Liquidity Crises and the Market-Maker of Last Resort
收藏NBER2025-03-01 更新2025-03-29 收录
下载链接：
https://www.nber.org/papers/w33587
下载链接
链接失效反馈官方服务：
资源简介：
We study market illiquidity in an economy subject to non-fundamental shocks. Asset trading occurs via decentralized one-on-one bargaining. The model has multiple rational expectations equilibria; we associate certain Pareto inferior equilibria with liquidity crises. The government can improve
提供机构：
美国国家经济研究局
创建时间：
2025-03-01
