of open economies have been set up to model international
portfolio choices....and bond holdings within the framework of an open economy macroeconomic...
Increased importance of leasing after HNB regulatory measures
Modeling
Basic model...Comments, Suggestions, Questions
Why not try a simple structural supply-demand...
Data limitations
Empirical Model:
Data set construction:
Panel of non-overlapping...changes in mean GDP growth
Random effect estimation
Robust regression
...
Our model
• Many banks i=1,..N and two dates
• Time 0: Choice of investments &...negative externality e(W*-W1) on economy
Externality
W* = z A W1
Economic...
