Franklin

Bank Credit, Asset Prices and Financial Stability [electronic resource] : Evidence From French Banks, Pouvelle, Cyril.

Author/Creator:
Pouvelle, Cyril.
Publication:
Washington, D.C. : International Monetary Fund, 2012.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 12/103.
IMF Working Papers; Working Paper No. 12/103
Format/Description:
Government document
Book
1 online resource (40 p.)
Local subjects:
Asset markets.
Asset Pricing.
Bank balance sheet.
Bank balance sheets.
Bank capital.
Bank credit.
Bank customer.
Bank customers.
Bank lending.
Bank loans.
Bank mergers.
Bank runs.
Bank stock.
Banking.
Banking crises.
Banking sector.
Banking system.
Banking systems.
Banks.
Banks assets.
Banks balance sheet.
Banks balance sheets.
Banks loans.
Bond.
Bond yield.
Capital regulation.
Cash flows.
Corporate sector.
Credit.
Credit demand.
Credit expansion.
Deposit growth.
Deposit insurance.
Economic models.
Equity capital.
Financial cycles.
Financial instability.
Financial institutions.
Financial intermediaries.
Financial intermediation.
Financial markets.
Financial stability.
Government bond.
Government bond yield.
Household credit.
Housing prices.
Interbank market.
Money Multipliers.
Money Supply.
Moral hazard.
Mortgage loan.
Mortgages.
Other Depository Institutions.
Return on equity.
Stock exchange.
Stock market.
Stock market volatility.
Stock price.
Stock price index.
Stock prices.
Transmission of monetary policy.
Var model.
France.
Summary:
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data at a quarterly frequency, stock price growth is shown to have a significant effect on lending growth over the whole period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect during periods of financial instability only, even after controlling for credit demand effects. These results show that credit demand factors do play a large role but also provide evidence of tighter credit constraints on households in financial instability periods.
Notes:
Description based on print version record.
Contributor:
Pouvelle, Cyril.
Other format:
Print Version:
ISBN:
1475502931:
9781475502930
ISSN:
1018-5941
Publisher Number:
10.5089/9781475502930.001
Access Restriction:
Restricted for use by site license.
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