Hahm, Joon-Ho
[VerfasserIn]
;
Shin, Hyun Song
[Sonstige Person, Familie und Körperschaft];
Shin, Kwanho
[Sonstige Person, Familie und Körperschaft]National Bureau of Economic Research
Non-Core Bank Liabilities and Financial Vulnerability
Erschienen:
Cambridge, Mass: National Bureau of Economic Research, September 2012
Erschienen in:NBER working paper series ; no. w18428
Umfang:
1 Online-Ressource
Sprache:
Englisch
DOI:
10.3386/w18428
Identifikator:
Reproduktionsnotiz:
Hardcopy version available to institutional subscribers
Entstehung:
Anmerkungen:
Mode of access: World Wide Web
System requirements: Adobe [Acrobat] Reader required for PDF files
Beschreibung:
A lending boom is reflected in the composition of bank liabilities when traditional retail deposits (core liabilities) cannot keep pace with asset growth and banks turn to other funding sources (non-core liabilities) to finance their lending. We formulate a model of credit supply as the flip side of a credit risk model where a large stock of non-core liabilities serves as an indicator of the erosion of risk premiums and hence of vulnerability to a crisis. We find supporting empirical evidence in a panel probit study of emerging and developing economies