Portfolio Diversification, Leverage, and Financial Contagion /

Models of 'contagion' rely on market imperfections to explain why adverse shocks in one asset market might be associated with asset sales in many unrelated markets. This paper demonstrates that contagion can be explained with basic portfolio theory without recourse to market imperfections....

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Autor principal: Smith, T.
Altres autors: Schinasi, Garry
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 1999.
Col·lecció:IMF Working Papers; Working Paper ; No. 1999/136
Accés en línia:Full text available on IMF

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