The DOI matches its Crossref record; 44 of the 44 references it cites were found in a registry or an index.
Bank Risk-taking, Securitization, Supervision, and Low Interest Rates: Evidence from the Euro-area and the U.S. Lending Standards
Open accessAbstract
Using a unique dataset of the Euro area and the U.S. bank lending standards, we find that low (monetary policy) short-term interest rates soften standards, for household and corporate loans. This softening – especially for mortgages – is amplified by securitization activity, weak supervision for bank capital and too low for too long monetary policy rates. Conversely, low long-term interest rates do not soften lending standards. Finally, countries with softer lending standards before the crisis related to negative Taylor-rule residuals experienced a worse economic performance afterwards. These results help shed light on the origins of the crisis and have important policy implications.
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Cites
Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
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By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior
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Mostly Harmless Econometrics: An Empiricist's Companion
Angrist, J. D., & Pischke, J.-S. (2008) · doi:10.2307/j.ctvcm4j72 · Cited by 5,051
Inside the black box: the credit channel of monetary policy transmission
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Bank governance, regulation and risk taking
Laeven, L. A., & Levine, R. E. (2008) · Cited by 3,269
What Do a Million Observations on Banks Say About the Transmission of Monetary Policy?
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Cited by
Capital regulation and monetary policy with fragile banks
Angeloni, I., & Faia, E. (2013) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2013.01.003 · Cited by 435
Individual investor perceptions and behavior during the financial crisis
Hoffmann, A. O. I., Post, T., & Pennings, J. M. E. (2013) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2012.08.007 · Cited by 425
Monetary stimulus and bank lending
Chakraborty, I., Goldstein, I., & MacKinlay, A. (2020) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.09.007 · Cited by 259
Metadata
- Authors
- Maddaloni, A., & Peydró, J.-L.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2011-05-18
- Volume
- 24
- Issue
- 6
- Pages
- 2121-2165
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W3124221543
- Cited by
- 678
- References
- 44
- FWCI
- 84.25
- Type
- journal article
- Language
- en
- Open access
- green
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- Maddaloni, A., & Peydró, J.-L. (2011). Bank Risk-taking, Securitization, Supervision, and Low Interest Rates: Evidence from the Euro-area and the U.S. Lending Standards. Review of Financial Studies. https://doi.org/10.1093/rfs/hhr015
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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