Title of article
Financial crises,bankriskexposureandgovernmentfinancialpolicy
Author/Authors
Mark Gertler، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2012
Pages
18
From page
17
To page
34
Abstract
A macroeconomicmodelwithfinancialintermediationisdevelopedinwhichthe
intermediaries(banks)canissueoutsideequityaswellasshorttermdebt.Thismakes
bank riskexposureanendogenouschoice.Thegoalistohaveamodelthatcannotonly
capture acrisiswhenbanksarehighlyvulnerabletorisk,butcanalsoaccountforwhy
banks adoptsuchariskybalancesheetinthefirstplace.Weusethemodeltoassess
quantitativelyhowperceptionsoffundamentalriskandofgovernmentcreditpolicyina
crisisaffectthevulnerabilityofthefinancialsystemexante.Wealsostudytheeffectsof
macro-prudentialpoliciesdesignedtooffsettheincentivesforrisk-taking.
Journal title
Journal of Monetary Economics
Serial Year
2012
Journal title
Journal of Monetary Economics
Record number
846562
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