| Autor: |
Catão, Luís A. V., Ditzen, Jan, Kaat, Daniel Marcel te |
| Rok vydání: |
2023 |
| Předmět: |
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| Druh dokumentu: |
Working Paper |
| Popis: |
We show that fluctuations in the ratio of non-core to core funding in the banking systems of advanced economies are largely driven by three global factors of both real and financial natures, with country-specific factors playing only a minor role. Exchange rate flexibility helps insulate the non-core to core ratio from such global factors. This insulation is stronger in periods away from global crises. Tighter prudential regulations appear to have a complementary effect to exchange rate insulation. |
| Databáze: |
arXiv |
| Externí odkaz: |
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