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Liquidity and Financial Cycles
Adrian, Tobias; Shin, Hyun Song - 2013
. Changes in aggregate balance sheets for intermediaries forecast changes in risk appetite in financial markets, as measured by … the innovations in the VIX index. Aggregate liquidity can be seen as the rate of change of the aggregate balance sheet of …
Persistent link: https://www.econbiz.de/10014216388
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Liquidity risk and contagion
Cifuentes, Rodrigo (contributor);  … - 2005
Persistent link: https://www.econbiz.de/10003045019
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Bank Capital and Dividend Externalities
Acharya, Viral V. - 2016
channel, one bank's capital policy affects the equity value and risk of default of other banks. In a model where such …
Persistent link: https://www.econbiz.de/10012983304
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Marking to Market, Liquidity and Financial Stability
Plantin, Guillaume; Sapra, Haresh; Shin, Hyun Song - 2010
This paper explores the financial stability implications of mark-to-market accounting, in particular its tendency to amplify financial cycles and the "reach for yield". Market prices play a dual role. Not only do they serve as a signal of the underlying fundamentals and the actions taken by...
Persistent link: https://www.econbiz.de/10014047345
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Foreshadowing LTCM : the crisis of 1763
Schnabel, Isabel; Shin, Hyun Song - 2002
Persistent link: https://www.econbiz.de/10001814106
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Crisis Resolution and Bank Liquidity
Acharya, Viral V. - 2010
What is the effect of financial crises and their resolution on banks' choice of liquidity? When banks have relative … resulting choice of bank liquidity is counter-cyclical, inefficiently low during economic booms but excessively high during … ex post, they affect bank liquidity in subtle ways: Liquidity support to failed banks or unconditional support to …
Persistent link: https://www.econbiz.de/10013148772
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Procyclicality and monetary aggregates
Shin, Hyun Song; Shin, Kwanho - 2011
exchange liabilities, increasing the vulnerability to the outbreak of "twin crises" where a liquidity crisis is compounded by a …
Persistent link: https://www.econbiz.de/10008934153
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Procyclicality and Monetary Aggregates
Shin, Hyun Song - 2011
exchange liabilities, increasing the vulnerability to the outbreak of "twin crises" where a liquidity crisis is compounded by a …
Persistent link: https://www.econbiz.de/10013129118
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Procyclicality and Monetary Aggregates
Shin, Hyun Song - 2011
exchange liabilities, increasing the vulnerability to the outbreak of "twin crises" where a liquidity crisis is compounded by a …
Persistent link: https://www.econbiz.de/10012461822
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The cyclicality of leverage
Adrian, Tobias; Boyarchenko, Nina; Shin, Hyun Song - 2015
This paper studies the question of the economic scale of financial institutions. We show that banks actively smooth book equity by adjusting payouts to achieve a desired trajectory of book equity. The countercyclical nature of net payouts of financial institutions leads to procyclical book...
Persistent link: https://www.econbiz.de/10011342855