Towards a Measure of Financial Fragility
The paper proposes a measure of financial fragility that is based on economic welfare in a general equilibrium model calibrated against UK data. The model comprises a household sector, three active heterogeneous banks, a central bank/regulator, incomplete markets, and endogenous default. We address...
| Main Authors: | , , , |
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| Format: | Journal article |
| Published: |
2007
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