Procyclicality, Bank Lending, and the Macroeconomic Implications of a Revised Basel Accord
研究了修订版巴塞尔协议可能通过哪些渠道影响经济产出，认为将资本缓冲与商业周期正相关是降低顺周期性的必要条件，可通过加强监管或增加信息披露实现。
Abstract Bank regulators are in the process of implementing revised regulatory capital standards. However, the macroeconomic effects of a revised Basel Accord are uncertain. Examining the various channels through which the revised Accord may influence economic output suggests that making the buffer stock of capital positively related to the business cycle is necessary to reduce procyclicality. This can be accomplished by bank regulators using either enhanced supervisory powers or increased financial disclosure.