Pecuniary Externalities in Economies with Financial Frictions
收藏NBER2016-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22444
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资源简介：
This paper characterizes the efficiency properties of competitive economies with financial constraints, in which phenomena such as fire sales and financial amplification may arise. We show that financial constraints lead to two distinct types of pecuniary externalities: distributive externalities
提供机构：
美国国家经济研究局
创建时间：
2016-07-01
