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A Flow-of-Funds Perspective on the Financial CrisisBank Leverage and the Credit Cycle in the Euro Area: A Bayesian Semi-Parametric Approach

A Flow-of-Funds Perspective on the Financial Crisis: Bank Leverage and the Credit Cycle in the... [The leverage-ratio, here defined as the liabilities-to-assets ratio, measures debt relative to equity in the balance sheet of the economic agents. Excess leverage has been pointed out as a major contributor to financial crises, several empirical analyses also indicating that average leverage often rises prior to such episodes.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Flow-of-Funds Perspective on the Financial CrisisBank Leverage and the Credit Cycle in the Euro Area: A Bayesian Semi-Parametric Approach

Part of the Palgrave Studies in Econmics and Banking Book Series
Editors: Winkler, Bernhard; Riet, Ad van; Bull, Peter
Girón, Celestino; Mongelluzzo, Silvia
A Flow-of-Funds Perspective on the Financial Crisis — Dec 4, 2015
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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
ISBN
978-1-349-46944-4
Pages
203 –235
DOI
10.1057/9781137352989_9
Publisher site
See Chapter on Publisher Site

Abstract

[The leverage-ratio, here defined as the liabilities-to-assets ratio, measures debt relative to equity in the balance sheet of the economic agents. Excess leverage has been pointed out as a major contributor to financial crises, several empirical analyses also indicating that average leverage often rises prior to such episodes.]

Published: Dec 4, 2015

Keywords: Posterior Distribution; Asset Price; Euro Area; Dirichlet Process; Euro Area Country

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