Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework:
There is a widespread view that bank capital requirements should be loosened during recessions and tightened during expansions to avoid excessive credit and output swings. This view is based on a partial analysis that ignores the effects of capital requirement policies on the saving decisions of hou...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 05/168 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
| Zusammenfassung: | There is a widespread view that bank capital requirements should be loosened during recessions and tightened during expansions to avoid excessive credit and output swings. This view is based on a partial analysis that ignores the effects of capital requirement policies on the saving decisions of households, and, through this channel, on bank loans and output. We present an intertemporal general equilibrium framework that accounts for such effects and evaluate the optimal responses to loan supply and productivity (loan demand) shocks. In contrast to the standard view, we show that, when loan supply is reduced, increasing the capital requirement allows a faster recovery of households'' savings, loans, and output than a flat capital requirement policy. When productivity (loan demand) is reduced, lowering the capital requirement facilitates households'' dissaving and amplifies the output decline, but enhances welfare. Finally, we show that if productivity reductions are anticipated-rather than unanticipated-by regulators, lowering the capital requirement preemptively enhances welfare through greater intertemporal smoothing of households'' consumption and deposit holdings |
| Beschreibung: | 1 Online-Ressource (36 p) |
| ISBN: | 1451861877 9781451861877 |
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| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:34Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Ganapolsky, Eduardo J.J. Verfasser aut Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework Ganapolsky, Eduardo J.J Washington, D.C International Monetary Fund 2005 1 Online-Ressource (36 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/168 There is a widespread view that bank capital requirements should be loosened during recessions and tightened during expansions to avoid excessive credit and output swings. This view is based on a partial analysis that ignores the effects of capital requirement policies on the saving decisions of households, and, through this channel, on bank loans and output. We present an intertemporal general equilibrium framework that accounts for such effects and evaluate the optimal responses to loan supply and productivity (loan demand) shocks. In contrast to the standard view, we show that, when loan supply is reduced, increasing the capital requirement allows a faster recovery of households'' savings, loans, and output than a flat capital requirement policy. When productivity (loan demand) is reduced, lowering the capital requirement facilitates households'' dissaving and amplifies the output decline, but enhances welfare. Finally, we show that if productivity reductions are anticipated-rather than unanticipated-by regulators, lowering the capital requirement preemptively enhances welfare through greater intertemporal smoothing of households'' consumption and deposit holdings Online-Ausg Catalán, Mario Sonstige oth http://elibrary.imf.org/view/IMF001/01511-9781451861877/01511-9781451861877/01511-9781451861877.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Ganapolsky, Eduardo J.J Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title_auth | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title_exact_search | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title_exact_search_txtP | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title_full | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework Ganapolsky, Eduardo J.J |
| title_fullStr | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework Ganapolsky, Eduardo J.J |
| title_full_unstemmed | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework Ganapolsky, Eduardo J.J |
| title_short | Cyclical Implications of Changing Bank Capital Requirements in a Macroeconomic Framework |
| title_sort | cyclical implications of changing bank capital requirements in a macroeconomic framework |
| url | http://elibrary.imf.org/view/IMF001/01511-9781451861877/01511-9781451861877/01511-9781451861877.xml |
| work_keys_str_mv | AT ganapolskyeduardojj cyclicalimplicationsofchangingbankcapitalrequirementsinamacroeconomicframework AT catalanmario cyclicalimplicationsofchangingbankcapitalrequirementsinamacroeconomicframework |