percentage change in GDP, an income surprise variable combined with lagged aggregate indebtedness, a real interest rate surprise … variable combined with lagged aggregate indebtedness, and a deregulation dummy.The innovation in this paper is the use of … surprise variables based on macroeconomic forecasts.According to the results, high indebtedness combined with negative …

deregulation in Finland was similar to that in the other Nordic countries. As in Norway and Sweden, household indebtedness started … loans. Measured by the ratio of household debt to annual disposable income, household indebtedness peaked in 1990 at more … plummeted. High indebtedness and overcapacity especially in the domestic sector will require several years of adjusting. …

percentage change in GDP, an income surprise variable combined with lagged aggregate indebtedness, a real interest rate surprise … variable combined with lagged aggregate indebtedness, and a deregulation dummy. The innovation in this paper is the use of … surprise variables based on macroeconomic forecasts. According to the results, high indebtedness combined with negative …

accumulate a buffer of liquid assets, or strengthen transparency to communicate solvency. While a liquidity buffer provides … complete insurance against small shocks, transparency covers also large shocks but imperfectly. Due to leverage, an unregulated … bank may choose insufficient liquidity buffers and transparency. The regulatory response is constained: while liquidity …

The study of transparency is increasingly a more topical, broadly relevant, but also more under-researched enterprise …. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a … series of yet unresolved debates, but has also linked this relatively narrow problem to the broader context of transparency …