Narodna in univerzitetna knjižnica, Ljubljana (NUK)
Naročanje gradiva za izposojo na dom
Naročanje gradiva za izposojo v čitalnice
Naročanje kopij člankov
Urnik dostave gradiva z oznako DS v signaturi
  • Macroprudential dividend restrictions and countercyclical buffer release [Elektronski vir] : assessment in a DSGE model
    Di Virgilio, Domenica
    This paper shows the transmission of the macroprudential restriction on bank dividend payments in a DSGE model, proposed by Clerc et al. (2015), where banks provide housing and corporate loans and ... finance their activity through equity and deposits. In the model, borrowing households, companies and banks can default, thus providing a rational for macroprudential interventions aiming at preserving the bank solvency vis a` vis negative shocks to bank profitability. In this context, the macroprudential measure that temporarily forbids the distribution of dividends has a positive direct effect on credit, because the retained earnings are used to finance the loans. Despite a small increase in credit risk, the measure contributes, through the expansion of credit, to increase the bank profitability and, therefore, to lower the probability of bank default and the cost of external funding, even beyond the abolishment of the dividend restriction. Therefore, the temporary dividend measure generates positive long-lasting (though declining) effects on credit and on GDP. In contrast, a counter-cyclical capital buffer release impacts positively on credit and GDP in the short run, but it backfires in the long run, due to an increase in bank fragility. The adoption of the dividend restriction as a complementary measure to the capital buffer release strengthens the positive short run effects and mitigates the negative long run effects of this second type of macroprudential intervention.
    Vrsta gradiva - e-knjiga ; neleposlovje za odrasle
    Izdaja - Electronic ed.
    Založništvo in izdelava - Ljubljana : Banka Slovenije, 2023
    Jezik - angleški
    ISBN - 978-961-6960-89-2
    COBISS.SI-ID - 155471107

    Povezava(-e):

    https://www.bsi.si/en/publications/research/banka-slovenije-working-papers
    Digitalna knjižnica Slovenije - dLib.si

Vnos na polico