BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Talks.cam//talks.cam.ac.uk//
X-WR-CALNAME:Talks.cam
BEGIN:VEVENT
SUMMARY:Emergence of the EU Corporate Lending Network - Halaj\, G (Europea
 n Central Bank)
DTSTART:20140826T100000Z
DTEND:20140826T103000Z
UID:TALK53876@talks.cam.ac.uk
CONTACT:Mustapha Amrani
DESCRIPTION:Joint with U. Kochanska\, C. Kok\n\nThis paper uses network fo
 rmation techniques based on the theoretical framework of Halaj and Kok (20
 14) to construct networks of lending relationships between a large sample 
 of banks and non-financial corporations in the EU. Networks of bank-firm l
 ending relationships provide an alternative approach to studying real-fina
 ncial linkages\, which takes into account the heterogeneous characteristic
 s of individual banks and firms on the propagation of shocks between the f
 inancial sector and the real economy. One particular strength of the model
  is related to the fact that the proposed framework provides an assessment
  not only of how banks are directly related to each other in the interbank
  market but also how they may be indirectly related (due to common exposur
 es) via their corporate lending relationships. The model can be used to co
 nduct counter-factual simulations of the contagion effects arising when in
 dividual or groups of banks and firms are hit by shocks. This could allow 
 policy makers to gauge specific vulnerabilities in the financial system ev
 olving around the lending relationships between banks and their (corporate
 ) borrowers.\n
LOCATION:Seminar Room 1\, Newton Institute
END:VEVENT
END:VCALENDAR