Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization …

theoretically and empirically motivated banking sector characteristics, and a Bayesian inference in panel estimation as a …

substantially, reflecting a change in the nature of the financial intermediation process. Together with increased securitization of … portfolio of assets, have also become more relevant. As a result, the volume of securitization, although traditionally … associated with credit markets, influences the outcomes of other asset markets. We investigate the link between securitization …