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This paper studies the impact of bank regulation and taxation in a dynamic model with banks exposed to credit and liquidity risk. We find an inverted ...
A General Equilibrium Exposition
We study versions of a general equilibrium banking model with moral hazard under either constant or increasing returns to scale of the intermediation ...
Measurement, Forecasting, and Stress Testing
This paper formulates a novel modeling framework that delivers: (a) forecasts of indicators of systemic real risk and systemic financial risk based on...
This paper presents a modeling framework that delivers joint forecasts of indicators of systemic real risk and systemic financial risk, as well as str...
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We study a simple general equilibrium model in which investment in a risky technology is subject to moral hazard and banks can extract market power re...