| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16438 |
| DP16438 The Bank Liquidity Channel of Financial (In)stability | |
| Joshua Bosshardt; Ali Kakhbod; Farzad Saidi | |
| 发表日期 | 2022-01-04 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We examine the system-wide effects of liquidity regulation on banks' balance sheets. In the general equilibrium model, banks have to hold liquid assets, and choose among illiquid assets varying in the extent to which they are difficult to value before maturity, e.g., structured securities. By improving the liquidity of interbank markets, tighter liquidity requirements induce banks to invest in such complex assets. We evaluate the welfare properties of combining liquidity regulation with other financial-stability policies, and show that it can complement ex-ante policies, such as asset-specific taxes, whereas it can undermine the benefits of ex-post interventions, such as quantitative easing. |
| 主题 | Financial Economics ; Monetary Economics and Fluctuations |
| 关键词 | Liquidity regulation Securitization Interbank markets Financial stability Quantitative easing |
| URL | https://cepr.org/publications/dp16438-1 |
| 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/545781 |
| 推荐引用方式 GB/T 7714 | Joshua Bosshardt,Ali Kakhbod,Farzad Saidi. DP16438 The Bank Liquidity Channel of Financial (In)stability. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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