Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159000
Authors: 
Kregel, Jan A.
Year of Publication: 
1993
Series/Report no.: 
Quaderni - Working Paper DSE 157
Abstract: 
This paper investigates the role of financial stucture on he financial fragility of the economy. It argues that while strucures is indipendent of the degree of what Misky calls financial fragility, it will have an impact on the rate of contagion by which financial fragility produces general economic instability. This is independent of the traditional view of instability as being caused by financial intermediation creating a mismatch of maturities of financial institutions' asset and liabilities, but is linked to the quality of the assets against which banks lend when there is a rapid increase in resources intermediated by banks. It concludes by arguing that the present system has become more prone to financial crises because of an increase in the speed of contagion due to a change in the financial structure.
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

Files in This Item:
File
Size
267.96 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.