Procyclicality and Monetary Aggregates
Financial intermediaries borrow in order to lend. When credit is increasing rapidly, the traditional deposit funding (core liabilities) is supplemented with other funding (non-core liabilities). We explore the hypothesis that monetary aggregates reflect the size of non-core and core liabilities an...
|Published:||Cambridge, Mass. : National Bureau of Economic Research, 2011.|
|Series:||Working Paper Series (National Bureau of Economic Research) ;
working paper no. 16836. |
|Online Access:||NBER Available only to UIC users|
No Tags, Be the first to tag this record!