A thread on my paper on macroprudential (accounting) rules and monetary policy, out on the RFS! We study how the valuation of banks' security holdings affect banks' response to monetary policy. Main focus is lending, but we also study security trading t.co/uC3mnopeES
t.co
https://academic.oup.com/rfs/advance-article/doi/10.1093/rfs/hhae085/7921423
