A macroeconomic framework for quantifying systemic risk
Systemic risk arises when shocks lead to states where a disruption in financial intermediation adversely affects the economy and feeds back into further disrupting financial intermediation. We present a macroeconomic model with a financial intermediary sector subject to an equity capital constraint....
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
American Economic Association
2019
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| Online Access: | View Fulltext in Publisher |