Procyclicality, Bank Lending, and the Macroeconomic Implications of a Revised Basel Accord
Bank regulators are in the process of implementing revised regulatory capital standards. However, the macroeconomic effects of a revised Basel Accord are uncertain. Examining the various channels through which the revised Accord may influence economic output suggests that making the buffer stock of capital positively related to the business cycle is necessary to reduce procyclicality. This can be accomplished by bank regulators using either enhanced supervisory powers or increased financial disclosure. Copyright (c) 2010, The Eastern Finance Association.
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Volume (Year): 45 (2010)
Issue (Month): 4 (November)
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