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. …

the second essay I examine securitization transactions by U.S. banks, where they provide an explicit guarantee. Due to the … balance sheet. This particular securitization is beneficial for banks as the explicit guarantee reduces uncertainty for the … during the recent widespread financial crisis, where arguably liquidity markets dried up, these securitization transactions …

securitization activity, weak supervision for bank capital and too low for too long monetary policy rates. Conversely, low long … origins of the crisis and have important policy implications. - Lending standards ; monetary policy ; securitization ; bank …