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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP10265 |
DP10265 Bank Liabilities Channel | |
Vincenzo Quadrini | |
发表日期 | 2014-11-30 |
出版年 | 2014 |
语种 | 英语 |
摘要 | The financial intermediation sector is important not only for channeling resources from agents in excess of funds to agents in need of funds (lending channel). By issuing liabilities it also creates financial assets held by other sectors of the economy for insurance purpose. When the intermediation sector creates less liabilities or their value falls, agents are less willing to engage in activities that are individually risky but desirable in aggregate (bank liabilities channel). The paper studies how financial crises driven by self-fulfilling expectations are transmitted, through this channel, to the real sector of the economy. |
主题 | International Macroeconomics |
关键词 | Banking crises Macroeconomic volatility Transmission channel |
URL | https://cepr.org/publications/dp10265 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539098 |
推荐引用方式 GB/T 7714 | Vincenzo Quadrini. DP10265 Bank Liabilities Channel. 2014. |
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