Procyclical Leverage and Value-at-Risk
收藏NBER2013-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18943
下载链接
链接失效反馈官方服务：
资源简介：
The availability of credit varies over the business cycle through shifts in the leverage of financial intermediaries. Empirically, we find that intermediary leverage is negatively aligned with the banks' Value-at-Risk (VaR). Motivated by the evidence, we explore a contracting model that captures the
提供机构：
美国国家经济研究局
创建时间：
2013-04-01
