Information Externalities, Funding Liquidity, and Fire Sales
Information Externalities, Funding Liquidity, and Fire Sales
About this item
Full title
Author / Creator
Publisher
St. Louis: Federal Reserve Bank of St. Louis
Journal title
Language
English
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Publication information
Publisher
St. Louis: Federal Reserve Bank of St. Louis
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Scope and Contents
Contents
We develop a theory of learning in a model of fire sales and collateralized debt to study how beliefs about fundamentals are shaped by market conditions. Agents exchange short-term debt contracts to invest in a long-term risky asset, and receive shocks to the opportunity cost of funds (cost shocks) and news about the fundamental of the asset, both...
Alternative Titles
Full title
Information Externalities, Funding Liquidity, and Fire Sales
Authors, Artists and Contributors
Author / Creator
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Record Identifier
TN_cdi_proquest_journals_2712883776
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_2712883776
Other Identifiers
DOI
10.17016/FEDS.2022.052
How to access this item
https://www.proquest.com/docview/2712883776?pq-origsite=primo&accountid=13902
