Risk Sharing Externalities
收藏NBER2020-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w26985
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资源简介：
Financial crises typically arise because firms and financial institutions choose balance sheets that expose them to aggregate risk. We propose a theory to explain these risk exposures. We study a financial accelerator model where entrepreneurs can issue state-contingent claims to consumers. Even
提供机构：
美国国家经济研究局
创建时间：
2020-04-01
