Collateral equilibrium. I: A basic framework
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Publication:403702
DOI10.1007/S00199-013-0797-4zbMath1307.91200OpenAlexW3125585754MaRDI QIDQ403702
William R. Zame, John D. Geanakoplos
Publication date: 29 August 2014
Published in: Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1007/s00199-013-0797-4
Microeconomic theory (price theory and economic markets) (91B24) General equilibrium theory (91B50) Actuarial science and mathematical finance (91G99)
Related Items (26)
Asset pledgeability and endogenously leveraged bubbles ⋮ Prices and investment with collateral and default ⋮ Equilibrium efficiency with secured and unsecured assets ⋮ Over-the-counter trade and the value of assets as collateral ⋮ Partially revealing rational expectations equilibrium with real assets and binding constraints ⋮ Intertemporal equilibrium with financial asset and physical capital ⋮ On default and uniqueness of monetary equilibria ⋮ Debt-deflation versus the liquidity trap: the dilemma of nonconventional monetary policy ⋮ Incomplete financial markets with real assets and wealth-dependent credit limits ⋮ Endogenous leverage and asset pricing in double auctions ⋮ The effects of dependent beliefs on endogenous leverage ⋮ Effects of credit limit on efficiency and welfare in a simple general equilibrium model ⋮ Collateral and reputation in a model of strategic defaults ⋮ Collateral constraints, tranching, and price bases ⋮ Haircuts, interest rates, and credit cycles ⋮ Credit segmentation in general equilibrium ⋮ On the Pareto efficiency of term structure targeting policies ⋮ Recourse loans and Ponzi schemes ⋮ Debt collateralization, capital structure, and maximal leverage ⋮ Credit risk in general equilibrium ⋮ Equilibrium in collateralized asset markets: credit contractions and negative equity loans ⋮ Production, bankruptcy, and financial policies under collateral constraints ⋮ Collateralized borrowing and increasing risk ⋮ Entrepreneurs, legal institutions and firm dynamics ⋮ Prudential capital controls or bailouts? The impact of different collateral constraint assumptions ⋮ Asset shortages, liquidity and speculative bubbles
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