التفاصيل البيبلوغرافية
| العنوان: |
Population Aging and Bank Risk-Taking. |
| المؤلفون: |
Doerr, Sebastian1 (AUTHOR) sebastian.doerr@bis.org, Kabaş, Gazi2 (AUTHOR) g.kabas@tilburguniversity.edu, Ongena, Steven3 (AUTHOR) steven.ongena@bf.uzh.ch |
| المصدر: |
Journal of Financial & Quantitative Analysis. Nov2024, Vol. 59 Issue 7, p3037-3061. 25p. |
| مصطلحات موضوعية: |
*BANK loans, *RISK-taking behavior, *ECONOMIC equilibrium, *RISK management in business, *BANKING industry, *INCOME, *NONPERFORMING loans, POPULATION aging |
| مستخلص: |
What are the implications of an aging population for financial stability? To examine this question, we exploit geographic variation in aging across U.S. counties. We establish that banks with higher exposure to aging counties increase loan-to-income ratios. Laxer lending standards lead to higher nonperforming loans during downturns, suggesting higher credit risk. Inspecting the mechanism shows that aging drives risk-taking through two contemporaneous channels: deposit inflows due to seniors' propensity to save in deposits; and depressed local investment opportunities due to seniors' lower credit demand. Banks thus look for riskier clients, especially in counties where they operate no branches. [ABSTRACT FROM AUTHOR] |
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