Narrow search
Showing 31 - 40 of 650,471
Cover Image
Collateral constraints, debt management and investment incentives
Agliardi, Elettra; Andergassen, Rainer - In: Advances in quantitative analysis of finance and … 6 (2008), pp. 1-13
Persistent link: https://www.econbiz.de/10003733818
Cover Image
Optimal Monetary Policy in a Collateralized Economy
Gorton, Gary B. - 2016
Treasuries is high, a financial crisis is more likely. The central bank's open market operations affect the quality of collateral … into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries …, which have a convenience yield. In the new economy the quality of collateral matters: when Treasuries are scarce, the …
Persistent link: https://www.econbiz.de/10012983667
Cover Image
Optimal Monetary Policy in a Collateralized Economy
Gorton, Gary B. - 2016
Treasuries is high, a financial crisis is more likely. The central bank's open market operations affect the quality of collateral … into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries …, which have a convenience yield. In the new economy the quality of collateral matters: when Treasuries are scarce, the …
Persistent link: https://www.econbiz.de/10012984396
Cover Image
Debt as safe asset
Brunnermeier, Markus Konrad; Merkel, Sebastian; … - 2021
The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers’ interest burden and allows the government to run a...
Persistent link: https://www.econbiz.de/10012797027
Cover Image
Shadow banks and the collateral multiplier
Michl, Thomas R.; Park, Hyun Woong - 2021
With an emphasis on contributing to macroeconomic pedagogy we examine the collateral multiplier by comparing it to the … creating deposits, the collateral multiplier is a measure of the shadow banking system's ability to inter- mediate sovereign … debt by creating shadow money. It also measures the degree of re-use of sovereign debt as collateral. In this setup, the …
Persistent link: https://www.econbiz.de/10012549809
Cover Image
Debt as Safe Asset
Brunnermeier, Markus Konrad; Merkel, Sebastian A.; … - National Bureau of Economic Research - 2022
The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers' interest burden and allows the government to run a...
Persistent link: https://www.econbiz.de/10012814401
Cover Image
Public safe assets determination
Hung, Ly-Dai - In: Global economic review 49 (2020) 4, pp. 350-368
Persistent link: https://www.econbiz.de/10012384987
Cover Image
Safe assets, credit provision and debt management
Chiesa, Gabriella - In: Open economies review 31 (2020) 3, pp. 637-667
Persistent link: https://www.econbiz.de/10012302097
Cover Image
Quantitative easing, collateral constraints, and financial spillovers
Geanakoplos, John; Wang, Haobin - 2018
Persistent link: https://www.econbiz.de/10011948924
Cover Image
Optimal Monetary Policy in a Collateralized Economy
Gorton, Gary - 2016
Treasuries is high, a financial crisis is more likely. The central bank's open market operations affect the quality of collateral … into a system with significant amounts of wholesale short-term debt that relies on collateral, and in particular Treasuries …, which have a convenience yield. In the new economy the quality of collateral matters: when Treasuries are scarce, the …
Persistent link: https://www.econbiz.de/10012456080