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Fire sales in a model of complexity
Caballero, Ricardo J.; Simser, Alp - In: The journal of finance : the journal of the American … 68 (2013) 6, pp. 2549-2587
Persistent link: https://www.econbiz.de/10010237379
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Fire sales in a model of complexity
Caballero, Ricardo J.; Simek, Alp - 2009
Persistent link: https://www.econbiz.de/10003942535
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Fire sales in a model of complexity
Caballero, Ricardo J.; Simsek, Alp - 2009
Persistent link: https://www.econbiz.de/10003904248
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Fire Sales in a Model of Complexity
Caballero, Ricardo J.; Simsek, Alp - 2011
In this paper we present a model of fire sales and market breakdowns, and of the financial amplification mechanism that follows from them. The distinctive feature of our model is the central role played by endogenous uncertainty. As conditions deteriorate, more “banks” within the financial...
Persistent link: https://www.econbiz.de/10014201970
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Fire Sales in a Model of Complexity
Caballero, Ricardo J. - 2009
Financial assets provide return and liquidity services to their holders. However, during severe financial crises many asset prices plummet, destroying their liquidity provision function at the worst possible time. In this paper we present a model of fire sales and market breakdowns, and of the...
Persistent link: https://www.econbiz.de/10012463170
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Fire Sales in a Model of Complexity
Caballero, Ricardo J. - 2009
Financial assets provide return and liquidity services to their holders. However, during severe financial crises many asset prices plummet, destroying their liquidity provision function at the worst possible time. In this paper we present a model of fire sales and market breakdowns, and of the...
Persistent link: https://www.econbiz.de/10013155022
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Adjustment is much slower than you think
Caballero, Ricardo J.; Engel, Eduardo - 2003
holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and … actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …
Persistent link: https://www.econbiz.de/10011609531
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Uncertainty, investment, and industry revolution
Caballero, Ricardo J.; Pindyck, Robert S. - 1992
Persistent link: https://www.econbiz.de/10000136756
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Explaining investment dynamics in US manufacturing : a generalized (S,s) approach
Caballero, Ricardo J.; Engel, Eduardo - 1994
Persistent link: https://www.econbiz.de/10000921654
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Nonlinear aggregate investment dynamics : theory and evidence
Caballero, Ricardo J.; Engel, Eduardo - 1998
Persistent link: https://www.econbiz.de/10000995524