| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7972 |
| DP7972 Global Banking and International Business Cycles | |
| Robert Kollmann; Gernot Müller; Zeno Enders | |
| 发表日期 | 2010-09-01 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper incorporates a global bank into a two-country business cycle model. The bank collects deposits from households and makes loans to entrepreneurs, in both countries. It has to finance a fraction of loans using equity. We investigate how such a bank capital requirement affects the international transmission of productivity and loan default shocks. Three findings emerge. First, the bank's capital requirement has little effect on the international transmission of productivity shocks. Second, the contribution of loan default shocks to business cycle fluctuations is negligible under normal economic conditions. Third, an exceptionally large loan loss originating in one country induces a sizeable and simultaneous decline in economic activity in both countries. This is particularly noteworthy, as the 2007-09 global financial crisis was characterized by large credit losses in the US and a simultaneous sharp output reduction in the US and the Euro Area. Our results thus suggest that global banks may have played an important role in the international transmission of the crisis. |
| 主题 | International Macroeconomics |
| 关键词 | Global banking International business cycles Bank capital requirements Global financial crisis Credit losses |
| URL | https://cepr.org/publications/dp7972 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536809 |
| 推荐引用方式 GB/T 7714 | Robert Kollmann,Gernot Müller,Zeno Enders. DP7972 Global Banking and International Business Cycles. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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