the part of borrowers has profound effects on asset prices. Quantitative analysis of a model of collateral equilibrium …) and a specification of the amount of collateral per dollar of lending. The latter is summarized by the margin or "haircut …" associated with the loan. Some key models of endogenous collateral constraints imply that the primary equilibrating force will be …

current value of collateral. Long-term debt implies that swings in leverage do not simply reflect shifts in borrowing, and …

real exchange rate- productivity growth, the value of the dollar, commodity prices- have tended to behave very differently …

Macedonia. The motivation stems from the expectation that different kind of borrowers might vary in terms of the use of credit … households' credits might induce and the positive impact that corporate credit might have on the overall productivity and …

pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value … properly general theory of pricing that can be applied to any market - whether financial, real, or a real market that has been … financialized - and which does not require that prices inevitably tend toward some prespecified market equilibrium. …