nominal interest rate), in a general-equilibrium model of asset pricing and risk sharing with endogenous collateral … constraints of the kind proposed by Geanakoplos (1997). The existence of collateral constraints allows our model to capture the …-bank purchases raise the price of the asset, owing to binding collateral constraints, the effects need not be the ones commonly …

unsecured lending and substantial increases in haircuts on posted collateral. This paper seeks to understand the implications of …

intended effects of the policies), and their possible collateral effects on financial stability. The present paper compares …

amplification in response to domestic shocks or global spillovers and pecuniary externalities caused by Fisherian collateral …

into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries …, which have a convenience yield. In the new economy the quality of collateral matters: when Treasuries are scarce, the … Treasuries is high, a financial crisis is more likely. The central bank's open market operations affect the quality of collateral …

When firms are able to pledge their assets as collateral, investment and borrowing become endogenous: pledgeable assets … between capital spending and cash flows is non-monotonic in the firm's asset tangibility. Our theory allows us to use a …

classical option theory. A substantial literature has emerged examining the problem, focusing on the characteristics of the … behavior, using both householder characteristics and collateral (house) value. Second, it empirically recognizes important … interactions between the status of the prepayment option and the influence of income and collateral constraints upon prepayment …