(deterioration risk). Low fundamental risk of assets guarantees benevolent funding conditions and banks are able to expand their … regulatory regime that disregards the equilibrium effect of asset prices on incentives performs poorly as low fundamental risk … may induce high deterioration risk. Overall, the model suggests a theoretical foundation for the countercyclical capital …

provide microfoundations for our preferred approach of estimating an explicitly first-order approximation to the production …

provide microfoundations for our preferred approach of estimating an explicitly first-order approximation to the production …

provide microfoundations for our preferred approach of estimating an explicitly first-order approximation to the production …

who value microfoundations and view micro-lev …

-- The Credit Market and Economic Activity: Theories on Credit Market, Credit Risk and Economic Activity -- Empirical Tests …: Static Portfolio Theory: CAPM and Extentsions -- Consumption Based Asset Pricing Models -- Asset Pricing Models with … -- Exchange Rate Shocks, Financial Crisis and Output Loss -- International Portfolio and the Diversification of Risk …