Debt Financing in Asset Markets
收藏NBER2012-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17935
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We study rollover risk and collateral value in a dynamic asset pricing model with endogenous debt financing by extending the framework of Geanakoplos (2009) with a generic binomial tree and time-varying heterogeneous beliefs. Optimistic borrowers face rollover risk if the belief dispersion between
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美国国家经济研究局创建时间：
2012-03-01
