Shocks at large banks and banking sector distress: The Banking Granular Residual
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چکیده
منابع مشابه
Shocks at large banks and banking sector distress: the Banking Granular Residual
Size matters in banking. In this paper, we explore whether shocks originating at large banks affect the probability of distress of smaller banks and thus the stability of the banking system. Our analysis proceeds in two steps. In a first step, we follow Gabaix (2005) and construct a measure of idiosyncratic shocks at large banks, the so-called Granular Residual. This measure documents the impor...
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ژورنال
عنوان ژورنال: Journal of Financial Stability
سال: 2009
ISSN: 1572-3089
DOI: 10.1016/j.jfs.2008.12.002