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Financial systems all over the world have grown dramatically over recent decades. But is more finance necessarily … intermediation, on the one hand, and GDP per capita growth and growth volatility, on the other hand. Based on a sample of 77 … countries for the period 1980-2007, we find that intermediation activities increase growth and reduce volatility in the long run …
Persistent link: https://www.econbiz.de/10013103381
Financial systems all over the world have grown dramatically over recent decades. But is more finance necessarily … intermediation, on the one hand, and GDP per capita growth and growth volatility, on the other hand. Based on a sample of 77 … countries for the period 1980-2007, we find that intermediation activities increase growth and reduce volatility in the long run …
Persistent link: https://www.econbiz.de/10013099169
Persistent link: https://www.econbiz.de/10010520468
Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...
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Macroprudential policies for financial institutions have received increasing prominence since the global financial crisis. These policies are often aimed at the commercial banking sector, while a host of other non-bank financial institutions, or shadow banks, may not fall under their...
Persistent link: https://www.econbiz.de/10012035452
The objective of this chapter is to provide a survey of the role of financial factors in macroeconometric models for policy simulation. The chapter first describes how the failure of existing models to predict the financial crises and characterize its transmission mechanisms has led to important...
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