Arbeitspapier
Financial (in)stability, supervision and liquidity injections: a dynamic general equilibrium approach
This paper develops a dynamic stochastic general equilibrium model with interactions between an heterogeneous banking sector and other private agents. We introduce endogenous default probabilities for both firms and banks, and allow for bank regulation and liquidity injection into the interbankmarket. Our aim is to understand the importance of supervisory and monetary authorities to restore financial stability. The model is calibrated against real data and used for simulations. We show that liquidity injections reduce financial instability but have ambiguous effects on output fluctuations. The model also confirms the partial equilibrium literature results on the procyclicality of Basel II.
- Sprache
-
Englisch
- Erschienen in
-
Series: NBB Working Paper ; No. 148
- Klassifikation
-
Wirtschaft
General Aggregative Models: Neoclassical
Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
- Thema
-
DSGE
Banking sector
Default risk
Supervision
Money
Bankenliquidität
Geldpolitik
Bankenaufsicht
Basler Akkord
Dynamisches Gleichgewicht
Theorie
OECD-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
de Walque, Gregory
Pierrard, Olivier
Rouabah, Abdelaziz
- Ereignis
-
Veröffentlichung
- (wer)
-
National Bank of Belgium
- (wo)
-
Brussels
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- de Walque, Gregory
- Pierrard, Olivier
- Rouabah, Abdelaziz
- National Bank of Belgium
Entstanden
- 2008