Bank leverage, credit traps and credit policies
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Joe Peek & Eric S. Rosengren, 2005.
"Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan,"
American Economic Review, American Economic Association, vol. 95(4), pages 1144-1166, September.
- Joe Peek & Eric S. Rosengren, 2003. "Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan," NBER Working Papers 9643, National Bureau of Economic Research, Inc.
- Javier Bianchi, 2011.
"Overborrowing and Systemic Externalities in the Business Cycle,"
American Economic Review, American Economic Association, vol. 101(7), pages 3400-3426, December.
- Bianchi, Javier, 2009. "Overborrowing and Systemic Externalities in the Business Cycle," MPRA Paper 15114, University Library of Munich, Germany.
- Bianchi, Javier, 2009. "Overborrowing and Systemic Externalities in the Business Cycle," MPRA Paper 16270, University Library of Munich, Germany.
- Javier Bianchi, 2010. "Overborrowing and Systemic Externalities in the Business Cycle," 2010 Meeting Papers 96, Society for Economic Dynamics.
- Javier Bianchi, 2009. "Overborrowing and systemic externalities in the business cycle," FRB Atlanta Working Paper 2009-24, Federal Reserve Bank of Atlanta.
- Ricardo J. Caballero & Takeo Hoshi & Anil K. Kashyap, 2008.
"Zombie Lending and Depressed Restructuring in Japan,"
American Economic Review, American Economic Association, vol. 98(5), pages 1943-1977, December.
- Ricardo J. Caballero & Takeo Hoshi & Anil K. Kashyap, 2006. "Zombie Lending and Depressed Restructuring in Japan," NBER Working Papers 12129, National Bureau of Economic Research, Inc.
- Caballero, Ricardo J. & Hoshi, Takeo & Kashyap, Anil K., 2006. "Zombie Lending and Depressed Restructuring in Japan," Working Papers 206, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Shleifer, Andrei & Vishny, Robert W, 1992.
"Liquidation Values and Debt Capacity: A Market Equilibrium Approach,"
Journal of Finance, American Finance Association, vol. 47(4), pages 1343-1366, September.
- Shleifer, Andrei & Vishny, Robert W., 1992. "Liquidation Values and Debt Capacity: A Market Equilibrium Approach," Scholarly Articles 27692663, Harvard University Department of Economics.
- Lawrence Christiano & Daisuke Ikeda, 2014.
"Leverage Restrictions in a Business Cycle Model,"
Central Banking, Analysis, and Economic Policies Book Series, in: Sofía Bauducco & Lawrence Christiano & Claudio Raddatz (ed.),Macroeconomic and Financial Stability: challenges for Monetary Policy, edition 1, volume 19, chapter 7, pages 215-216,
Central Bank of Chile.
- Lawrence Christiano & Daisuke Ikeda, 2013. "Leverage Restrictions in a Business Cycle Model," NBER Working Papers 18688, National Bureau of Economic Research, Inc.
- Lawrence Christiano & Daisuke Ikeda, 2014. "Leverage Restrictions in a Business Cycle Model," Working Papers Central Bank of Chile 726, Central Bank of Chile.
- Holmström, Bengt, 2013.
"Inside and Outside Liquidity,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262518536, April.
- Bengt Holmström & Jean Tirole, 2011. "Inside and Outside Liquidity," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015781, December.
- Holmström, Bengt, 2011. "Inside and Outside Liquidity," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262015783, April.
- Angeloni, Ignazio & Faia, Ester, 2013. "Capital regulation and monetary policy with fragile banks," Journal of Monetary Economics, Elsevier, vol. 60(3), pages 311-324.
- Kevin Moran & Cesaire A. Meh & Ian Christensen, 2010.
"Bank Leverage Regulation and Macroeconomic Dynamics,"
2010 Meeting Papers
757, Society for Economic Dynamics.
- Ian Christensen & Césaire Meh & Kevin Moran, 2011. "Bank Leverage Regulation and Macroeconomic Dynamics," Staff Working Papers 11-32, Bank of Canada.
- Ian Christensen & Césaire Meh & Kevin Moran, 2011. "Bank Leverage Regulation and Macroeconomic Dynamics," Cahiers de recherche 1140, CIRPEE.
- Ian Christensen & Césaire Meh & Kevin Moran, 2011. "Bank Leverage Regulation and Macroeconomic Dynamics," CIRANO Working Papers 2011s-76, CIRANO.
- Stijn Claessens & M. Ayhan Kose, 2013.
