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Liquidity policies and systemic risk
Adrian, Tobias; Boyarchenko, Nina - In: Journal of financial intermediation 35PB (2018), pp. 45-60
Persistent link: https://www.econbiz.de/10012114336
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Intermediary leverage cycles and financial stability
Adrian, Tobias; Boyarchenko, Nina - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to … risk ; macroprudential policy ; DSGE ; amplification ; capital regulation ; financial intermediation …
Persistent link: https://www.econbiz.de/10009580891
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Liquidity policies and systemic risk
Adrian, Tobias; Boyarchenko, Nina - Federal Reserve Bank of New York - 2014
’ implications for household welfare. Within the context of our model, liquidity requirements are preferable to capital requirements …
Persistent link: https://www.econbiz.de/10010751386
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Liquidity policies and systemic risk
Adrian, Tobias; Boyarchenko, Nina - 2013
' implications for household welfare. Within the context of our model, liquidity requirements are preferable to capital requirements …
Persistent link: https://www.econbiz.de/10010333640
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Shadow banking : financial intermediation beyond banks
Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018
Persistent link: https://www.econbiz.de/10011790739
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The cyclicality of leverage
Adrian, Tobias; Boyarchenko, Nina; Shin, Hyun Song - 2015
This paper studies the question of the economic scale of financial institutions. We show that banks actively smooth book equity by adjusting payouts to achieve a desired trajectory of book equity. The countercyclical nature of net payouts of financial institutions leads to procyclical book...
Persistent link: https://www.econbiz.de/10011342855
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Intermediary Leverage Cycles and Financial Stability
Adrian, Tobias; Boyarchenko, Nina - Becker Friedman Institute for Research in Economics, … - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to …
Persistent link: https://www.econbiz.de/10011142282
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Intermediary leverage cycles and financial stability
Adrian, Tobias; Boyarchenko, Nina - 2012
We develop a theory of financial intermediary leverage cycles in the context of a dynamic model of the macroeconomy …. The interaction between a production sector, a financial intermediation sector, and a household sector gives rise to …
Persistent link: https://www.econbiz.de/10010284233
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Intermediary balance sheets
Adrian, Tobias; Boyarchenko, Nina - 2013
the bank sector is highly procyclical, the leverage of the nonbank financial sector is acyclical. We propose a theory of a …
Persistent link: https://www.econbiz.de/10010202648
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On the Scale of Financial Intermediaries
Adrian, Tobias - 2017
This paper studies the economic scale of financial institutions. We show that banks and security broker-dealers actively smooth book equity by adjusting payouts. The smoothing of book equity is associated with procyclical book leverage and procyclical net payouts. In contrast, market leverage...
Persistent link: https://www.econbiz.de/10012970892