全球智库信息集成服务系统(G2TT): Mobile Collateral versus Immobile Collateral

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w22619
来源ID	Working Paper 22619
	Mobile Collateral versus Immobile Collateral
	Gary Gorton; Tyler Muir
发表日期	2016-09-12
出版年	2016
语种	英语
摘要	In the face of the Lucas Critique, economic history can be used to evaluate policy. We use the experience of the U.S. National Banking Era to evaluate the most important bank regulation to emerge from the financial crisis, the Bank for International Settlement's liquidity coverage ratio (LCR) which requires that (net) short-term (uninsured) bank debt (e.g. repo) be backed one-for-one with U.S. Treasuries (or other high quality bonds). The rule is narrow banking. The experience of the U.S. National Banking Era, which also required that bank short-term debt be backed by Treasury debt one-for-one, suggests that the LCR is unlikely to reduce financial fragility and may increase it.
主题	Macroeconomics ; Monetary Policy ; Financial Economics ; History ; Macroeconomic History
URL	https://www.nber.org/papers/w22619
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/580292
推荐引用方式 GB/T 7714	Gary Gorton,Tyler Muir. Mobile Collateral versus Immobile Collateral. 2016.