Haku
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Cyclicality of bank liquidity creation
(15.07.2018)
Journal of International Financial Markets, Institutions and Money July ; 2018
Journal of International Financial Markets, Institutions and Money July ; 2018
This paper investigates the cyclicality of bank liquidity creation. Since liquidity creation is a major economic function of banks, their liquidity creation behavior may amplify business cycle fluctuations. Using the ...
Uncertainty shocks and firm creation : Search and monitoring in the credit market
(15.02.2019)
Journal of Economic Dynamics and Control February
Journal of Economic Dynamics and Control February
We develop a business cycle model where endogenous firm creation stems from two credit market frictions. First, entrepreneurs search for a lending relationship with a bank. Second, an optimal debt contract with monitoring ...
Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer
(01.03.2018)
International Journal of Central Banking 2 ; March 2018
International Journal of Central Banking 2 ; March 2018
The European Systemic Risk Board (ESRB) recently issued a recommendation on the use of early warning indicators in macroprudential decisions involving the countercyclical capital buffer (Basel III framework). In addition ...