| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12676 |
| DP12676 A Leverage-Based Measure of Financial Stability | |
| Tobias Adrian; Alexander Tepper; Karol Jan Borowiecki | |
| 发表日期 | 2018-02-02 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | The size and the leverage of financial market investors and the elasticity of demand of unlevered investors define MinMaSS, the smallest market size that can support a given degree of leverage. The financial system's potential for financial crises can be measured by the stability ratio, the fraction of total market size to MinMaSS. We use that financial stability metric to gauge the buildup of vulnerability in the run-up to the 1998 Long-Term Capital Management crisis and argue that policymakers could have detected the potential for the crisis. |
| 主题 | Financial Economics |
| 关键词 | Leverage Financial crisis Financial stability Minimum market size for stability Minmass Stability ratio Long-term capital management Ltcm |
| URL | https://cepr.org/publications/dp12676-0 |
| 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/541488 |
| 推荐引用方式 GB/T 7714 | Tobias Adrian,Alexander Tepper,Karol Jan Borowiecki. DP12676 A Leverage-Based Measure of Financial Stability. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
