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Is the Leverage of European Commercial Banks Pro-Cyclical?

  • Angelo Baglioni

    ()

    (DISCE, Università Cattolica)

  • Andrea Boitani

    ()

    (DISCE, Università Cattolica)

  • Massimo Liberatore

    ()

    (DISCE, Università Cattolica)

  • Andrea Monticini

    ()

    (DISCE, Università Cattolica)

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".

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File URL: http://www.unicatt.it/Istituti/EconomiaFinanza/Quaderni/ief0093.pdf
File Function: First version, 2010
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Paper provided by Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE) in its series DISCE - Quaderni dell'Istituto di Economia e Finanza with number ief0093.

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Length: 9
Date of creation: May 2010
Date of revision:
Handle: RePEc:ctc:serie3:ief0093
Contact details of provider: Web page: http://www.unicatt.it/Istituti/EconomiaFinanza
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