We study the relation between the credit cycle and macro-economic fundamentals in an intensity-based framework. Using … the credit cycle from the micro rating data. We relate this cycle to the business cycle, bank lending conditions, and … financial market variables. In line with earlier studies, these variables appear to explain part of the credit cycle. As our …

credit issuance emerges. The amount of credit in the economy increases. BHCs with large banks off er higher guarantees than …

circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel …

This paper discusses liquidity regulation when short-term funding enables credit growth but generates negative systemic … incentives for risk creation.When banks differ in credit opportunities, a Pigovian tax on short-term funding is efficient in … containing risk and preserving credit quality, while quantity-based fundingratios are distorsionary. Liquidity buffers are either …

discipline by monitoring counterparty credit risk and theories highlighting that secured loans are less informational sensitive …, we find that banks with low credit worthiness replace unsecured borrowing with secured loans. Moreover, riskier lenders …