The collateralizability premium
A common prediction of macroeconomic models of credit market frictions is that the tightness of financial constraints is countercyclical. As a result, theory implies a negative collateralizability premium; that is, capital that can be used as collateral to relax financial constraints provides insura...
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| Published in | IDEAS Working Paper Series from RePEc |
|---|---|
| Main Authors | , , , |
| Format | Paper |
| Language | English |
| Published |
St. Louis
Federal Reserve Bank of St. Louis
01.01.2019
|
| Online Access | Get full text |
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