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Growth Fragility and Systemic Risk Under Model Uncertainty

C. Herculano, Miguel - 2021

The link between systemic risk and economic growth is hard to study because the relationship is believed to be … nonlinear and systemic risk is unobservable. The myriad of measures proposed in the literature add model uncertainty as an … additional difficulty. I use a Bayesian quantile regression to study the relevance of 33 systemic risk indicators to explain …

Persistent link: https://www.econbiz.de/10013226354

The impact of macroprudential policy on credit growth in nine euro area economies

Lorenčič, Eva; Volčjak, Robert; Festić, Mejra - In: Naše gospodarstvo : NG 69 (2023) 2, pp. 1-14

In this paper, we investigate the impact of macroprudential policy measures (bundled together into a macroprudential policy index, MPI) on the non-financial corporate sector credit and household credit growth using a one-step system GMM empirical research method. The goal of our paper is to test...

Persistent link: https://www.econbiz.de/10014309997

Financial Innovation, Economic Growth, and the Consequences of Macroprudential Policies

Bernier, Maxence - 2019

We leverage a ‘catch-all' measure of financial innovation – research and development spending in the financial sector – to assess the net relationship between financial innovation and economic growth and evaluate the influence of macroprudential policy on this relationship. Using a panel...

Persistent link: https://www.econbiz.de/10012871971

Uncertain Booms and Fragility

Lee, Michael - 2017

I develop a framework of the build-up and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: normal times – periods of modest investment, and booms – periods of expansionary investment. Normal times occur when...

Persistent link: https://www.econbiz.de/10012960899

Inside shadow banking in China : credit driven growth vs. financial stability

Liang, Yan - In: Journal of economic issues : jei 50 (2016) 2, pp. 461-470

Persistent link: https://www.econbiz.de/10011615407

Predictability of economic slowdowns in advanced countries over eight centuries : the role of climate risks

Gupta, Rangan; Nel, Jacobus; Salisu, Afees A.; Ji, Qiang - In: Finance research letters 54 (2023), pp. 1-5

Persistent link: https://www.econbiz.de/10014472761

Mitigating Disaster Risks to Sustain Growth

Hong, Harrison - 2020

We provide the planner's solution to a model where households learn from exogenous natural disaster arrivals about arrival rates and spend to mitigate future damages. Mitigation cannot be decentralized due to positive externalities from curtailing aggregate risks. First-best can be implemented...

Persistent link: https://www.econbiz.de/10012482023