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I study economies where banks do not fully internalize the social costs of default, which distorts their lending decisions. In all these economies, a common general equilibrium effect leads to aggregate over-investment. As a result, under laissez-faire, crises are too frequent and too costly...
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This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …
Persistent link: https://www.econbiz.de/10011952012
This paper analyzes the effects of several policy instruments for mitigating financial bubbles generated in the banking … evaluate the efficacy of several policy instruments in counteracting financial bubbles. We find that an endogenous capital …
Persistent link: https://www.econbiz.de/10012132559
financial bubbles generated in the banking sector and to mitigate the adverse effects of financial repression after a bubble …
Persistent link: https://www.econbiz.de/10011816826
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …
Persistent link: https://www.econbiz.de/10012892165
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This paper analyzes the effects of several policy instruments for mitigating financial bubbles generated in the banking … evaluate the efficacy of several policy instruments in counteracting financial bubbles. We find that an endogenous capital …
Persistent link: https://www.econbiz.de/10012858317