Asriyan, Vladimir; Laeven, Luc; Martin, Alberto - 2019
We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … projects. In equilibrium, the collateralization-screening mix depends on the value of aggregate collateral. High collateral … important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy …
