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Lesson 3 (time-seriets)le style

Countercyclical risk measures

  • Lean against bubbles

  • esp. if bursting of bubble affects banking sector

triggering a credit crunch Extend Taylor rule

  • Part of inflation index?

No

  • Mark-to-market on upturn

  • Mark-to-model/purchasing price on downturn

  • hinders recapitalization a la Japan, (debt-overhand)

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