Pozsar, Zoltan; Adrian, Tobias; Ashcraft, Adam B.; … - In: Economic Policy Review (2013) Dec, pp. 1-16
The rapid growth of the market-based financial system since the mid-1980s has changed the nature of financial intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial crisis. Shadow banks are financial intermediaries that...