Securitized banking, procyclical bank leverage, and financial instability
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DOI: 10.1016/j.strueco.2018.10.001
Abstract: Abstract This paper provides a theoretical explanation of procyclical leverage of the broker-dealer sector and examines its macroeconomic consequences within the context of the securitized banking system characterized by loan securitization and collateralized short-term borrowing.… read more here.
Keywords: procyclical bank; bank leverage; securitized banking; leverage ... See more keywords