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    Essays on the measurement of leverage and risk of banking institutions by Yong, Vincent Gan Beng

    Published 2015
    “…Finally, we apply autoregressive models and Markov switching to study the effectiveness of the new measure and derive conclusions on the role of commercial banks in the 2008-2009 Global Financial Crisis. We find that SysLev outperforms STLFSI. We also find that aggregate balance sheet changes of the commercial banking sector can exert significant short term effects on the real economy. …”
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    Thesis