Is the Leverage of European Commercial Banks Pro-Cyclical?
Angelo Baglioni (),
Andrea Boitani (),
Massimo Liberatore () and
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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)
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)
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-eec, nep-fmk and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ctc:serie3:ief0093
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