해외동향 | How Would US Banks Fare in a Negative Interest Rate Environment? | 한국금융연구원

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2020-08-04 일자 [제 20-56 호]

How Would US Banks Fare in a Negative Interest Rate Environment?
FRB (2020-08-04)

The effectiveness of negative interest rates as a monetary policy tool depends importantly on the response of the banking sector. This paper offers unique new insights for U.S. banks by using supervisory data to examine ..  more

The Economics of Platforms: A Theory Guide for Competition Policy
CEPR (2020-08-04)

We propose an analysis of platform competition based on the academic literature with a view toward competition policy. First, we discuss to which extent competition can emerge in digital markets and show which forms it c ..  more

Public Debt and r - g at Risk
IMF (2020-08-04)

As interest rate-growth differentials (r-g) turned negative in many countries, governments consider pursuing fiscal expansion and the potential risks involved. Using a large sample of advanced and emerging economies, our ..  more

제 목	발행기관
Replace the federal student loan system with an income share agreement program	AEI
Design choices for central bank digital currency: Policy and technical considerations	Brookings
Digital contact tracing and the coronavirus: Israeli and comparative perspectives	Brookings
The global identity of cities: Seven steps to build reputation and visibility for competitiveness and resilience	Brookings
The United States, China, and the contest for the Fourth Industrial Revolution	Brookings
Using the Federal Reserve's Discount Window for Debtor-in-Possession Financing During the COVID-19 bankruptcy crisis	Brookings
Short-Term Predictability of Stock Market Indexes following Large Drawdowns and Drawups	Central Bank of Brazil
Unemployment Insurance as a Subsidy to Risky Firms	Central Bank of Brazil
How the Development Sector Is Channeling Money to Digital Financial Services	CFI
Digital platform as a growth lever	Deloitte
Shared Destinies? Small Banks and Small Business Consolidation	FDIC
How Would US Banks Fare in a Negative Interest Rate Environment?	FRB
Unexpected Supply Effects of Quantitative Easing and Tightening	FRB of Chicago
Government Debt Limits and Stabilization Policy	FRB of Cleveland
Lessons from the Monetary and Fiscal History of Latin America	FRB of Minneapolis
Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics	FRB of Minneapolis
Managing the Maturity Structure of Marketable Treasury Debt: 1953-1983	FRB of New York
Pirates without Borders: The Propagation of Cyberattacks through Firms' Supply Chains	FRB of New York
Bank Stress Test Results and Their Impact on Consumer Credit Markets	FRB of Philadelphia
Labor Supply Within the Firm	FRB of Philadelphia
The Firm Size and Leverage Relationship and Its Implications for Entry and Business Concentration	FRB of Philadelphia
Vacancy Chains	FRB of Philadelphia
Social Security Reform with Heterogeneous Mortality	FRB of Richmond
Inequality in the Welfare Costs of Disinflation	FRB of St. Louis
Managing a New Policy Framework: Paul Volcker, the St. Louis Fed, and the 1979-82 War on Inflation	FRB of St. Louis
The Geography of Business Dynamism and Skill Biased Technical Change	FRB of St. Louis
Budget Credibility of Subnational Governments	Levy
Developing a Macro-Micro Model for Analyzing Gender Impacts of Public Policy	Levy
Banking system resilience in the time of COVID-19	McKinsey
Breaking away from the pack in the next normal of retail banking distribution	McKinsey
European bancassurance: Impact of COVID-19 and the next normal	McKinsey
"Quick Response" Economic Stimulus: The Effect of Small-Value Digital Coupons on Spending	NBER
A Dynamic Theory of Lending Standards	NBER
A Quantity-Driven Theory of Term Premia and Exchange Rates	NBER
Age Discrimination across the Business Cycle	NBER
Collaborating During Coronavirus: The Impact of COVID-19 on the Nature of Work	NBER
Conflicting Interests and the Effect of Fiduciary Duty -- Evidence from Variable Annuities	NBER
COVID-19 Prevention and Air Pollution in the Absence of a Lockdown	NBER
Does Joining the S&P 500 Index Hurt Firms?	NBER
Does the Commodity Super Cycle Matter?	NBER
Efficient Redistribution	NBER
How Much to Save? Decision Costs and Retirement Plan Participation	NBER
The Economic Consequences of R^ = 1: Towards a Workable Behavioural Epidemiological Model of Pandemics	NBER
The Ends of 30 Big Depressions	NBER
The Macroeconomic Consequences of Infrastructure Investment	NBER
The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID	NBER
The Role of Assets In Place: Loss of Market Exclusivity and Investment	NBER
Why Do Borrowers Default on Mortgages? A New Method For Causal Attribution	NBER
Aim For Revival. Not Just Survival : European Banking Outlook 2020	Oliver Wyman
Big Banks, Bigger Techs? : How policymakers could respond to a probable discontinuity	Oliver Wyman
Digital Identity : Banks must seize the opportunity	Oliver Wyman
Lessons In Financial Regulation : What we've learned from the Coronavirus Recession	Oliver Wyman
A possible IMF Pandemic Support Facility for emerging-market countries	PIIE
Sovereign debt restructuring: The centrality of the IMF's role	PIIE
The short- and long-term costs to the United States of the Trump administration's attempt to deport foreign students	PIIE

