| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25775 |
| 来源ID | Working Paper 25775 |
| Asset Price Bubbles and Systemic Risk | |
| Markus K. Brunnermeier; Simon C. Rother; Isabel Schnabel | |
| 发表日期 | 2019-04-29 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We analyze the relationship between asset price bubbles and systemic risk, using bank-level data covering almost thirty years. Systemic risk of banks rises already during a bubble’s build-up phase, and even more so during its bust. The increase differs strongly across banks and bubble episodes. It depends on bank characteristics (especially bank size) and bubble characteristics, and it can become very large: In a median real estate bust, systemic risk increases by almost 70 percent of the median for banks with unfavorable characteristics. These results emphasize the importance of bank-level factors for the build-up of financial fragility during bubble episodes. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Financial Economics |
| URL | https://www.nber.org/papers/w25775 |
| 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/583449 |
| 推荐引用方式 GB/T 7714 | Markus K. Brunnermeier,Simon C. Rother,Isabel Schnabel. Asset Price Bubbles and Systemic Risk. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25775.pdf（1078KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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