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Measuring the probability of a financial crisis
When financial firms are undercapitalized, they are vulnerable to external shocks. The natural response to such vulnerability is to reduce leverage, and this can endogenously start a financial crisis. Excessive credit growth, the main cause of financial crises, is reflected in the undercapitalizatio...
| Autores principales: | , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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National Academy of Sciences
2019
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6744912/ https://www.ncbi.nlm.nih.gov/pubmed/31455741 http://dx.doi.org/10.1073/pnas.1903879116 |