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Intermediary leverage cycles and financial stability
Adrian, Tobias; Boyarchenko, Nina - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to … risk ; macroprudential policy ; DSGE ; amplification ; capital regulation ; financial intermediation …
Persistent link: https://www.econbiz.de/10009580891
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Shadow banking : financial intermediation beyond banks
Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018
Persistent link: https://www.econbiz.de/10011790739
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Intermediary Leverage Cycles and Financial Stability
Adrian, Tobias - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to …
Persistent link: https://www.econbiz.de/10013101656
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Intermediary Leverage Cycles and Financial Stability
Adrian, Tobias - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to …
Persistent link: https://www.econbiz.de/10013101934
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Liquidity Policies and Systemic Risk
Adrian, Tobias - 2014
' implications for household welfare. Within the context of our model, liquidity requirements are preferable to capital requirements …
Persistent link: https://www.econbiz.de/10013061069
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Macroprudential policy : a blessing or a curse?
Popoyan, Lilit - 2016
After the destructive impact of the global financial crisis of 2008, many believe that pre-crisis financial market regulation did not take the "big picture" of the system suffciently into account and, subsequently, financial supervision mainly "missed the forest for the trees". As a result, the...
Persistent link: https://www.econbiz.de/10011477338
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The funds concentration effect and discriminatory bailout
Erlenmaier, Ulrich; Gersbach, Hans - 2001
In the presence of macroeconomic shocks severe enough to threaten the liquidity or solvency of the banking system, the regulator can rely on the funds concentration effect to save long-term investment projects. Some banks are forced into bankruptcy with the result that other banks obtain more...
Persistent link: https://www.econbiz.de/10011400865
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Firm subsidies, financial intermediation, and bank stability
Kazakov, Aleksandr; Koetter, Michael; Titze, Mirko; … - 2022
We use granular project-level information for the largest regional economic development program in German history to study whether government subsidies to firms affect the quantity and quality of bank lending. We combine the universe of recipient firms under the Improvement of Regional Economic...
Persistent link: https://www.econbiz.de/10013412630
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The effect of firm subsidies on credit markets
Kazakov, Aleksandr; Koetter, Michael; Titze, Mirko; … - Leibniz-Institut für Wirtschaftsforschung Halle - 2024 - This version: 11.09.2024
We use project-level information for the largest regional economic development program in German history to study how government subsidies to firms affect credit markets. We identify credit market responses by considering both, bank lending and firm borrowing during 1998-2019. We find that...
Persistent link: https://www.econbiz.de/10015062319
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Bank Liquidity Creation and Systemic Risk
Davydov, Denis - 2020
This paper examines the linkage between bank liquidity creation and systemic risk. Using quarterly data on U.S. bank holding companies from 2003 to 2016, we document that liquidity creation decreases systemic risk at the individual bank level after controlling for bank size, asset risk, and...
Persistent link: https://www.econbiz.de/10012838775