Within-Bank Spillovers of Real Estate Shocks
Within-Bank Spillovers of Real Estate Shocks
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房地产冲击的银行内部溢出效应
DOI：
10.2139/ssrn.2332177
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发表时间：
2017
期刊：
影响因子：
--
通讯作者：
Kathy Yuan
中科院分区：
文献类型：
--
作者：
V. Cuñat;D. Cvijanovic;Kathy Yuan
通过将银行视为不同地点的资产组合，我们研究了负面的真实的房地产冲击在银行业务领域和地理位置之间的传递，同时控制了当地需求冲击和银行位置特定的因素。受影响的银行承认资本损失，并全面削减贷款，这表明危机在各业务部门和地区蔓延。除了降低运营成本和耗尽流动性外，它们还展期和无法清算问题贷款。这些结果为银行资产负债表传导和放大真实的房地产冲击提供了证据。
By considering banks as portfolios of assets in different locations, we study the transmission of negative real estate shocks across bank’s business areas and geographical locations while controlling for local demand shocks and bank location–specific factors. Affected banks recognize capital losses and cut lending across the board indicating contagion across business lines and locations. They also roll over and fail to liquidate problematic loans, in addition to reducing their operational costs and depleting their liquidity. These results provide evidence of bank balance sheet transmission and amplification of real estate shocks.