. Players may share heterogenous beliefs. Short positions in derivatives are constrained by collateral requirements. A central … a significant inflation of commodity prices accompanies the functioning of markets. In particular, neither Friedman …

backed by collateral, the value of which depends on monetary policy. The decision to default is endogenous and depends on the … relative value of the collateral to the loan. We show that Collateral Monetary Equilibria exist and prove there is also a …

real per output growth, excess credit, foreign direct investment (FDI) and the current account balance, in the Central and … credit. The results are economically and statistically significant, and robust. …

basis (e.g. in 2008) to shadow prices of dollar funding constraints and interpret the basis as the relative physical …

Securities markets theory includes repo and distinguishes shorting from issuing. Here we revisit whether trading alone …

credit availability and cost. The high level of liquidity in financial markets allowed rising abundant and not expensive … additional cost compared to sovereign bonds. The credit crunch compromised the viability of deals, which are funded through …, even for deals for which the counterpart is a public body . Additionally, the disappearance of monoline insurers, which …