This paper presents a model in which collateralized monetary loans are essential as trading instruments. Money and private debt collateralized by real assets complement each other as allocative tools, in an environment with informational and commitment limitations. Illiquid public debt may play a socially beneficial role, when collateral is scarce
In a multiple-good risk-sharing environment with ex post private information, conditions are found u...
We develop a model in which collateral serves to protect creditors from the claims of competing cred...
We study how allowing agents to use debt as collateral affects asset prices, leverage, and interest ...
This paper presents a model in which collateralized monetary loans are essential as trading instrum...
I study a model in which banks need to borrow to make risky loans whose return is private informatio...
Durable assets are widely used as collateral to secure the repayment of debt. This paper presents a ...
This article presents a simple equilibrium model in which collateralized credit emerges endogenously...
Secured debt has become a predominant form of credit. The purpose of this paper is to analyze collat...
We study whether borrowers optimally conserve debt capacity to take advantage of investment opportun...
In a simple risk-sharing environment with ex post private information, conditions are found under wh...
Abstract. In this paper we examine the effects of default and collateral on risk-sharing. We assume ...
This paper presents a three-period model to analyze why banks need bank reserves despite the presenc...
This paper presents a microfounded model of money where durable assets serve as a guarantee to repay...
Default risk is an important concern for lenders and is a main reason they require borrowers to pled...
I develop a dynamic model of optimal funding to understand why liquid financial assets are used as c...
In a multiple-good risk-sharing environment with ex post private information, conditions are found u...
We develop a model in which collateral serves to protect creditors from the claims of competing cred...
We study how allowing agents to use debt as collateral affects asset prices, leverage, and interest ...
This paper presents a model in which collateralized monetary loans are essential as trading instrum...
I study a model in which banks need to borrow to make risky loans whose return is private informatio...
Durable assets are widely used as collateral to secure the repayment of debt. This paper presents a ...
This article presents a simple equilibrium model in which collateralized credit emerges endogenously...
Secured debt has become a predominant form of credit. The purpose of this paper is to analyze collat...
We study whether borrowers optimally conserve debt capacity to take advantage of investment opportun...
In a simple risk-sharing environment with ex post private information, conditions are found under wh...
Abstract. In this paper we examine the effects of default and collateral on risk-sharing. We assume ...
This paper presents a three-period model to analyze why banks need bank reserves despite the presenc...
This paper presents a microfounded model of money where durable assets serve as a guarantee to repay...
Default risk is an important concern for lenders and is a main reason they require borrowers to pled...
I develop a dynamic model of optimal funding to understand why liquid financial assets are used as c...
In a multiple-good risk-sharing environment with ex post private information, conditions are found u...
We develop a model in which collateral serves to protect creditors from the claims of competing cred...
We study how allowing agents to use debt as collateral affects asset prices, leverage, and interest ...
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