increases in financial and macroeconomic leverage. …

Market participants use leveraged derivatives to gain access to equity market exposure through broker banks. Leverage … prices due to market impact. The impact is amplified because of the leverage and when counterparties are exposed to multiple …

countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …

We assess the quantitative implications of collateral re-use on leverage, volatility, and welfare within an infinite … used to back more transactions. Re-use thus contributes to the buildup of leverage and significantly increases volatility … leverage and lower welfare. So the analysis in this paper provides a rationale for limiting, yet not banning, re-use in …

increased over time. Real estate funds (REIFs) and other housing investment …rms leverage large-scale buy …

choose both asset volatility and leverage, and identify how monetary policy transmits to bank risk. Subsequently, we …