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Rehypothecation

Rehypothecation refers to the practice of reusing (selling or pledging as collateral) an asset that has already been pledged as collateral for a cash loan. In high inflation economies, rehypothecation improves economic welfare, but there is generally too much of it. We find that regulatory constraints that limit the practice generally serve to improve economic welfare.
Year of publication:
2014
Authors: Zhang, Shengxing ; Martin, Fernando ; Andolfatto, David
Institutions: Society for Economic Dynamics - SED
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Type of publication: Book / Working Paper
Notes:
The text is part of a series 2014 SED Meeting Papers Number 806
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Persistent link: https://www.econbiz.de/10011133667
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