Radde, Sören - Verein für Socialpolitik - VfS - 2012
aggregate risk induces a credit crunch scenario which shares key features with the Great Recession such as strong output decline … triggered by a market liquidity squeeze modelled as a shock to the collateral value of banks assets. This novel type of …, pro-cyclical leverage and counter-cyclical liquidity hoarding. Unconventional credit policy in the form of a wealth …