) and a specification of the amount of collateral per dollar of lending. The latter is summarized by the margin or "haircut …" associated with the loan. Some key models of endogenous collateral constraints imply that the primary equilibrating force will be … the part of borrowers has profound effects on asset prices. Quantitative analysis of a model of collateral equilibrium …

Munich in July 2016. The goal of the thesis is to establish the configuration of collateral policy as a tool of central bank … policies in pursuit of different objectives, and to present collateral policies in practice, as well as impact and effects of … collateral policy. The thesis consists of three parts and nine chapters. The first part discusses the role of collateral in …

model of collateralized lending in which: (1) borrowers endogenously determine collateral quality, and (2) lenders can … produce costly information about collateral. In equilibrium, lenders do not produce information and borrowers in wealthier … economies optimally use lower quality collateral. Crises are triggered by unexpected shocks to collateral quality. Wealthier …