The macroeconomic effects of shadow banking panics

Johannes Poeschl

We study the effects of shadow banking panics in a macroeconomic model with a rich financial system, including deposit-financed retail banks and wholesale-financed shadow banks. The model can quantitatively match the dynamics of key variables around the US financial crisis. Wholesale funding market interventions akin to those implemented by the Federal Reserve in 2008 reduced the fall in output by about half a percentage point. Generally, central bank interventions reduce output volatility and the likelihood of banking panics.

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Year of publication:	[2020]
Authors:	Poeschl, Johannes
Publisher:	Copenhagen : Danmarks Nationalbank
Subject:	Financial Institutions \| Financial Stability \| Interconnectedness \| Monetary Policy \| Geldpolitik \| Monetary policy \| Finanzkrise \| Financial crisis \| Bankenkrise \| Banking crisis \| Wirkungsanalyse \| Impact assessment \| Informeller Finanzsektor \| Informal finance \| Finanzsektor \| Financial sector \| Finanzintermediation \| Financial intermediation

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Extent:	1 Online-Ressource (circa 52 Seiten) Illustrationen
Series:	Working paper / Danmarks Nationalbank ; no. 158 (23 June 2020)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/227876 [Handle]
Classification:	E44 - Financial Markets and the Macroeconomy ; G24 - Investment Banking; Venture Capital; Brokerage ; G28 - Government Policy and Regulation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012233428