The Cyclicality of Leverage

Tobias Adrian, Nina Boyarchenko, and Hyun Song Shin
Staff Reports, Number 743, October 2015
Revised December 2016

Author Disclosure Statements

Tobias Adrian
The author declares that he has no relevant or material financial interests that relate to the research described in this paper.

Nina Boyarchenko
The author declares that she has no relevant or material financial interests that relate to the research described in this paper.

Hyun Song Shin
The author declares that he has no relevant or material financial interests that relate to the research described in this paper.

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