of non-financial firms’ leverage carry over to banks, except for banks whose capital ratio is close to the regulatory … important determinant of banks’ capital structures and that banks’ leverage converges to bank specific, time invariant targets. …

relationship between leverage and excess returns. Notably, instead, real exchange rate depreciations increase excess returns …

choose both asset volatility and leverage, and identify how monetary policy transmits to bank risk. Subsequently, we …

. Leverage has contributed more than equity to fluctuations in total assets. All three variables are several times more volatile … than GDP. Leverage has been positively correlated with assets and (to a lesser extent) GDP, and negatively correlated with … to endogenous leverage constraints, and assess its ability to replicate the facts. In the model, banks borrow in the form …

increased over time. Real estate funds (REIFs) and other housing investment …rms leverage large-scale buy …

increases in financial and macroeconomic leverage. …

Market participants use leveraged derivatives to gain access to equity market exposure through broker banks. Leverage … prices due to market impact. The impact is amplified because of the leverage and when counterparties are exposed to multiple …

countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …