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We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10012461542
We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10013123980
for riskless debt and indirectly for securitization, bank assets and leverage move together, banks become interconnected …
Persistent link: https://www.econbiz.de/10013101652
for riskless debt and indirectly for securitization, bank assets and leverage move together, banks become interconnected …
Persistent link: https://www.econbiz.de/10013106906
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"We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10009158793
Persistent link: https://www.econbiz.de/10008660558