Coimbra, N and Rey, H (2018) Financial Cycles and Credit Growth across Countries. AEA Papers and Proceedings, 108. pp. 509-512. ISSN 2574-0768
Official URL: https://www.aeaweb.org/articles?id=10.1257/pandp.2...
Abstract
In Coimbra and Rey (2017) we develop a dynamic macroeconomic model with heterogeneous financial intermediaries and endogenous entry. It features time-varying endogenous macroeconomic risk that arises from the risk-shifting behavior of financial intermediaries. We test empirically in a broad panel of countries the implication that credit creation is more elastic to funding costs when the distribution of leverage in the banking system is more positively skewed.
More Details
Item Type: | Article |
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Subject Areas: | Economics |
Date Deposited: | 16 Dec 2019 20:33 |
Last Modified: | 11 Dec 2024 02:48 |
URI: | https://lbsresearch.london.edu/id/eprint/1310 |