Capital Requirements in a Quantitative Model of Banking Industry Dynamics
NBER Working Paper No. 25424
---- Acknowledgments ----
The authors wish to thank John Boyd, Gianni DeNicolo, Jean-Francois Houde, Victor Rios-Rull, and Skander Van Den Heuvel, as well as seminar participants at the Federal Reserve Board, European Central Bank, European Commission, and FDIC; Central Banks of Argentina, Canada, Chile, Columbia, Mexico, Netherlands, Norway, Portugal, Spain, Sweden, Turkey, and Uruguay; the Federal Reserve Banks of Atlanta, Chicago, Cleveland, Kansas City, Minneapolis, New York, and St. Louis; the Universities of British Columbia, UCLA, Carnegie Mellon/Pittsburgh, Chicago Booth, Colorado - Boulder, Cologne, Columbia, Cornell, Drexel, European University Institute, George Washington, Goethe, Indiana, London Business School, Maryland, McMaster, Michigan, Minnesota, NYU, Notre Dame, Ohio State, Penn, Penn State, Princeton, Queens, Rice, Rochester, Southern California, Tilburg, Toronto, Tsinghua; the Allied Social Science Association, CIREQ Macroeconomics Conference, Econometric Society, Sciences Po Macro Finance Conference, and Society for Economic Dynamics for helpful comments. The views expressed in this paper do not necessarily reflect those of the Federal Reserve Bank of Philadelphia, the Federal Reserve System, or the National Bureau of Economic Research.