collateral constraint
Collateral Constraint and News-driven Cycles
... as collateral, and firms need to hold collateral to finance their input ...of collateral becomes lower than the steady state ...financial constraint becomes tighter, which increases the labor ...
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The Impacts of Monetary Policy on Macroeconomic Variables Assuming the Collateral Constraint
... Over the past decade, the government and the monetary authorities have been seeking to provide housing for low-income households. This can affect the volume of money, given the central bank’s lack of independence and the ...
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"Irrational exuberance" in the Pigou cycle under collateral constraints
... the collateral constraint in financing labor input or investment, a fairly standard model can reproduce the Pigou cycle in response to the changes in ...
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Overborrowing, financial crises and ‘macro-prudential’ taxes
... the collateral constraint limits private agents not to borrow more than a fraction of the market value of their collateral assets, which take the form of an asset in fixed aggregate supply ...the ...
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Rational Housing Bubble
... My research question is the following: can housing assets have a rational bub- ble with both properties described above? This paper departs from the two-period consumption-loan model developed by Samuelson (1958) with ...
77
A Model of housing and credit cycles with imperfect market knowledge
... AKM develop an open economy asset pricing model with a housing collateral constraint and learning which quantitatively accounts for the heterogeneous G7 house prices and current account dynamics over ...
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Financial intermediation, house prices, and the distributive effects of the U.S. great recession
... a collateral constraint that links debt to the level of durables - generates a decrease in borrowers’ demand for durables that increases as agents are close to the the credit ...
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Essays in macroeconomics: The role of housing for monetary and fiscal policy
... are collateral constrained and their debt is collateralized by ...the collateral constraint can be interpreted as an endogenous outcome in the absence of debt ...of collateral, ...of ...
136
Overborrowing, Financial Crises and 'Macro-prudential' Taxes
... a collateral constraint limits access to debt and working capital loans to a fraction of the market value of an asset in fixed supply ...this constraint taking prices as given, with those attained by ...
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Three Essays on Macroeconomics and Finance.
... as collateral for debt ...to collateral constraints can amplify and propagate small and temporary shocks into large and persistent effects on the ...a collateral constraint, the amount a firm ...
140
Sudden Stops and Output Drops
... a collateral constraint. We view fluctuations in this collateral con- straint as arising from fluctuations in a country’s ...budget constraint implies that an abrupt decrease in capital ...
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Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
... of collateral constraints limiting the size of debt to a fraction of the market value of an asset, such as land or ...the collateral constraint is binding are accompanied by fire sales of ...
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Essays on Liquidity, Informational Frictions, and Monetary Policy
... incentive constraint tends to be non-binding with higher V ...of collateral government ...incentive constraint binds but the collateral constraint does not bind in ...the ...
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HuoRiosRullDiscussion
... the collateral constraint shock plays a bigger role then the borrowing surcharge ...The collateral constraint shock force households to reduce their debt to meet the new requirement, and ...
17
The economics of collateral
... of collateral scarcity? As in Levels and Capel, most macro estimates of total collateral supply take collateral to be a constant proportion of acceptable ...that collateral supply need not ...
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Endogenous Collateral
... exogenous collateral model (without utility penalties) of Dubey, Geanakoplos and Zame ...endogenous collateral, as proposed in this paper, is Pareto superior to the no-default equilibria, to the exogenous ...
40
Collateral and competition
... the collateral requirement (under reasonable ...low collateral requirements to induce the borrower to bear the strategic risk of remedying contractual inefficiencies through ...
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Cosigners As Collateral
... The defaults we measure re‡ect payments made by the borrower to the Rosca organizer – and some of these may indeed be …nancial help that the borrower has received from cosigners –but not payments collected directly from ...
34
Cosigners as Collateral
... traditional collateral does. Unlike traditional collateral, cosigners may also promote repayment by providing a borrower with insurance if she experiences a shock (Rai and Sjöström, ...
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The Invisible Collateral
... invisible collateral for an individual can be used to reduce credit risk for the ...invisible collateral being a non-monetary cost derived from community can be helpful in designing policies like credit ...
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