Intermediationsschwäche des Bankensystems und Finanzkrise in Südkorea
Ralf Müller
External Publications,
1998
Abstract
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Monetary Reform and Monetary Union: A Comparison between 1948 and 1990
Silke Tober
External Publications,
1997
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Monetary Policy and Private Sector Development. The Case of South Africa
Tobias Knedlik
African Development Perspectives Yearbook, No. 9,
No. 9,
2004
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Monetary Policy and Bank Lending in Japan: An Agency-based Approach
Diemo Dietrich
Incentives and Economic Behaviour,
2005
Abstract
This paper studies the incentive effects on Japanese banks of a low interest rate policy by the Bank of Japan. It utilizes a simplified version of an overlapping principal-agent-style model of corporate finance originally developed in Dietrich (2003). This model is dedicated to study the monetary policy transmission mechanism by combining arguments of the broad credit channel and the bank lending channel taking into account that banks need to be provided with incentives to monitor entrepreneurs. We argue that stipulating banks to possess some amount of own capital generate these incentives. We denote this capital requirement to be market based and show that this requirement depends crucially on interest rates. After revealing some shortcomings of the credit crunch hypothesis, we apply this approach to the Japanese economy. As a result, a policy of very low interest rates may not only be inefficient but counterproductive to reactivate a stumbled economy via the usual credit channel.
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Monatliches Stimmungsbarometer für die ostdeutschen Bau- bzw. Industrieunternehmen
Doris Gladisch, Brigitte Loose, Udo Ludwig
Wirtschaftswoche,
1997
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Möglichkeiten und Perspektiven der Nutzung regenerativer Energiequellen
Martin Weisheimer
External Publications,
1995
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Möglichkeiten der Privatisierung. Von der Pflichtenübertragung zur Aufgabenprivatisierung.
B. Bilitewski, Antje Berger
External Publications,
2000
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Möglichkeiten der Privatisierung - Von der Pflichtenübertragung zur Aufgabenprivatisierung. Kennzahl 1578, Lieferung 9/2001
B. Bilitewski, Antje Berger
External Publications,
2001
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Mittelstand und Basel II – Welche Unterstützung braucht der sächsische Mittelstand, Teil 2
Ulrich Blum, Frank Leibbrand
ifo Dresden berichtet,
2003
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Mittelstand und Basel II – Welche Unterstützung braucht der sächsische Mittelstand, Teil 1
Ulrich Blum, Frank Leibbrand
ifo Dresden berichtet,
2003
Abstract
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