Dr. Matias Ossandon Busch

Dr. Matias Ossandon Busch
Aktuelle Position

seit 10/20

Research Affiliate

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 9/20

Senior Economist

CEMLA

Forschungsschwerpunkte

  • empirische Bankenforschung
  • Zusammenspiel von Finanz- und Realwirtschaft
  • internationale Tätigkeiten von Banken in Entwicklungsländern
  • International Banking Library

Matias Ossandon Busch ist seit Oktober 2020 Research Affiliate am IWH. Er forscht zu Fragen der empirischen Bankenforschung und des Zusammenspiels von Finanz- und Realwirtschaft mit einem besonderen Fokus auf Entwicklungsländer.

Matias Ossandon Busch forscht seit September 2020 am Center for Latin American Monetary Studies (CEMLA). Zuvor war er am IWH tätig.

Ihr Kontakt

Dr. Matias Ossandon Busch
Dr. Matias Ossandon Busch
Mitglied - Abteilung Finanzmärkte
Nachricht senden Persönliche Seite

Publikationen

cover_journal-of-corporate-finance.jpg

Macroprudential Policy and Intra-Group Dynamics: The Effects of Reserve Requirements in Brazil

Chris Becker Matias Ossandon Busch Lena Tonzer

in: Journal of Corporate Finance, December 2021

Abstract

We examine whether liquidity dynamics within banking groups matter for the transmission of macroprudential policy. Using matched bank headquarters-branch data for identification, we find a lending channel of reserve requirements for municipal branches whose headquarters are more exposed to the policy tool. The result is driven by the 2008–2009 crisis and is stronger for state-owned branches, especially when being less profitable and liquidity constrained. These findings suggest the presence of cross-regional distributional effects of macroprudential policies operating via internal capital markets.

Publikation lesen

cover_journal-of-financial-stability.gif

Banking Globalization, Local Lending, and Labor Market Effects: Micro-level Evidence from Brazil

Felix Noth Matias Ossandon Busch

in: Journal of Financial Stability, October 2021

Abstract

Recent financial crises have prompted the interest in understanding how banking globalization interacts with domestic institutions in shaping foreign shocks’ transmission. This paper uses regional banking data from Brazil to show that a foreign funding shock to banks negatively affects lending by their regional branches. This effect increases in the presence of frictions in internal capital markets, which affect branches’ capacity to access funding from other regions via intra-bank linkages. These results also matter on an aggregate level, as municipality-level credit and job flows drop in exposed regions. Policies aiming to reduce the fragmented structure of regional banking markets could moderate the propagation of foreign shocks.

Publikation lesen

cover_finance-research-letters.png

Foreign Funding Shocks and the Lending Channel: Do Foreign Banks Adjust Differently?

Felix Noth Matias Ossandon Busch

in: Finance Research Letters, November 2016

Abstract

We document for a set of Latin American emerging countries that the different nature of foreign funding accessed by foreign and local banks affected their lending performance after September 2008. We show that lending growth was weaker for shock-affected foreign banks compared to shock-affected local banks. This evidence represents valuable policy information for regulators concerned with the stability and well-functioning of banking sectors.

Publikation lesen

Arbeitspapiere

cover_DP_2022-3.jpg

Stress-ridden Finance and Growth Losses: Does Financial Development Break the Link?

Serafín Martínez-Jaramillo Ricardo Montañez-Enríquez Matias Ossandon Busch Manuel Ramos-Francia Anahí Rodríguez-Martínez José Manuel Sánchez-Martínez

in: IWH Discussion Papers, Nr. 3, 2022

Abstract

Does financial development shield countries from the pass-through of financial shocks to real outcomes? We evaluate this question by characterising the probability density of expected GDP growth conditional on financial stability indicators in a panel of 28 countries. Our robust results unveil a non-linear nexus between financial stability and expected GDP growth, depending on countries’ degree of financial development. While both domestic and global financial factors affect expected growth, the effect of global factors is moderated by financial development. This result highlights a previously unexplored channel trough which financial development can break the link between financial (in)stability and GDP growth.

Publikation lesen

cover_DP_2018-12.jpg

Banks Fearing the Drought? Liquidity Hoarding as a Response to Idiosyncratic Interbank Funding Dry-ups

Helge Littke Matias Ossandon Busch

in: IWH Discussion Papers, Nr. 12, 2018

Abstract

Since the global financial crisis, economic literature has highlighted banks’ inclination to bolster up their liquid asset positions once the aggregate interbank funding market experiences a dry-up. To this regard, we show that liquidity hoarding and its detrimental effects on credit can also be triggered by idiosyncratic, i.e. bankspecific, interbank funding shocks with implications for monetary policy. Combining a unique data set of the Brazilian banking sector with a novel identification strategy enables us to overcome previous limitations for studying this phenomenon as a bankspecific event. This strategy further helps us to analyse how disruptions in the bank headquarters’ interbank market can lead to liquidity and lending adjustments at the regional bank branch level. From the perspective of the policy maker, understanding this market-to-market spillover effect is important as local bank branch markets are characterised by market concentration and relationship lending.

Publikation lesen
Mitglied der Leibniz-Gemeinschaft LogoTotal-Equality-LogoGefördert durch das BMWK