Quarterly Journal of Austrian Economics
Author:
Arkadiusz Sieroń
Online Publish Date:
Quarterly Journal of Austrian Economics 19, no. 4 (Winter 2016) ABSTRACT: The aim of this article is to examine the impact of shadow banking on credit expansion and the business cycle. I focus on two main functions of the shadow banking system: securitization and collateral-intermediation. The former enables traditional banks to expand their