scholarly journals Cyclical Risk Aversion, Precautionary Saving and Monetary Policy

2011 ◽  
Author(s):  
Bianca De Paoli ◽  
Pawel Zabczyk
Keyword(s):  
Monetary Policy ◽  
Risk Aversion ◽  
Precautionary Saving

scholarly journals Bank risk aversion and the risk-taking channel of monetary policy in the euro area

2017 ◽  
Vol 64 (5) ◽  
pp. 607-621
Author(s):  
Silvo Dajcman
Keyword(s):  
Monetary Policy ◽  
Risk Aversion ◽  
Euro Area ◽  
Risk Taking ◽  
Academic Research ◽  
Bank Lending ◽  
Bank Risk ◽  
Econometric Methodology ◽  
Survey Responses ◽  
Panel Vector Autoregression

The financial crisis has provoked economic policy interest and academic research on the functioning and empirical verification of the risktaking channel of monetary policy. The results of this paper demonstrate how the European Central Bank?s Bank lending survey responses can be used to construct a ?pure? risk aversion indicator of banks? business lending. Using panel vector autoregression econometric methodology, we find evidence that the monetary policy affects the ?pure? risk aversion of banks and later affects business loans and inflation in the euro area. The results suggest that the risktaking channel in the euro area is operational.

Precautionary saving and risk aversion

1988 ◽  
Vol 27 (3) ◽  
pp. 223-227 ◽  
Author(s):  
Uzi Segal ◽  
Avia Spivak ◽  
Joseph Zeira
Keyword(s):  
Risk Aversion ◽  
Precautionary Saving
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