Does Prolonged Monetary Policy Easing Increase Financial Vulnerability? /

Using firm-level data for approximately 1,000 bank and nonbank financial institutions in 22 countries over the past 15 years we study the impact of prolonged monetary policy easing on risk-taking behavior. We find that the leverage ratio, as well as other measures of firm-level vulnerability, increa...

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Detalles Bibliográficos
Autor principal: Cecchetti, Stephen
Otros Autores: Mancini Griffoli, Tommaso, Narita, Machiko
Formato: Revista
Lenguaje:English
Publicado: Washington, D.C. : International Monetary Fund, 2017.
Colección:IMF Working Papers; Working Paper ; No. 2017/065
Acceso en línea:Full text available on IMF