| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10316 |
| DP10316 Capital Regulation in a Macroeconomic Model with Three Layers of Default | |
| Javier Suarez; Kalin Nikolov; Caterina Mendicino; Livio Stracca; Alexandros Vardoulakis | |
| 发表日期 | 2014-12-21 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We develop a dynamic general equilibrium model for the positive and normative analysis of macroprudential policies. Optimizing financial intermediaries allocate their scarce net worth together with funds raised from saving households across two lending activities, mortgage and corporate lending. For all borrowers (households, firms, and banks) external financing takes the form of debt which is subject to default risk. This "3D model" shows the interplay between three interconnected net worth channels that cause financial amplification and the distortions due to deposit insurance. We apply it to the analysis of capital regulation. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Default risk Financial frictions Macroprudential policy |
| URL | https://cepr.org/publications/dp10316 |
| 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/539148 |
| 推荐引用方式 GB/T 7714 | Javier Suarez,Kalin Nikolov,Caterina Mendicino,et al. DP10316 Capital Regulation in a Macroeconomic Model with Three Layers of Default. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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