Costly Collateral and the Public Supply of Liquidity /
This paper addresses two complications arising from the use of collateral requirements in debt contracts between wealth-constrained entrepreneurs and banks. First, costly asset liquidation is found to enhance the susceptibility of debt finance to interest rate volatility. Second, aggregate uncertain...
| 1. autor: | |
|---|---|
| Format: | Czasopismo |
| Język: | English |
| Wydane: |
Washington, D.C. :
International Monetary Fund,
2000.
|
| Seria: | IMF Working Papers; Working Paper ;
No. 2000/125 |
| Dostęp online: | Full text available on IMF |