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Is the Leverage of European Commercial Banks Pro-Cyclical?

Angelo Baglioni (), Andrea Boitani (), Massimo Liberatore () and Andrea Monticini
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Massimo Liberatore: DISCE, Università Cattolica

No ief0093, DISCE - Quaderni dell'Istituto di Economia e Finanza from Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE)

Abstract: Detecting whether banks?leverage is indeed procyclical is relevant to support the view that booms and crises may be reinforced by some sort of supply side ?nancial accelerator, whilst ?nding a plausible ex- planation of banks?behaviour is crucial to trace the road for a sensible reform of ?nancial regulation and managers? incentives. The paper shows that procyclical leverage appears to be well entrenched in the behaviour of a sample of major European banks, which are commonly labelled as mainly "commercial banks".

Keywords: Banks; Pro-cyclicality; Financial Regulation. (search for similar items in EconPapers)
JEL-codes: G21 E3 (search for similar items in EconPapers)
Pages: 9
Date: 2010-05
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-eec, nep-fmk and nep-reg
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