Shadow Banking and the Design of Macroprudential Policy in a Monetary Union

Shadow Banking and the Design of Macroprudential Policy in a Monetary Union

This paper studies the interaction of international shadow banking with monetary and macroprudential policy in a two-country currency union DSGE model. We find evidence that cross-country .financial integration through the shadow banking system is a source of .financial contagion in response to idio...

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Pubblicato in:MAGKS - Joint Discussion Paper Series in Economics (Band 24-2020)
Autori principali: Kirchner, Philipp, Schwanebeck, Benjamin
Natura: Articolo
Lingua:inglese
Pubblicazione: Philipps-Universität Marburg 2020
Soggetti:
currency union
shadow banking
macroprudential policy
…nancial frictions
…nancial inte- gration
Wirtschaft
Economics
Accesso online:PDF Full Text
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MAGKS - Joint Discussion Paper Series in Economics

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