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The availability of credit varies over the business cycle through shifts in the leverage of financial intermediaries. Empirically, we find that intermediary leverage is negatively aligned ...
We explore the extent to which Önancial conditions áuctuate due to áuctuations in leverage, and thereby connect the recent literature on banking crises with the ìleverage e§ectîof Fisher Bla...
The availability of credit varies over the business cycle through shifts in the
leverage of financial intermediaries. Empirically, we find that intermediary leverage is negatively aligned...
We explore the extent to which Önancial conditions áuctuate due
to áuctuations in leverage, and thereby connect the recent literature
on banking crises with the ìleverage e§ectîof Fisher B...