کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
966535 | 931059 | 2013 | 14 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Capital regulation and monetary policy with fragile banks Capital regulation and monetary policy with fragile banks](/preview/png/966535.png)
Optimizing banks subject to runs are introduced in a macro model to study the transmission of monetary policy and its interplay with bank capital regulation when banks are risky. A monetary expansion and a positive productivity shock increase bank leverage and risk. Risk-based capital requirements amplify the cycle and are welfare detrimental. Within a class of simple policy rules, the best combination includes mildly anticyclical capital ratios (as in Basel III) and a response of monetary policy to asset prices or bank leverage.
Graphical AbstractFigure optionsDownload as PowerPoint slideHighlights
► Macro model with banks.
► Bank runs and endogenous bank capital.
► Risk taking channel.
► Endogenous risk formation.
► Optimal anti-cyclical capital ratios
Journal: Journal of Monetary Economics - Volume 60, Issue 3, April 2013, Pages 311–324