Intermediary Asset Pricing
收藏NBER2008-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14517
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资源简介：
We present a model to study the dynamics of risk premia during crises in asset markets where the marginal investor is a financial intermediary. Intermediaries face a constraint on raising equity capital. When the constraint binds, so that intermediaries' equity capital is scarce, risk premia rise to
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美国国家经济研究局创建时间：
2008-12-01
