to various shocks. This paper highlights the limited crossborder asset pledgeability as a significant factor for the … pledgeability that is left unaddressed. Asset pledgeability contributes toward financial stability via three channels: 1) capital … and expand the overall asset pledgeability in the region that has remained unduly depressed. …

. By developing a general equilibrium model where adverse selection and limited pledgeability coexist, this work highlights …

. By developing a general equilibrium model where adverse selection and limited pledgeability coexist, this work highlights …

and has an analytic solution. Such result allows to investigate the impact of pledgeability on informational efficiency …. The margin premium is shown to come with a "pledgeability bias", which increases the conditional variance of the price … threshold level. The impact of pledgeability contributes to explain comovement of asset prices and seemingly violations of the …

the concept of limited pledgeability proposed by Holmstrom and Tirole to integrate financial imperfections and labor …

the concept of limited pledgeability proposed by Holmstrom and Tirole to integrate financial imperfections and labor …