Overborrowing, Financial Crises and 'Macro-prudential' Policy /
This paper studies overborrowing, financial crises and macro-prudential policy in an equilibrium model of business cycles and asset prices with collateral constraints. Agents in a decentralized competitive equilibrium do not internalize the negative effects of asset fire-sales on the value of other...
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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
2011.
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| coleção: | IMF Working Papers; Working Paper ;
No. 2011/024 |
| Acesso em linha: | Full text available on IMF |