When Banks Punch Back: Macrofinancial Feedback Loops in Stress Tests

When Banks Punch Back: Macrofinancial Feedback Loops in Stress Tests
In the presence of adverse macroeconomic shocks, simultaneous capital losses in multiple banks can prompt them to contract their balance sheets. These bank responses generate externalities that propagate in the form of macro-financial feedback loops. This paper develops a credit response and externalities analysis model (CREAM) that integrates a... READ MORE...

Publication date: May 2020
ISBN 9781513534916
$18.00

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Publication date: May 2020

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