"Financial Crises: Explanations, Types and Implications,"
CAMA Working Papers
2013-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Claessens, Stijn & Kose, M. Ayhan, 2013. "Financial Crises: Explanations, Types, and Implications," CEPR Discussion Papers 9329, C.E.P.R. Discussion Papers.
- Mr. Stijn Claessens & Mr. Ayhan Kose, 2013. "Financial Crises Explanations, Types, and Implications," IMF Working Papers 2013/028, International Monetary Fund.
- Gertler, Mark & Kiyotaki, Nobuhiro, 2010. "Financial Intermediation and Credit Policy in Business Cycle Analysis," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 11, pages 547-599, Elsevier.
- Kiminori Matsuyama, 2007. "Credit Traps and Credit Cycles," American Economic Review, American Economic Association, vol. 97(1), pages 503-516, March.
- Gertler, Mark & Karadi, Peter, 2011. "A model of unconventional monetary policy," Journal of Monetary Economics, Elsevier, vol. 58(1), pages 17-34, January.
- Nelson, Benjamin & Tanaka, Misa, 2014. "Dealing with a banking crisis: what lessons can be learned from Japan’s experience?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(1), pages 36-48.
- Gertler, Mark & Kiyotaki, Nobuhiro & Queralto, Albert, 2012. "Financial crises, bank risk exposure and government financial policy," Journal of Monetary Economics, Elsevier, vol. 59(S), pages 17-34.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Pierre-Richard Agénor & Luiz A. Pereira da Silva, 2021.
"Capital requirements, risk-taking and welfare in a growing economy,"
Journal of Regulatory Economics, Springer, vol. 60(2), pages 167-192, December.
- Pierre-Richard Agénor & L. Pereira da Silva, 2016. "Capital Requirements, Risk Taking and Welfare in a Growing Economy," Centre for Growth and Business Cycle Research Discussion Paper Series 226, Economics, The University of Manchester.
- Agénor, Pierre-Richard & Pereira da Silva, Luiz A., 2017. "Capital Requirements, Risk-Taking and Welfare in a Growing Economy," IDB Publications (Working Papers) 8206, Inter-American Development Bank.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Angus Foulis & Benjamin Nelson & Misa Tanaka, 2019. "Credit Traps and Macroprudential Leverage," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1963-1998, October.
- Gertler, M. & Kiyotaki, N. & Prestipino, A., 2016.
"Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises,"
Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1345-1425,
Elsevier.
- Mark Gertler & Nobuhiro Kiyotaki & Andrea Prestipino, 2016. "Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises," NBER Working Papers 21892, National Bureau of Economic Research, Inc.
- Mark Gertler & Nobuhiro Kiyotaki & Andrea Prestipino, 2016. "Wholesale Banking and Bank Runs in Macroeconomic Modeling of Financial Crises," International Finance Discussion Papers 1156, Board of Governors of the Federal Reserve System (U.S.).
- Benes, Jaromir & Kumhof, Michael, 2015. "Risky bank lending and countercyclical capital buffers," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 58-80.
- Keiichiro Kobayashi & Tomoyuki Nakajima, 2014.
"A macroeconomic model of liquidity crises,"
KIER Working Papers
876, Kyoto University, Institute of Economic Research.
- Keiichiro Kobayashi & Tomoyuki Nakajima, 2017. "A macroeconomic model of liquidity crises," CIGS Working Paper Series 17-010E, The Canon Institute for Global Studies.
- Keiichiro Kobayashi & Tomoyuki Nakajima, 2014. "A macroeconomic model of liquidity crises," UTokyo Price Project Working Paper Series 022, University of Tokyo, Graduate School of Economics.
- Keiichiro Kobayashi & Tomoyuki Nakajima, 2014. "A macroeconomic model of liquidity crises," CIGS Working Paper Series 14-003E, The Canon Institute for Global Studies.
- Ben-Gad, Michael & Pearlman, Joseph & Sabuga, Ivy, 2022.
"An analysis of monetary and macroprudential policies in a DSGE model with reserve requirements and mortgage lending,"
Economic Modelling, Elsevier, vol. 116(C).
- Ben-Gad, M. & Pearlman, J. & Sabuga, I., 2021. "An Analysis of Monetary and Macroprudential Policies in a DSGE Model with Reserve Requirements and Mortgage Lending," Working Papers 21/04, Department of Economics, City University London.
- Laurent Clerc & Alexis Derviz & Caterina Mendicino & Stephane Moyen & Kalin Nikolov & Livio Stracca & Javier Suarez & Alexandros P. Vardoulakis, 2015.
