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...

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Main Author: Shin, Hyun Song. (Author)
Corporate Author: National Bureau of Economic Research.
Other Authors: Shin, Kwanho.
Format: Book Electronic
Language:English
Published:Cambridge, Mass. : National Bureau of Economic Research, 2011.
Series:Working Paper Series (National Bureau of Economic Research) ; working paper no. 16836.
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University of Illinois at Chicago

Location: Electronic Collections

Online Access:NBER Available only to UIC users