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Panetta, Fabio [Author]; Angelini, Paolo [Author]; Albertazzi, Ugo [Author]; Columba, Francesco [Author]; Cornacchia, Wanda [Author]; Di Cesare, Antonio [Author]; Pilati, Andrea [Author]; Salleo, Carmelo [Author]; Santini, Giovanni [Author]

Financial Sector Pro-Cyclicality

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  • Media type: E-Book
  • Title: Financial Sector Pro-Cyclicality : Lessons from the Crisis
  • Contributor: Panetta, Fabio [Author]; Angelini, Paolo [Author]; Albertazzi, Ugo [Author]; Columba, Francesco [Author]; Cornacchia, Wanda [Author]; Di Cesare, Antonio [Author]; Pilati, Andrea [Author]; Salleo, Carmelo [Author]; Santini, Giovanni [Author]
  • Published: [S.l.]: SSRN, 2011
  • Published in: Bank of Italy Occasional Paper ; No. 44
  • Extent: 1 Online-Ressource (86 p)
  • Language: English
  • DOI: 10.2139/ssrn.1479499
  • Identifier:
  • Origination:
  • Footnote: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 28, 2009 erstellt
  • Description: We analyze the main forces affecting financial system pro-cyclicality (the fact that developments in the financial sector can amplify business cycle fluctuations). We first review some major structural developments in financial markets that may influence pro-cyclicality and that have been overlooked in earlier analyses. We then examine three issues that are center stage in the current debate: capital regulation, accounting standards and managers’ incentives. After reviewing the institutional set-up and the key mechanisms at work, we critically examine a series of proposals designed to mitigate pro-cyclicality
  • Access State: Open Access