"Capital Regulation in a Macroeconomic Model with Three Layers of Default,"
International Journal of Central Banking, International Journal of Central Banking, vol. 11(3), pages 9-63, June.
- Suarez, Javier & Derviz, Alexis & Nikolov, Kalin & Clerc, Laurent & Mendicino, Caterina & Stracca, Livio & Vardoulakis, Alexandros & Moyen, Stéphane, 2014. "Capital Regulation in a Macroeconomic Model with Three Layers of Default," CEPR Discussion Papers 10316, C.E.P.R. Discussion Papers.
- Nikolov, Kalin & Stracca, Livio & Derviz, Alexis & Mendicino, Caterina & Moyen, Stéphane & Clerc, Laurent & Suarez, Javier & Vardoulakis, Alexandros P., 2015. "Capital regulation in a macroeconomic model with three layers of default," Working Paper Series 1827, European Central Bank.
- Laurent Clerc & Alexis Derviz & Caterina Mendicino & Stéphane Moyen & Kalin Nikolov & Livio Stracca & Javier Suarez & Alexandros P. Vardoulakis, 2014. "Capital Regulation in a Macroeconomic Model with Three Layers of Default," Working Papers wp2014_1408, CEMFI.
- L. Clerc & A. Derviz & C. Mendicino & S. Moyen & K. Nikolov & L. Stracca & J. Suarez & A. P. Vardoulakis, 2014. "Capital Regulation in a Macroeconomic Model with Three Layers of Default," Working papers 533, Banque de France.
- Laurent Clerc, 2015. "Capital Regulation in a Macroeconomic Model with Three Layers of Default," Working Papers w201503, Banco de Portugal, Economics and Research Department.
- Kitano, Shigeto & Takaku, Kenya, 2020.
"Capital controls, macroprudential regulation, and the bank balance sheet channel,"
Journal of Macroeconomics, Elsevier, vol. 63(C).
- Shigeto Kitano & Kenya Takaku, 2017. "Capital Controls, Macroprudential Regulation,and the Bank Balance Sheet Channel," Discussion Paper Series DP2017-18, Research Institute for Economics & Business Administration, Kobe University, revised Jan 2019.
- Nelson, Benjamin & Pinter, Gabor, 2018. "Macroprudential capital regulation in general equilibrium," Bank of England working papers 770, Bank of England.
- Mark Gertler & Nobuhiro Kiyotaki, 2015.
"Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy,"
American Economic Review, American Economic Association, vol. 105(7), pages 2011-2043, July.
- Mark Gertler & Nobuhiro Kiyotaki, 2013. "Banking, Liquidity and Bank Runs in an Infinite Horizon Economy," 2013 Meeting Papers 59, Society for Economic Dynamics.
- Mark Gertler & Nobuhiro Kiyotaki, 2014. "Banking, Liquidity and Bank Runs in an Infinite Horizon Economy," IMES Discussion Paper Series 14-E-05, Institute for Monetary and Economic Studies, Bank of Japan.
- Mark Gertler & Nobuhiro Kiyotaki, 2013. "Banking, Liquidity and Bank Runs in an Infinite-Horizon Economy," NBER Working Papers 19129, National Bureau of Economic Research, Inc.
- Yang Zhou & Shigeto Kitano, 2023. "Capital Controls or Macroprudential Policies: Which is Better for Land Booms and Busts?," Discussion Paper Series DP2023-12, Research Institute for Economics & Business Administration, Kobe University, revised Apr 2024.
- Hirano, Tomohiro & Inaba, Masaru & Yanagawa, Noriyuki, 2015.
"Asset bubbles and bailouts,"
Journal of Monetary Economics, Elsevier, vol. 76(S), pages 71-89.
- Tomohiro Hirano & Masaru Inaba & Noriyuki Yanagawa, 2012. "Asset Bubbles and Bailouts," CARF F-Series CARF-F-268, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
- Tomohiro Hirano & Masaru Inaba & Noriyuki Yanagawa, 2015. "Asset Bubbles and Bailouts," CIGS Working Paper Series 15-004E, The Canon Institute for Global Studies.
- Hirano, Tomohiro & Inaba, Masaru & Yanagawa, Noriyuki, 2015. "Asset Bubbles and Bailouts," HIT-REFINED Working Paper Series 19, Institute of Economic Research, Hitotsubashi University.