제 목	발행기관
Impact Underwriting : Sustainable insurance as an opportunity for society and business	Allianz
The Financing of Investment: Firm Size, Asset Tangibility and the Size of Investment	Bank of France
Court efficiency and aggregate productivity: the credit channel	Bank of Italy
Protectionism and the effective lower bound in the euro area	Bank of Italy
The economic drivers of volatility and uncertainty	Bank of Italy
The impact of the IRB approach on the relationship between the cost of credit for public companies and financial market conditions	Bank of Italy
The time-varying risk of Italian GDP	Bank of Italy
The decline in public investment: "social dominance" or too-rigid fiscal rules?	Bank of Spain
Behavioral Corporate Finance: The Life Cycle of a CEO Career	CEPR
Choosing Institutional over Economic Integration: Are There Growth Effects?	CEPR
Forecasting the Covid-19 recession and recovery: Lessons from the financial crisis	CEPR
Modeling and Forecasting Macroeconomic Downside Risk	CEPR
Operational Risk Capital	CEPR
Sentimental Business Cycles	CEPR
Shelving or developing? The acquisition of potential competitors under financial constraints.	CEPR
The Distributional Impact of the Pandemic	CEPR
The Economic Effects of COVID-19 Containment Measures	CEPR
The economics of deferral and clawback requirements	CEPR
The Economics of Platforms: A Theory Guide for Competition Policy	CEPR
The Impact of Social Security on Pension Claiming and Retirement: Active vs. Passive Decisions	CEPR
Compulsory licensing and access to future Covid-19 vaccines	CEPS
Does greater transparency discipline the loan loss provisioning of privately held banks?	Deutsche Bundesbank
Financial shocks and the relative dynamics of tangible and intangible investment: Evidence from the euro area	Deutsche Bundesbank
Household savings, capital investments and public policies: What drives the German current account?	Deutsche Bundesbank
Repayment under Flexible Loan Contracts: Evidence from Tanzania	DIW
The IMF's financial surveillance in Europe - experiences with FSAPs and their links with Article IV consultations	ECB
Equilibrium Bitcoin Pricing	EconPol
Europe's Pandemic Politics	EEAG
Financial shocks and inflation dynamics	Swiss National Bank
Shall we twist?	Swiss National Bank
Stock market evidence on the international transmission channels of US monetary policy surprises	Swiss National Bank
Accelerating Digital Inclusion in the New Normal	WEF
New Paradigm for Business of Data	WEF
Redesigning Data Privacy: Reimagining Notice & Consent for human technology interaction	WEF
Sharing Sensitive Health Data in a Federated Data Consortium Model: An Eight-Step Guide	WEF

제 목	발행기관
Growth of Motorcycle Use in Metro Manila: Impact on Road Safety	ADB
Principles of Climate Risk Management for Climate Proofing Projects	ADB
Reforms, Opportunities, and Challenges for State-Owned Enterprises	ADB
The COVID-19 Impact on Philippine Business: Key Findings from the Enterprise Survey	ADB
Drivers of Blue Economy in Asia and Pacific Island Countries: An Empirical Investigation of Tourism and Fisheries Sectors	ADBI
Feeling the Heat: Climate Risks and the Cost of Sovereign Borrowing	ADBI
Public-Private Partnerships in Georgia and Impact Assessment of Infrastructure	ADBI
The Nexus of Safe Asset Shortage, Credit Growth, and Financial Instability	ADBI
Testing the Effectiveness of Unconventional Monetary Policy in Japan and the United States	BOJ
금시장 현황과 전망 (In Japanese)	Mizuho Research Institute
The Determinants of Mortgage Defaults in Australia - Evidence for the Double-trigger Hypothesis	Reserve Bank of Australia
Firm Exit during the COVID-19 Pandemic: Evidence from Japan	RIETI
Attributes needed for Japan's central bank digital currency	TCER

