G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16438
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
URLhttps://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.
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