monetary policies. Consumers' credit constraints, the role of collateral and a portfolio choice are the key ingredients of our …

lent on) can be sold, and recursive use of securities as collateral allows agents to leverage their positions. A binding … box constraint induces a liquidity premium : the repro rate becomes special, the security price higher than expected …

This paper studies how the imperfect collateral assignments of patents contribute to "deep pockets'' savings of … innovations, using a version of the Kiyotaki and Moore [1997] model of credit cycles. Results are: patents as collateral leverage … of patents as collateral. …

This paper studies how the imperfect collateral assignments of patents contribute to "deep pockets'' savings of … innovations, using a version of the Kiyotaki and Moore [1997] model of credit cycles. Results are: patents as collateral leverage … of patents as collateral. …

We present CoMargin, a new methodology to estimate collateral requirements in derivatives central counterparties (CCPs … assess our methodology using proprietary data from the Canadian Derivatives Clearing Corporation that includes daily …

. Players may share heterogenous beliefs. Short positions in derivatives are constrained by collateral requirements. A central …This paper considers a two-period monetary double auction with incomplete markets of securities and derivatives … condition : 1) either the economy enters a liquidity trap in the first period ; 2) or the money injected by the Central Bank …