Endogenous Cycles in Collateralized Credit

This paper presents a simple and tractable equilibrium model, where collateralized credit emerges under limited commitment. We show that even if there is no time variation in fundamentals, credit trade can fluctuate endogenously over time. In our theory, credit fragilities are associated with endoge...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2024-03, Vol.56 (2-3), p.627-646
Hauptverfasser:	ARBUZOV, VYACHESLAV, AWAYA, YU, FUKAI, HIROKI, WATANABE, MAKOTO
Format:	Artikel
Sprache:	eng
Schlagworte:	collateral Credit Endogenous endogenous credit market fluctuations Equilibrium search
Online-Zugang:	Volltext
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