- Tomohiro Hirano & Masaru Inaba & Noriyuki Yanagawa, 2014. "Asset Bubbles and Bailouts," CIGS Working Paper Series 14-001E, The Canon Institute for Global Studies.
- Tomohiro Hirano & Noriyuki Yanagawa, 2012. "Asset Bubbles and Bailout," CIRJE F-Series CIRJE-F-838, CIRJE, Faculty of Economics, University of Tokyo.
- Gerth Florian & Otsu Keisuke, 2018.
"The post-crisis slump in Europe: a business cycle accounting analysis,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(1), pages 1-25, January.
- Florian Gerth & Keisuke Otsu, 2016. "A Post-crisis Slump in Europe: A Business Cycle Accounting Analysis," Studies in Economics 1606, School of Economics, University of Kent.
- Lubello, Federico & Petrella, Ivan & Santoro, Emiliano, 2019.
"Bank assets, liquidity and credit cycles,"
Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 265-282.
- Petrella, Ivan & Lubello, Federico & Santoro, Emiliano, 2019. "Bank Assets, Liquidity and Credit Cycles," CEPR Discussion Papers 13831, C.E.P.R. Discussion Papers.
- Hao Jin & Chen Xiong, 2018.
"Financial Openness, Bank Capital Flows, and the Effectiveness of Macroprudential Policies,"
CAEPR Working Papers
2018-007, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
- Hao Jin & Chen Xiong, 2019. "Financial Openness, Bank Capital Flows, and the Effectiveness of Macroprudential Policies," Working Papers 2019-07-08, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
- Silvo, Aino, 2016. "The interaction of monetary and macroprudential policies in economic stabilisation," Research Discussion Papers 1/2016, Bank of Finland.
- Jiménez, Gabriel & Ongena, Steven & Peydró, José-Luis & Saurina, Jesús, 2010.
"Credit supply - Identifying balance-sheet channels with loan applications and granted loans,"
Working Paper Series
1179, European Central Bank.
- Ongena, Steven & Peydró, José-Luis & Jiménez, Gabriel & Saurina, Jesús, 2010. "Credit Supply: Identifying Balance-Sheet Channels with Loan Applications and Granted Loans," CEPR Discussion Papers 7655, C.E.P.R. Discussion Papers.
- Gabriel Jiménez & Steven Ongena & José-Luis Peydró & Jesús Saurina, 2010. "Credit supply: identifying balance-sheet channels with loan applications and granted loans," Working Papers 1030, Banco de España.
- Giese, Julia & Nelson, Benjamin & Tanaka, Misa & Tarashev, Nikola, 2013. "Financial Stability Paper No 21: How could macroprudential policy affect financial system resilience and credit? Lessons from the literature," Bank of England Financial Stability Papers 21, Bank of England.
- Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2018.
"Optimal Dynamic Capital Requirements,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(6), pages 1271-1297, September.
- Caterina Mendicino & Kalin Nikolov & Javier Suarez & Dominik Supera, 2016. "Optimal Dynamic Capital Requirements," Working Papers wp2016_1614, CEMFI.
- Kalin Nikolov & Javier Suarez & Dominik Supera & Caterina Mendicino, 2017. "Optimal Dynamic Capital Requirements," 2017 Meeting Papers 1216, Society for Economic Dynamics.
- Foerster, Andrew T., 2015.
"Financial crises, unconventional monetary policy exit strategies, and agents׳ expectations,"
Journal of Monetary Economics, Elsevier, vol. 76(C), pages 191-207.
- Andrew T. Foerster, 2011. "Financial crises, unconventional monetary policy exit strategies, and agents' expectations," Research Working Paper RWP 11-04, Federal Reserve Bank of Kansas City.
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2023.
"Climate Policy, Financial Frictions, and Transition Risk,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 778-794, December.
- Stefano Carattini & Garth Heutel & Givi Melkadze, 2023. "Online Appendix to "Climate Policy, Financial Frictions, and Transition Risk"," Online Appendices 22-114, Review of Economic Dynamics.
More about this item
Keywords
Unconventional credit policy; leverage regulation; financial intermediation; financial crisis.;All these keywords.
JEL classification:
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G01 - Financial Economics - - General - - - Financial Crises
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2015-08-13 (Banking)
- NEP-CBA-2015-08-13 (Central Banking)
- NEP-DGE-2015-08-13 (Dynamic General Equilibrium)
- NEP-MAC-2015-08-13 (Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:boe:boeewp:0539. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Digital Media Team (email available below). General contact details of provider: https://edirc.repec.org/data/boegvuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.