Giordana, Gastón Andrés; Schumacher, Ingmar - Central Bank of Luxembourg - 2011
In this article we investigate the leverage cycle in Luxembourg?s banking sector using individual bank-level data for … investigate the role of bank characteristics as well as real, financial and expectation variables that proxy for macroeconomic … be explained by increasing bond prices which induce depositors to shift their funds from bank deposits into bonds. We …