Search Results

Showing results 1 to 10 of approximately 85.

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Discussion Paper
Do the Fed’s International Dollar Liquidity Facilities Affect Offshore Dollar Funding Markets and Credit?
Goldberg, Linda S.; Ravazzolo, Fabiola (2021-12-20)
At the outbreak of the pandemic, in March 2020, the Federal Reserve implemented a suite of facilities, including two associated with international dollar liquidity—the central bank swap lines and the Foreign International Monetary Authorities (FIMA) repo facility—to provide dollar liquidity. This post discusses recent evidence showing the contributions of these facilities to financial and economic stability, highlighting evidence from recent research by Goldberg and Ravazzolo (December 2021).
Liberty Street Economics , Paper 20211220

Journal Article
How economic news moves markets
Sacarny, Adam; Bartolini, Leonardo; Goldberg, Linda S. (2008-08)
Exploring how the release of new economic data affects asset prices in the stock, bond, and foreign exchange markets, the authors find that only a few announcements - the nonfarm payroll numbers, the GDP advance release, and a private sector manufacturing report - generate price responses that are economically significant and measurably persistent. Bond yields show the strongest response and stock prices the weakest. The authors' analysis of the direction of these effects suggests that news of stronger-than-expected growth and inflation generally prompts a rise in bond yields and the exchange ...
Current Issues in Economics and Finance , Volume 14 , Issue Aug

Discussion Paper
Global Banks and Their Internal Capital Markets during the Crisis
Goldberg, Linda S.; Cetorelli, Nicola (2011-07-11)
As financial markets have become increasingly globalized, banks have developed growing networks of branches and subsidiaries in foreign countries. This expansion of banking across borders is changing the way banks manage their balance sheets, and the ways home markets and foreign markets respond to disturbances to financial markets. Based on our recent research, this post shows how global banks used their foreign affiliates for accessing scarce dollars during the financial crisis—a liquidity strategy that helped transmit shocks internationally while reducing some of the consequences in the ...
Liberty Street Economics , Paper 20110711

Journal Article
Measures of global bank complexity
Goldberg, Linda S.; Cetorelli, Nicola (2014-12)
Size and complexity are customarily viewed as contributing to the too-big-to-fail status of financial institutions. Yet there is no standard accepted metric for the complexity of a ?typical? financial firm, much less for a large firm engaged in global finance. This article provides perspective on the issue of complexity by examining the number, types, and geographical spread of global financial institutions? affiliates. The authors show that standard measures of institution size are strongly related to total counts of affiliates in an organization, but are more weakly aligned with other ...
Economic Policy Review , Issue Dec , Pages 107-126

Report
Follow the money: quantifying domestic effects of foreign bank shocks in the Great Recession
Goldberg, Linda S.; Cetorelli, Nicola (2012)
Foreign banks pulled significant funding from their U.S. branches during the Great Recession. We estimate that the average-sized branch experienced a 12 percent net internal fund ?withdrawal,? with the fund transfer disproportionately bigger for larger branches. This internal shock to the balance sheets of U.S. branches of foreign banks had sizable effects on their lending. On average, for each dollar of funds transferred internally to the parent, branches decreased lending supply by about forty to fifty cents. However, the extent of the lending effects was very different across branches, ...
Staff Reports , Paper 545

Report
International capital flow pressures
Krogstrup, Signe; Goldberg, Linda S. (2018-02-01)
This paper presents a new measure of capital flow pressures in the form of a recast exchange market pressure index. The measure captures pressures that materialize in actual international capital flows as well as pressures that result in exchange rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes a global risk response index, which reflects the country-specific sensitivity of capital flow pressures to measures of ...
Staff Reports , Paper 834

Journal Article
The evolving external orientation of manufacturing: a profile of four countries
Goldberg, Linda S.; Campa, Jose Manuel (1997-07)
Using more than two decades of industry data, the authors profile the external orientation of manufacturing industries in the United States, Canada, the United Kingdom, and Japan. They use the term "external orientation" to describe the potential exposure of an industry's revenues and costs to world events through exports, imports, and imported inputs. For each major manufacturing industry, the authors provide histories of the share of total revenues earned in foreign markets, the role of imports in domestic consumption, and the costs of imported inputs in total production. In addition, ...
Economic Policy Review , Volume 3 , Issue Jul , Pages 53-81

Journal Article
Securities trading and settlement in Europe: issues and outlook
Sarkar, Asani; Goldberg, Linda S.; Kambhu, John; Mahoney, James M.; Radecki, Lawrence J. (2002-04)
The institutional arrangements for trading and settling securities in Europe remain fragmented along national lines, making cross-border trading costly. Consolidation efforts are under way, however, and major market centers have now emerged in France, Germany, and the United Kingdom. Although the restructuring of trading and settlement systems should bring the European Community closer to its goal of a single capital market, changes in corporate governance and the competitive environment may raise significant regulatory issues.
Current Issues in Economics and Finance , Volume 8 , Issue Apr

Discussion Paper
How Do Liquidity Conditions Affect U.S. Bank Lending?
Rice, Tara N.; Goldberg, Linda S.; Correa, Ricardo (2014-10-15)
The recent financial crisis underscored the importance of understanding how liquidity conditions for banks (or other financial institutions) influence the banks’ lending to domestic and foreign customers. Our recent research examines the domestic and international lending responses to liquidity risks across different types of large U.S. banks before, during, and after the global financial crisis. The analysis compares large global U.S. banks—that is, those that have offices in foreign countries and are able to move liquidity from affiliates across borders—with large domestic U.S. banks, ...
Liberty Street Economics , Paper 20141015

Report
Micro, macro, and strategic forces in international trade invoicing
Tille, Cedric; Goldberg, Linda S. (2009)
We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. We use the model to investigate the implications of imperfect financial intermediation for familiar monetary policy prescriptions and to consider additional dimensions of central bank policy--variations in the size and composition of the central bank's balance sheet as well as payment of interest on reserves--alongside the traditional question ...
Staff Reports , Paper 405

show more (1)

show more (34)

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