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A 2012 paper by Goodhart, Kashyap, Tsomocos, and Vardoulakis (GKTV) proposes a dynamic general equilibrium framework that provides a conceptual - and to some extent quantitative - framework for the analysis of macroprudential policies. The distinguishing feature of GKTV's paper relative to any...
Persistent link: https://www.econbiz.de/10009669924
Persistent link: https://www.econbiz.de/10011790739
The current financial crisis has highlighted the growing importance of the “shadow banking system,” which grew out of … the securitization of assets and the integration of banking with capital market developments. This trend has been most … system, banking and capital market developments are inseparable: Funding conditions are closely tied to fluctuations in the …
Persistent link: https://www.econbiz.de/10003864595
institutions (SIFIs), 2) shadow banking, 3) asset markets, and 4) the nonfinancial sector. This framework also highlights how …
Persistent link: https://www.econbiz.de/10009721298
institutions (SIFIs), (2) shadow banking, (3) asset markets, and (4) the nonfinancial sector. This framework also highlights how …
Persistent link: https://www.econbiz.de/10013082225
institutions (SIFIs), 2) shadow banking, 3) asset markets, and 4) the nonfinancial sector. This framework also highlights how …
Persistent link: https://www.econbiz.de/10013085939
-09. We review the rapidly growing literature on shadow banking and provide a conceptual framework for its regulation. Since … the financial crisis, regulatory reform efforts have aimed at strengthening the stability of the shadow banking system. We … accountants, we find that progress in achieving a more stable shadow banking system has been uneven. …
Persistent link: https://www.econbiz.de/10010283536
We reconsider the role of financial intermediaries in monetary economics, and explore the hypothesis that the financial intermediary sector is the engine that drives the financial cycle through fluctuations in the price of risk. In this framework, balance sheet quantities emerge as a key...
Persistent link: https://www.econbiz.de/10014025668
Since the global financial crisis of 2007-09, policymakers and academics around the world have advocated the use of prudential tools for macroprudential purposes. This paper presents a macroprudential tabletop exercise that aimed at confronting Federal Reserve Bank presidents with a plausible,...
Persistent link: https://www.econbiz.de/10012970891
Since the global financial crisis of 2007-09, policy makers and academics around the world have advocated the use of prudential tools for macroprudential purposes. This paper presents a macroprudential tabletop exercise that aimed at confronting Federal Reserve Bank presidents with a plausible,...
Persistent link: https://www.econbiz.de/10012948278