Towards a measure of financial fragility
This 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: | Working paper |
| Published: |
University of Oxford
2006
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