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Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009
Persistent link: https://www.econbiz.de/10003886384
Cover Image
Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009 - This draft: September 13, 2009
Persistent link: https://www.econbiz.de/10003886469
Cover Image
Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009 - This draft: September 13, 2009
, and near-frictionless refinancing opportunities - led to vastly increased systemic risk in the financial system …
Persistent link: https://www.econbiz.de/10003889053