The Leverage Cycle

Equilibrium determines leverage, not just interest rates. Variations in leverage cause fluctuations in asset prices. This leverage cycle can be damaging to the economy, and should be regulated.

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Year of publication:	2009-07
Authors:	Geanakoplos, John
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Leverage \| Collateral \| Cycle \| Crisis \| Regulation

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in D. Acemoglu, K. Rogoff and M. Woodford, eds., NBER Macroeconomics Annual 2009. Chicago: University of Chicago Press, vol. 24, pp. 1-65 The price is None Number 1715R 57 pages
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E32 - Business Fluctuations; Cycles ; G01 - Financial Crises ; G12 - Asset Pricing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008605815