Asset-Price Boom-Bust Cycles and Credit: What is the Scope of Macro-Prudential Regulation?
نویسندگان
چکیده
منابع مشابه
Boom-Bust Cycles: Leveraging, Complex Securities, and Asset Prices
Recent history suggests that many boom-bust cycles are naturally driven by linkages between the credit market and asset prices. Additionally, new structured securities have been developed, e.g., MBS, CDOs, and CDS, which have acted as instruments of risk transfer. We show that there is a certain non-robustness in the pricing of these instruments and we create a model in which their role in the ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1630093