Basel III reduces output volatility: NY Fed paper
A New York Federal Reserve paper published on Friday says the higher capital requirements under Basel III reduces the level and volatility of output in the long term.
The paper's authors – Paolo Angelini, Laurent Clerc, Vasco Cúrdia, Leonardo Gambacorta, Andrea Gerali, Alberto Locarno, Roberto Motto, Werner Roeger, Skander Van den Heuvel and Jan Vlček – assess the impact of higher capital and liquidity requirements, including the use of countercyclical capital buffers on long-term economic
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