Mittnik, Stefan; Semmler, Willi - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2011
This paper studies the issue of local instability of the banking sector and how it may spillover to the macroeconomy. The banking sector is considered here as representing a wealth fund that accumulates capital assets, can heavily borrow and pays bonuses. We presume that the banking system faces...
