登入選單

返回Google圖書搜尋

Excessive Bank Risk Taking and Monetary Policy

Itai Agur

出版	European Central Bank, 2012
URL	http://books.google.com.hk/books?id=saF5MwEACAAJ&hl=&source=gbs_api

註釋

"Why should monetary policy "lean against the wind"? Can't bank regulation perform its task alone? They model banks that choose both asset volatility and leverage, and identify how monetary policy transmits to bank risk. Subsequently, they introduce a regulator whose tool is a risk-based capital requirement. They derive from welfare that the regulator trades off bank risk and credit supply, and show that monetary policy affects both sides of this trade-off. Hence, regulation cannot neutralize the policy rate's impact, and monetary policy matters for financial stability. An extension shows how the commonality of bank exposures affects monetary transmission."--Abstract.