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This paper analyzes the net impact of two opposing effects of active risk management at banks on their stability: higher risk-taking incentives and better isolation of credit supply from varying economic conditions. We present a model where banks actively manage their portfolio risk by buying and selling credit protection. We show that anticipation of future risk management opportunities allows banks...
With the outbreak of global financial crisis, the stability of financial system has become a hot topic. Assuming financial system compositing of financial innovation and financial supervision, making use of nonlinear dynamic theory and Bertrand duopoly, we have deduced a nonlinear dynamic model of financial system and studied the stability of this system through model analysis and numerical simulation...
The global financial crisis triggered by the U.S. sub-prime mortgage crisis can be explained from different aspects. The heterogeneity of China's financial system maintained financial stability. The active fiscal policy and easy monetary policy had played a stabilizing role in overcoming the economic downturn, but the efficiency of investment uncertainty and crowding-out effect will further exacerbate...
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