Which Banks are (Over) Levered? Insights from Shadow Banks and Uninsured Leverage
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We examine why banks maintain such high financial leverage, with debt financing accounting for about 90% of banks assets. To answer this question, we use uniquely assembled data on capital structure decisions of shadow banks that on the asset side conduct very similar business to banks. The shadow
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美国国家经济研究局创建时间：
2020-03-01
