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The returns on bank stocks rise and fall with the business cycle, making bank equity financing cheaper in the boom and dearer during a recession. This provides support for prudential tools that give incentives for banks to build capital buffers at times when the cost of equity is lower. In...
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Ursachen von Kreditzyklen unter Berücksichtigung vollkommener und begrenzter Rationalität -- Anreizsysteme und Kreditzyklen in den USA -- Anreizsysteme und Kreditzyklen in mehreren Industrienationen.
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