dc.contributor.author | Juelsrud, Ragnar Enger | |
dc.contributor.author | Getz Wold, Ella | |
dc.date.accessioned | 2019-01-09T12:31:47Z | |
dc.date.available | 2019-01-09T12:31:47Z | |
dc.date.created | 2018-12-20T21:37:53Z | |
dc.date.issued | 2018 | |
dc.identifier.issn | 1042-9573 | |
dc.identifier.uri | http://hdl.handle.net/11250/2579952 | |
dc.description.abstract | We use a 2013 Norwegian policy reform to study how banks react to higher capital requirements and how these adjustments transmit to the real economy. Using bank balance sheet data, we document that banks raise capital ratios by reducing risk-weighted assets. Most of the reduction in risk-weighted assets is accounted for by a reduction in average risk weights. Consistent with this reduction in risk, we document a substantial decline in credit supply to the corporate sector relative to the household sector. We also show that banks react to higher requirements by increasing interest rates, consistent with the reduction in corporate credit growth being supply driven. Using administrative loan level tax data, we document a reduction in lending on the firm level. This is robust to controlling for firm fixed effects, thereby accounting for potential firm-bank matching. Finally, we find that the reduction in bank lending has a negative impact on firm employment growth and that this effect is driven by small firms | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Elsevier | nb_NO |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/deed.no | * |
dc.title | Risk-weighted capital requirements and portfolio rebalancing | nb_NO |
dc.type | Journal article | nb_NO |
dc.type | Peer reviewed | nb_NO |
dc.description.version | acceptedVersion | nb_NO |
dc.rights.holder | Authors are permitted to self-archive the peer-reviewed (but not final) version of a contribution on the contributor's personal website, in the contributor's institutional repository or archive, subject to an embargo period of 24 months for social science and humanities (SSH) journals and 12 months for scientific, technical, and medical (STM) journals following publication of the final contribution. | nb_NO |
dc.source.journal | Journal of Financial Intermediation | nb_NO |
dc.identifier.doi | https://doi.org/10.1016/j.jfi.2018.10.002 | |
dc.identifier.cristin | 1646505 | |
cristin.unitcode | 158,3,0,0 | |
cristin.unitname | Institutt for samfunnsøkonomi | |
cristin.ispublished | false | |
cristin.fulltext | postprint | |
cristin.qualitycode | 2 | |