Filter selection for countercyclical capital buffers

External Balance Sheets as Countercyclical Crisis Buffers

The external balance sheets of many emerging market countries are distinguished by their holdings of assets primarily in the form of foreign debt and foreign exchange reserves, while their liabilities are predominantly equity, either FDI or portfolio. In this paper we investigate the claim that this composition served as a buffer for the emerging markets during the global financial crisis of 20...

Discusssion of Anchoring Countercyclical Capital Buffers: The Role of Credit Aggregates

The Disturbing Interaction Between Countercyclical Capital Requirements and Systemic Risk

We consider an economy in which flat capital requirements are costly because they inefficiently reduce lending when aggregate conditions are unfavorable. Countercyclical capital requirements – which impose lower capital demands in bad aggregate states – have the potential to improve welfare. However, we show that such capital requirements also have a cost as they increase systemic risk taking a...

Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules

Bank of Canada working papers are theoretical or empirical works-in-progress on subjects in economics and finance. The views expressed in this paper are those of the authors. No responsibility for them should be attributed to the Bank of Canada. ii Acknowledgements We are grateful to participants of the workshop at the Bank of Canada for helpful comments. We thank Benjamin Evens for excellent r...

Buffers and Vegetative Filter Strips

Matthew J. Helmers, Department of Agricultural and Biosystems Engineering, Iowa State University Thomas M. Isenhart, Department of Natural Resource Ecology and Management, Iowa State University Michael G. Dosskey, USDA Forest Service, National Agroforestry Center, Lincoln, Nebraska Seth M. Dabney, USDA-ARS National Sedimentation Laboratory, Oxford, Mississippi Jeffrey S. Strock, Department of S...