Securitization without Adverse Selection: The Case of CLOs
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For nearly a decade prior to the collapse of structured finance markets in late 2007, securitization by collateralized loan obligations (CLOs) was a key source of capital for the high-yield corporate loan market. In this paper, we investigate whether securitization was associated with risky lending
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美国国家经济研究局创建时间：
2011-02-01
