a welcome step to increase the resilience of banks and households to property cycles and help moderate such cycles in …

closure of the major commercial banks for three months. We use synthetic control to estimate how the economy would have … crunch, a liquidity shock, and rising transaction costs. This case study highlights the importance of banks for economic …

closure of the major commercial banks for three months. We use synthetic control to estimate how the economy would have … crunch, a liquidity shock, and rising transaction costs. This case study highlights the importance of banks for economic …