What drives the demand of monetary financial institutions for domestic government bonds? : empirical evidence on the impact of Basel II and Basel III


Lang, Michael ; Schröder, Michael


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URL: https://ub-madoc.bib.uni-mannheim.de/37523
URN: urn:nbn:de:bsz:180-madoc-375230
Document Type: Working paper
Year of publication: 2014
The title of a journal, publication series: ZEW Discussion Papers
Volume: 14-123
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G11 , G21 , G28,
Keywords (English): Monetary financial institutions , financial sector regulation , sovereign bond holdings , investment incentives
Abstract: This paper examines the treatment of sovereign debt exposure within the Basel framework and measures the impact of bank regulation on the demand of Monetary Financial Institutions (MFI) for marketable sovereign debt. Our results suggest that bank regulation has a significant positive impact on MFI demand for domestic government securities. The results are representative for the MFI in the euro zone. They remain highly robust and significant after controlling for other influential factors and potential endogeneity.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Lang, Michael ; Schröder, Michael (2014) What drives the demand of monetary financial institutions for domestic government bonds? : empirical evidence on the impact of Basel II and Basel III. Open Access ZEW Discussion Papers Mannheim 14-123 [Working paper]
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