Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?
收藏NBER2010-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w15817
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资源简介：
An iconic model with high leverage and overvalued collateral assets is used to illustrate the amplification mechanism driving asset prices to 'overshoot' equilibrium when an asset bubble bursts--threatening widespread insolvency and what Richard Koo calls a 'balance sheet recession'. Besides
提供机构：
美国国家经济研究局
创建时间：
2010-03-01