제 목	발행기관
Covid-19: Boon and bane for digital payments and financial inclusion	BIS
Effects of credit restrictions in the Netherlands and lessons for macroprudential policy	BIS
Effects of Fed policy rate forecasts on real yields and inflation expectations at the zero lower bound	BIS
Inflation at risk from Covid-19	BIS
Advancing Women's Digital Financial Inclusion	GPFI
Promoting Digital and Innovative SME Financing	GPFI
A Framework for Estimating Health Spending in Response to COVID-19	IMF
Accounting Standards and Insurer Solvency Assessment	IMF
Do Monetary Policy Frameworks Matter in Low Income Countries?	IMF
Dominant Currencies and External Adjustment	IMF
Forbearance Patterns in the Post-Crisis Period	IMF
Harnessing Digital Technologies to Promote SMEs in the MENAP Region	IMF
Network Effects and Research Collaborations	IMF
Privacy Provision, Payment Latency, and Role of Collateral	IMF
Public Debt and r - g at Risk	IMF
Raising Tax Revenue: How to Get More from Tax Administrations?	IMF
Reading the Stars	IMF
Tax Revenues in Fragile and Conflict-Affected States-Why Are They Low and How Can We Raise Them?	IMF
The Real Effects of Mobile Money: Evidence from a Large-Scale Fintech Expansion	IMF
Who Drains Bond Market Liquidity in an Emerging Market?	IMF
Can subnational accounting give an early warning of fiscal risks?	OECD
Key trends in development co-operation for national data and statistical systems	OECD
Optimising the operation and use of national research infrastructures	OECD
Capital Market Financing and Firm Growth	World Bank
Income Distribution, International Integration and Sustained Poverty Reduction	World Bank
The African Continental Free Trade Area : Economic and Distributional Effects	World Bank
The Information Content of Capital Controls	World Bank
What Can the Service Delivery Indicator Surveys Tell Us about COVID-19 Preparedness ?	World Bank
Who on Earth Can Work from Home ?	World Bank

제 목	발행기관
Big Tech Emperors Parade Their Earnings Power	bloomberg
Gold Surge Adds $3 Billion to Three Family Fortunes	bloomberg
Bank of America Plans to Disclose Emissions Lending	bloomberg
Pandemic Advice Ignored by Trump Helps Vietnam Fight Coronavirus	bloomberg
Credit Suisse to Merge Investment Bank and Trading in Revamp	bloomberg
Senior Executives Quit China Wealth Fund Over Pay, Opportunities	bloomberg
Bankers Leaving Hong Kong Face Grim Job Markets and Higher Taxes	bloomberg
The Pandemic Recovery Window Is Already Closing	bloomberg
Europe's Economy to Outpace U.S. in Upending of Past Roles	bloomberg
The Gig Economy Compromised Our Immune System	bloomberg
Google has outgrown its corporate culture	economist
The EU's recovery fund revives a debate on common taxes	economist
South Africa borrows from the IMF for the first time since apartheid	economist
Would a Biden administration be softer than Trump on China	economist
Alphabet, Amazon, Apple and Facebook face an antitrust grilling	economist
The geometry of the pandemic in America	economist
Saudi Arabia has put strict limits on this year's haj	economist
The pandemic is widening educational inequality	economist
China v America	economist
Donald Trump cancels his Florida celebration	economist
Amazon doubles quarterly profit despite Covid-19 costs	ft
Apple revenues defy expectations despite store closures	ft
ETFs are the canary in the bond coal mine	ft
Fed warns resurgence of virus threatens economic recovery	ft
European banking needs a Big Bang	ft
It is too soon to write off Donald Trump's election chances	ft
Stimulus stalemate threatens to leave Americans in the lurch	ft
The parallel universe of private equity returns	ft
Asset managers join forces with the eco warriors	ft
Banks across Europe braced for further heavy loan-loss charges	ft
Reopening Schools Try to Decide When They Should Close Again Due to Coronavirus Cases	wsj
U.S. Economy Contracted at Record Rate Last Quarter	wsj
Big Tech's Antitrust Paradox	wsj
Fed Maintains Stimulus Commitment as Economic Outlook Dims	wsj
Facebook Offers Money to Reel In TikTok Creators	wsj
The World's Covid Resurgence	wsj
GOP Releases Coronavirus Relief Proposal After Delay	wsj
Jumbo Mortgage Rates Are No Longer the Cheapest Around	wsj
A Big Unknown in Covid-19 Vaccine Development	wsj
Why Growth in the Fed's Asset Portfolio Has Paused	wsj