govern the unobserved process driving financial shocks to the leverage ratio, the responses of output and other aggregates … data on leverage, debt-to-GDP and land value-to-GDP ratios for 1996Q1-2008Q4, learning amplifies leverage shocks by a … factor of about three, relative to rational expectations. When fed with actual leverage innovations observed over that period …

of deposit insurance adoption on individual bank leverage. Using a panel of banks across 117 countries during the period … 1986-2011, I show that deposit insurance adoption pushes banks to increase significantly their leverage by reducing their … capital buffer. This increase in bank leverage then translates into higher probability of insolvency. Most importantly, I …

lent on) can be sold, and recursive use of securities as collateral allows agents to leverage their positions. A binding …

Better leverage of public funding is essential in order to trigger the invest-ment needed for energy efficiency. In … effect this has on the degree of leverage. We conclude that the design of Energy Savings Obligations largely determines the … degree of leverage and that that there appears to be a trade-off between high leverage and additionality. …

Following the global crisis, the stimulus package of 2009-2010, with its huge expansion of credit, marked the end of …

-hypothecation (e.g., through segregated haircut rules or explicit leverage constraints on haircut collecting dealers), (1) trading …