Macro Prudential Policies from a Micro Prudential Angle / Cordella, Tito.
The standard macro(prudential) models focus on externalities and treat all prudential instruments as alternative, but equivalent, forms of Pigouvian taxes. This paper explicitly models individual banks' risk choices and shows that different prudential instruments affect banks' risk-taking...
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Full Text (via Open Knowledge Repository) |
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| Other title: | World Bank e-Library. |
| Format: | Electronic eBook |
| Language: | English |
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Washington, D.C. :
The World Bank,
2013.
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| Series: | Policy research working papers.
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