A leverage-based measure of financial stability
نویسندگان
چکیده
The size and the leverage of financial market investors elasticity demand unlevered define MinMaSS, smallest that can support a given degree leverage. system’s potential for crises be measured by stability ratio , total to MinMaSS. We use metric gauge buildup vulnerability in run-up 1998 Long-Term Capital Management crisis argue policymakers could have detected crisis.
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ژورنال
عنوان ژورنال: Journal of Financial Intermediation
سال: 2022
ISSN: ['1042-9573', '1096-0473']
DOI: https://doi.org/10.1016/j.jfi.2021.100907