Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Report
Establishing credibility: evolving perceptions of the European Central Bank
Goldberg, Linda S.; Klein, Michael W. (2005)
The perceptions of a central bank's inflation aversion may reflect institutional structure or, more dynamically, the history of its policy decisions. In this paper, we present a novel empirical framework that uses high-frequency data to test for persistent variation in market perceptions of central bank inflation aversion. The first years of the European Central Bank (ECB) provide a natural experiment for this model. Tests of the effect of news announcements on the slope of yield curves in the euro area and on the euro-dollar exchange rate suggest that the market's perception of the policy ...
Staff Reports , Paper 231

Report
Does foreign ownership contribute to sounder banks in emerging markets? the Latin American experience
Dages, B. Gerard; Goldberg, Linda S.; Crystal, Jennifer S. (2001)
Foreign bank entrants into emerging markets are usually thought to improve the condition and performance of acquired institutions, and more generally to enhance local financial stability. We use bank-specific data for a range of Latin American countries since the mid-1990s to address elements of this claim. Across the seven largest countries, we find that the financial strength ratings of local banks acquired by foreign entities generally show a slight improvement relative to their domestic counterparts. Our more in-depth case studies of Chile, Colombia, and Argentina do not indicate striking ...
Staff Reports , Paper 137

Conference Paper
Foreign direct investment, trade, and real exchange rate linkages in developing countries
Goldberg, Linda S.; Klein, Michael W. (1996)
Proceedings

Report
International trade and factor mobility: an empirical investigation
Goldberg, Linda S.; Klein, Michael W. (1999)
Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding the growth in international trade. Thus, a full understanding of the relationship between trade in goods and FDI is important for obtaining a complete picture of the extent and sources of international linkages. We investigate whether FDI serves as a complement to trade or a substitute for trade based on the effects identified by the Rybczynski theorem whereby an increase in a factor of production used intensively in one sector affects production both in that sector and in other sectors. Using detailed data on ...
Staff Reports , Paper 81

Report
Global banks and international shock transmission: evidence from the crisis
Goldberg, Linda S.; Cetorelli, Nicola (2010)
Global banks played a significant role in transmitting the 2007-09 financial crisis to emerging-market economies. We examine adverse liquidity shocks on main developed-country banking systems and their relationships to emerging markets across Europe, Asia, and Latin America, isolating loan supply from loan demand effects. Loan supply in emerging markets across Europe, Asia, and Latin America was affected significantly through three separate channels: 1) a contraction in direct, cross-border lending by foreign banks; 2) a contraction in local lending by foreign banks' affiliates in emerging ...
Staff Reports , Paper 446

Journal Article
Central bank dollar swap lines and overseas dollar funding costs
Miu, Jason; Kennedy, Craig; Goldberg, Linda S. (2011-05)
In the decade prior to the financial crisis, foreign banks? exposure to U.S.-dollar-denominated assets rose dramatically. When the crisis hit in 2007, the banks? access to dollar funding came under severe duress, with potentially dire consequences for global financial markets that could also spread to U.S. markets. The Federal Reserve responded in December 2007 by establishing temporary reciprocal currency swap lines, or facilities, with foreign central banks designed to ameliorate dollar funding stresses overseas. Drawing on rigorous analysis of the swaps, as well as insights of other ...
Economic Policy Review , Volume 17 , Issue May , Pages 3-20

Report
Global Liquidity: Drivers, Volatility and Toolkits
Goldberg, Linda S. (2023-06-01)
Global liquidity refers to the volumes of financial flows—largely intermediated through global banks and non-bank financial institutions—that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context of the global financial cycle, depends on the characteristics and vulnerabilities of the institutions providing funding flows. Evidence from across empirical approaches and using granular data provides policy-relevant lessons. International spillovers of monetary policy and risk sentiment through ...
Staff Reports , Paper 1064

Discussion Paper
U.S. Banks' Changing Footprint at Home and Abroad
Goldberg, Linda S.; Wang, Rose (2015-11-30)
Some banks are quite simple, while others are part of complex multi-layered organizations with affiliates in many industries scattered all around the world. The latter organizations are formally called bank holding companies (BHCs). In this post, we investigate changes in BHC geography, especially the rising share of BHC affiliates in tax havens and financial secrecy jurisdictions. We examine what has happened since 2000, including the period after the 2010 Dodd-Frank Act, which focused attention on the size and complexity of large BHCs. Our analysis complements a growing body of work on ...
Liberty Street Economics , Paper 20151130

Report
Bank Complexity, Governance, and Risk
Goldberg, Linda S.; Correa, Ricardo (2020-06-01)
Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when organizations fail, the effect of complexity on BHCs’ broader risk profiles is less well understood. Business, organizational, and geographic complexity can engender explicit trade-offs between the agency problems that increase risk and the diversification, liquidity management, and synergy improvements that reduce risk. The outcomes of such trade-offs may ...
Staff Reports , Paper 930

Speech
Complexity in banking: stock-taking and the way forward: presentation at the Central Bank of Ireland’s Global Financial Linkages Conference
Goldberg, Linda S. (2018-02-01)
Keynote for Central Bank of Ireland/ Banque de France Conference on Global Financial Linkages.
Speech , Paper 272

show more (1)

show more (41)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords