Bank Regulation and Macroeconomic Fluctuations

DC Field Value Language
dc.contributor.authorGoodhart, Charles-
dc.contributor.authorHofmann, Boris-
dc.contributor.authorSegoviano, Miguel-
dc.identifier.citationSeoul Journal of Economics 19 (No. 1 2006): 3-42en
dc.description.abstractOver the last two decades, macroeconomic cycles were frequently associated with boom-bust cycles in bank lending and asset prices, often followed by financial instability. In this paper we argue that (i) the new pattern of macroeconomic cycles is partly the result of banking-sector liberalization since the early/mid-1970s, which has increased the procyclicality of the financial system; (ii) the regulation of bank capital in the form of capital adequacy requirements is itself inherently pro cyclical and may therefore amplify business-cycle fluctuations; (iii) the new Basel II Accord may considerably accentuate the procyclicality of the regulatory system.-
dc.publisherSeoul Journal of Economicsen
dc.subjectBasel IIen
dc.subjectAsset pricesen
dc.subjectBank lendingen
dc.titleBank Regulation and Macroeconomic Fluctuationsen
dc.typeSNU Journalen
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.19(1) (Spring 2006)
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