Creditor Protection and Financial Cycles
نویسندگان
چکیده
منابع مشابه
Financial Cycles
Throughout the 1980s and into the early 1990s, the effects of several financial cycles severely battered the banking system of the United States. As used here, the term "cycle" does not imply a recurring phenomenon, but rather a cycle through various phases--as in a boom and bust cycle. Most of these cycles began with a prolonged period of extraordinary growth centered in a particularly risky t...
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A puzzling fact in macroeconomics is that small and transitory shocks seem to be followed by large and persistent fluctuations in macroeconomic variables. Theoretical models explaining this empirical fact focus on the borrower but most of them neglect to model the bank. This paper proposes a framework in which changes in the financial condition of banks can have persistent aggregate consequence...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.1817242