银行融资和风险承担

ERN: Banking & Monetary Policy (Topic) Pub Date : 2018-11-08 DOI:10.2139/ssrn.3281077

A. Ferrari, Carmen García Galindo, Matic Petriček, Andreas Winkler

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引用次数: 0

摘要

在本文中，我们使用一种新颖的方法来解决内生性问题，以估计杠杆对银行风险承担的因果效应。利用当地银行存款和当地失业率的数据，我们构建了一个工具，用于对新发放贷款构建的风险承担指标进行杠杆回归。结果证实，外生杠杆增加后，银行的风险承担增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Bank Funding and Risk Taking

In this paper we use a novel approach to address issues of endogeneity in estimating a causal effect of leverage on risk taking by banks. Using data on local bank office deposits and local unemployment we construct an instrument to use in a regression of leverage on a measure of risk taking constructed from new issuance of loans. The results confirm that banks increase their risk taking after an exogenous increase in leverage.

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ERN: Banking & Monetary Policy (Topic)

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