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dc.contributor.authorZhang, Longmeien_US
dc.date.accessioned2010-01-07en_US
dc.date.accessioned2010-01-27T12:55:35Z-
dc.date.available2010-01-27T12:55:35Z-
dc.date.issued2009en_US
dc.identifier.isbn978-3-86558-586-8en_US
dc.identifier.urihttp://hdl.handle.net/10419/29654-
dc.description.abstractThis paper develops a Dynamic Stochastic General Equilibrium (DSGE) model to study how the instability of the banking sector can amplify and propagate business cycles. The model builds on Bernanke, Gertler and Gilchrist (BGG) (1999), who consider credit demand friction due to agency cost, but it deviates from BGG in that financial intermediaries have to share aggregate risk with entrepreneurs, and therefore bear uncertainty in their loan portfolios. Unexpected aggregate shocks will drive loan default rate away from expected, and have an impact on both firm and bank's balance sheet via the financial contract. Low bank capital position can create strong credit supply contraction, and have a significant effect on business cycle dynamics.en_US
dc.language.isoengen_US
dc.publisherDt. Bundesbank Frankfurt, M.en_US
dc.relation.ispartofseriesDiscussion Paper Series 1: Economic Studies 2009,33en_US
dc.subject.jelE32en_US
dc.subject.jelE44en_US
dc.subject.jelE52en_US
dc.subject.ddc330en_US
dc.subject.keywordBank capital regulationen_US
dc.subject.keywordbanking instabilityen_US
dc.subject.keywordfinancial frictionen_US
dc.subject.keywordbusiness cycleen_US
dc.subject.stwEigenkapitalvorschriftenen_US
dc.subject.stwBankrisikoen_US
dc.subject.stwKreditmarkten_US
dc.subject.stwMarktversagenen_US
dc.subject.stwKreditrisikoen_US
dc.subject.stwKreditrationierungen_US
dc.subject.stwAkzeleratoren_US
dc.subject.stwKonjunkturen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwWirtschaftskriseen_US
dc.subject.stwTheorieen_US
dc.titleBank capital regulation, the lending channel and business cyclesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn615918735en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:200933-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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