and Output Fluctuations. Working Paper W Cambridge, MA: National Bureau of Economic Resources, Aghion, Philippe, Philippe Bacchetta, and Abhijit V.

Contagion, Bank Lending Spreads and Output Fluctuations. By Pierre-richard Agenor, External Shocks, Bank Lending Spreads, and Output Fluctuations. Taimur Baig & Ilan Goldfajn, "Financial Market Contagion in the Asian Crisis," IMF Working Papers 98/, International Monetary Fund. Ilan Goldfajn & Taimur Baig, "Financial market contagion in the Asian crisis," Textos para discussãoDepartment of Economics PUC-Rio (Brazil).

Doukas / Contagion effect on sooereign interest rate spreads Table 2 Reaction of Euro-syndicate interest rate spreads to new information. a,AS, =ao+a,qe+azqe, Period Borrowing Estimated coefficients Summary statistics countries ao ai az R2 DW Brazil () () () Mexico Contagion, bank lending spreads, and output fluctuations: Argentina in the aftermath of the Tequila Effect, – Review of International Economics, forthcoming.

The Analytics of Segmented. Contagion, Bank Lending Spreads and Output Fluctuations”, NBER Working Papers, (). Credit Rationing in Markets with Imperfect Information''. LogEc provides access and usage for services based on the RePEc data set. LogEc is hosted by the Örebro University School of Business.

Questions or comments. Please see our explanation of how the statistics are collected or e-mail. "Contagion, Bank Lending Spreads and Output Fluctuations," NBER Working PapersNational Bureau of Economic Research, Inc.

Agenor, Pierre-Richard*Aizenman, Joshua*Hoffmais, " Contagion, bank lending spreads, and output fluctuations," Policy Research Working Paper SeriesThe World Bank. Agenor, Pierre-Richard, Joshua Aizenman, and Alexander Hoffmaister.

“Contagion, Bank Lending Spreads and Output Fluctuations.” Policy Research Working PaperWorld Bank, Washington, DC, Google Scholar. Financial institutions often do not charge explicit fees for the services they provide, but are instead compensated by the spread between interest rates on loans and deposits.

The lack of explicit fees in lending makes it difficult to measure the output of banks and other financial institutions. Effective measurement should distinguish between income derived from lending services and income.

Contagion, Bank Lending Spreads, and Output Fluctuations. By Pierre-richard Agenor, External Shocks, Bank Lending Spreads, and Output Fluctuations.

Agenor et al. () study the effects of external interest rate spreads on bank lending spreads and output in Argentina during the s. In this paper, I build a model to demonstrate the effects of a change in the world interest rate and assess its. This paper studies the effects of external shocks on bank lending spreads and output fluctuations in Argentina during the early s.

The first part presents the analytical framework. The second presents a VAR model that relates bank lending spreads, the cyclical component of output, the real lending rate, and the external interest rate spread.

Impulse response functions show that a. Contagion, Bank Lending Spreads, and Output Fluctuations UCSC Dept. of Economics Working Paper No. ; World Bank Policy Research Working Paper No. Contagion, Bank Lending Spreads and Output Fluctuations. By Pierre-richard Agenor, External Shocks, Bank Lending Spreads, and Output Fluctuations.

Hoffmaister, Alexander, Joshua Aizenman and Pierre-Richard Agenor () “Contagion, Bank Lending Spreads, and Output Fluctuations,” World Bank Working Paper No. Google Scholar Holmstrom, Bengt and Jean Tirole () “Financial Intermediation, Loanable Funds, and the Real Sector,” Quarterly Journal of Economics, (3): – Agénor and Aizenman analyze the implications of inefficient financial intermediation for debt management using a model in which firms rely on bank credit to finance their working capital needs and lenders face high state verification and enforcement costs of loan contracts.

Their analysis shows that lower expected productivity, higher contract enforcement and verification costs, or higher. Contagion, Bank Lending Spreads and Output Fluctuations P.R.

Agenor, J. Aizenman and A. Hoffmaister NBER Working Paper Emerging Market Crises: An Asset Markets Perspective Ricardo J. Caballero and Arvind Krishnamurthy NBER Working Paper What Caused the Asian Currency and Financial Crisis?

Part II: The Policy Debate.Contagion, bank lending spreads, and output fluctuations Policy Research Working Paper Series, The World Bank View citations (8) Also in NBER Working Papers, National Bureau of Economic Research, Inc () View citations (18) Financial Sector Inefficiencies and Coordinate Failures: Implications for Crisis Management.

Abstract. Around the world, factoring is a growing source of external financing for corporations and small and medium-size enterprises (SMEs). What is unique about factoring is that the credit provided by a lender is explicitly linked to the value of a supplier's accounts receivable and not the supplier's overall creditworthiness.