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decline in the level of steady state output, relative to the baseline. The impact of the new liquidity regulation is of a …
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in the level of steady-state output, relative to the baseline. The impact of the new liquidity regulation is of a similar …
Persistent link: https://www.econbiz.de/10013128984
decline in the level of steady state output, relative to the baseline. The impact of the new liquidity regulation is of a …
Persistent link: https://www.econbiz.de/10013124761
Because of current bankruptcy law, the growth in unsecured credit in the two decades since the 1978 Marquette Supreme Court ruling has reduced the average welfare of the poor. This striking conclusion emerges from a theoretical model designed to maximize the benefits of both plentiful unsecured...
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decline in the level of steady state output, relative to the baseline. The impact of the new liquidity regulation is of a …
Persistent link: https://www.econbiz.de/10013067923
This paper presents an equilibrium model for the demand and supply of liquidity and its impact on asset prices and … liquidity and large price deviations from fundamentals. Moreover, market forces fail to lead to efficient supply of liquidity … efficiency consequences. For example, lowering the cost of supplying liquidity on the spot (e.g., through direct injection of …
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monetary theory, such as the welfare cost of inflation. It is shown that when money is a vital form of liquidity to meet …
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