in terms of screening of borrowers and in collateral requirements. We find robust evidence that during upturns, riskier …

diffusion of collateral agreements among OTC derivatives market counterparties, and on the consequent change of paradigm for …

). By working out the sequence of market transactions, we show that the effectiveness of collateral in avoiding equilibrium …, the separation of borrower by means of sufficient collateral does not impede the emergence of credit rationing, which … suitable endowments, the use of collateral in credit contracts could not be a socially efficient screening-device. Our …

We present a theory of banking regulation affecting procedural compliance in monitoring collateral in secured debt …, no ex post strategy is available to the regulator once the bad state has occurred. We argue that the collateral value is …

form of secured collateral loans, as in Kiyotaki-Moore (1997), and also as unsecured reputational loans suggested in Bulow …. We also find highly periodic and volatile limit cycles in economies with small amounts of collateral. …

concerns. Depending on the collateral agreement, collateral can be in the form of cash in different currencies, but also in the …