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tax rates. An implication is that corporate taxation of bank income contributed to excessive growth in securitization … tax-motivated securitization …
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securitization at banks that are constrained in funding markets, while it did not affect securitization at unconstrained banks. This … is consistent with prior theory suggesting that the tax effects of securitization depend on the extent to which banks … face funding constraints. Our results suggest that a country's tax system has distorting effects on banks' securitization …
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securitization at banks that are constrained in funding markets, while it did not affect securitization at unconstrained banks. This … is consistent with prior theory suggesting that the tax effects of securitization depend on the extent to which banks … face funding constraints. Our results suggest that a country's tax system has distorting effects on banks' securitization …
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Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization. …
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