Showing 1 - 10 of 83
Persistent link: https://www.econbiz.de/10011431541
Persistent link: https://www.econbiz.de/10012194616
Persistent link: https://www.econbiz.de/10012593887
Persistent link: https://www.econbiz.de/10013343616
Persistent link: https://www.econbiz.de/10011972440
Persistent link: https://www.econbiz.de/10011946623
Persistent link: https://www.econbiz.de/10012421678
Persistent link: https://www.econbiz.de/10005370806
We review the theory of leverage developed in collateral equilibrium models with incomplete markets. We explain how leverage tends to boost asset prices and create bubbles. We show how leverage can be endogenously determined in equilibrium and how it depends on volatility. We describe the...
Persistent link: https://www.econbiz.de/10010886189
We provide a pricing theory for emerging asset classes, like emerging markets, that are not yet mature enough to be attractive to the general public. We show how leverage cycles can cause contagion, flight to collateral, and issuance rationing in a frequently recurring phase we call the anxious...
Persistent link: https://www.econbiz.de/10005757012