Mirza, Harun; Moccero, Diego; Palligkinis, Spyros; … - 2020
implications for financial stability. We contribute to this debate assessing the asset price impact of fire sales in a novel … leverage constant. These fire sales generate second-round price effects. We find that the potential losses due to the price … impact of fire sales have decreased over time for the system. The contribution of funds to this impact is lower than that of …