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Pecuniary Externalities in Economies with Financial Frictions

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Publication:4610883
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DOI10.1093/restud/rdx010zbMath1405.91369OpenAlexW2585557295MaRDI QIDQ4610883

Eduardo Torres Davila, Anton Korinek

Publication date: 23 January 2019

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: http://www.nber.org/papers/w22444.pdf


zbMATH Keywords

systemic riskfinancial amplificationfire salespecuniary externalitiesmacro-prudential regulation


Mathematics Subject Classification ID

Special types of economic markets (including Cournot, Bertrand) (91B54) Actuarial science and mathematical finance (91G99)


Related Items (8)

Financial contracting with enforcement externalities ⋮ Constrained inefficiency of competitive entrepreneurship ⋮ Pecuniary externalities, bank overleverage, and macroeconomic fragility ⋮ Long-term bank lending and the transfer of aggregate risk ⋮ An experiment on the efficiency of bilateral exchange under incomplete markets ⋮ Deterministic debt cycles in open economies with flow collateral constraints ⋮ Bank capital, fire sales, and the social value of deposits ⋮ Risky human capital accumulation with endogenous skill premium







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