This paper analyzes the linkages between credit supply conditions and bank lending. Building on the recent work of Gilchrist and Zakraǰsek [2011], we use the excess bond premium—a component of corporate credit spreads designed to measure shifts in the risk attitudes of financial intermediaries—to empirically identify credit supply shocks. Our results indicate that shocks to the excess bond prem...

In the wake of the 2008 financial tsunami, existing methods and tools for managing financial risk have been criticized for weaknesses in monitoring and alleviating risks at the systemic level. A 2009 article in Nature suggested new approaches to modeling economic meltdowns are needed to prevent future financial crises. However, existing studies have not focused on analysis of systemic risk at t...

In the aftermath of the global financial crisis (2007-2009), policymakers in the developing countries and emerging economies have generally relied on macroprudential policies to achieve financial stability. Since the banking systemchr('39')s vulnerability plays an essential role in financial instability, and the banking systemchr('39')s stability is exposed to vulnerability, we examine macropru...

he traditional banking business has been to make long-term loans and fund them by issuing short-dated deposits, a process that is commonly described as “borrowing short and lending long.” In recent years, fundamental economic forces have undercut the traditional role of banks in financial intermediation. As a source of funds for financial intermediaries, deposits have steadily diminished in imp...

Software services (such as e-procurement and e-payment) are fundamental to large-scale systems that cross enterprise boundaries by forming e-business marketplaces. To enable complex business collaborations, executable processes can combine these services into service networks1 in which executable process descriptions coordinate service interactions. (We can write such descriptions with Business...

In the wake of the 2008 financial tsunami, existing methods and tools for managing financial risks have been criticized for weaknesses in monitoring and alleviating risks at the systemic level. A 2009 article in Nature suggested new approaches to modeling economic meltdowns are needed to prevent future financial crises. However, existing studies have not focused on analysis of systemic risk at ...

Banks need to document their business processes for multiple purposes. Hence, efficiently documenting and automatically analyzing business process models becomes increasingly important in order to achieve additional value from modeling efforts. However, recent research indicates that banks are not very satisfied with general purpose business process modeling languages. Our research indicates th...

Although business process management ( ̳BPM‘) is a popular concept, it has not yet been properly theoretically grounded. This leads to problems in identifying both generic and case specific critical success factors of BPM programs. The paper proposes an underlying theoretical framework with the utilization of three theories: contingency, dynamic capabilities and task technology fit. The main pre...