Bank Regulation and Macroeconomic Fluctuations

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Subfields: Finance

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Central banks and financial crises (2008, background): “The procyclicality of the Basel requirements (and especially of Basel II) (which began to be introduced just around the time the crisis erupted) had, of course, been noted before (see e.g. Borio, Furfine and Lowe (2001), Goodhart (2004), Kashyap and Stein (2004) and Gordy and Howells (2004)).”
House Prices, Money, Credit and the Macroeconomy (2008, unknown): “8Hofmann (2003), Goodhart and Hofmann (2004a) and Goodhart et al. (2006) analyse the relationship between bank lending and property prices based on a multivariate empirical framework and find that causality does in fact seem to go in both directions, but that the effect of property prices on credit…”
Pro-Cyclical Capital Regulation and Lending (2016, unknown): “…the pro-cyclicality of regulation used simulation models5 or analyzed the effects of business cycles on aggregate buffers.6 Our findings confirm the warnings regarding Basel II capital regulation by policy analysts such as Borio et al. (2001), Goodhart et al. (2004), and Gordy and Howells (2006).”