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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

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

Intermediary balance sheets

Adrian, Tobias; Boyarchenko, Nina - 2013

the bank sector is highly procyclical, the leverage of the nonbank financial sector is acyclical. We propose a theory of a …

Persistent link: https://www.econbiz.de/10010202648

Intermediary Leverage Cycles and Financial Stability

Adrian, Tobias - 2012

Persistent link: https://www.econbiz.de/10013101656

Intermediary Leverage Cycles and Financial Stability

Adrian, Tobias - 2012

Persistent link: https://www.econbiz.de/10013101934

Banking networks and economic growth: from idiosyncratic shocks to aggregate fluctuations

Kundu, Shohini; Vats, Nishant - 2021

This paper explores the transmission of non-capital shocks through banking networks. We develop a methodology to construct non-capital (idiosyncratic) shocks, using labor productivity shocks to large firms. We document a change in the relationship between foreign idiosyncratic shocks and...