Risky Bank Lending and Optimal Capital Adequacy Regulation /

We study the welfare properties of a New Keynesian monetary economy with an essential role for risky bank lending. Banks lend funds deposited by households to a financial accelerator sector, and face penalties for maintaining insufficient net worth. The loan contract specifies an unconditional lendi...

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Autor principal: Benes, Jaromir
Altres autors: Kumhof, Michael
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2011.
Col·lecció:IMF Working Papers; Working Paper ; No. 2011/130
Accés en línia:Full text available on IMF