Browsing Norges Banks vitenarkiv by Author "Liaudinskas, Karolis"

Now showing items 1-8 of 8

    • Estimating firms’ bank-switching costs 

      Liaudinskas, Karolis; Grigaitė, Kristina (Working Paper;4/2021, Working paper, 2021)
      We explore Lithuanian credit register data and two bank closures to provide a novel estimate of firms’ bank-switching costs and a novel identification of the hold-up problem. We show that when a distressed bank’s closure ...

    • Human vs. Machine: Disposition Effect among Algorithmic and Human Day Traders 

      Liaudinskas, Karolis (Working paper;6/2022, Working paper, 2022)
      This paper studies whether and why algorithmic traders exhibit one of the most broadlydocumented behavioral puzzles – the disposition effect. We use trade data from the NASDAQ Copenhagen Stock Exchange merged with the ...

    • Monetary policy spillover to small open economies: Is the transmission different under low interest rates? 

      Cao, Jin; Dinger, Valeriya; Gómez, Tomás; Gric, Zuzana; Hodula, Martin; Jara, Alejandro; Juelsrud, Ragnar; Liaudinskas, Karolis; Malovaná, Simona; Terajima, Yaz (Working Paper;12/2021, Working paper, 2021)
      We explore the impact of low and negative monetary policy rates in core world economies on bank lending in four small open economies – Canada, Chile, the Czech Republic and Norway – using confidential bank-level data. Our ...

    • New microdata for loan defaults provide better estimates of banks’ credit losses 

      Hjelseth, Ida Nervik; Liaudinskas, Karolis; Thuve, Sara Kirkeby (Staff Memo;10/2024, Working paper, 2024)
      Loans to non-financial firms are the main source of banks’ losses. In order to assess credit risk, Norges Bank has long used models to assess firms’ bankruptcy probability. However, the banks’ credit losses are more closely ...

    • Nye mikrodata for misligholdte lån gir bedre anslag for bankenes utlånstap 

      Hjelseth, Ida Nervik; Liaudinskas, Karolis; Thuve, Sara Kirkeby (Staff Memo;10/2024, Working paper, 2024)
      Lån til ikke-finansielle foretak er den største kilden til tap i bankene. For å vurdere kredittrisikoen, har Norges Bank i lang tid benyttet modeller for foretakenes konkurssannsynligheter. Bankenes utlånstap er imidlertid ...

    • Record increase in payment remarks: A red flag for Norwegian firms? 

      Hjelseth, Ida Nervik; Liaudinskas, Karolis (Staff Memo;9/2024, Working paper, 2024)
      This staff memo documents a detailed analysis of the payment remark database to better understand whether the recent increase in payment remarks signals an impending wave of bankruptcies. We find that the number of ...

    • Relationship lending and monetary policy pass-through 

      Cao, Jin; Dubuis, Pierre; Liaudinskas, Karolis (Working paper;1/2025, Working paper, 2025)
      This paper investigates the link between bank-firm lending relationships and monetary policy pass-through, focusing on episodes of low interest rates. Using administrative tax and bank supervisory data ranging from 1997 ...

    • Trade conflicts and credit supply spillovers : Evidence from the Nobel Peace Prize trade shock 

      Cao, Jin; Dinger, Valeriya; Juelsrud, Ragnar E.; Liaudinskas, Karolis (Working paper;6/2023, Working paper, 2023)
      In this paper, we examine how a trade conflict’s impact on the real economy can be amplified by financial intermediaries. After China’s implicit ban on the imports of Norwegian salmon in response to the decision on 2010 ...