The Collateral Trap
收藏NBER2014-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20703
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Active wholesale financial markets help reallocate deposits across heterogeneous banks. Because of incentive problems these flows are constrained and collateral is needed. The composition of collateral matters. The use of inside assets (loans) creates a collateral pyramid in that cash flows from one
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美国国家经济研究局创建时间：
2014-11-01
