Browsing Titles index "Asset pledgeability and endogenously leveraged bubbles"
Now showing items 1-1 of 1
(Université de Montréal. Département de sciences économiques., 2018-06)We develop a simple model of defaultable debt and rational bubbles in the price of an asset, which can be pledged as collateral in a competitive credit pool. When the asset pledgeability is low, the down payment is high, and bubble investment is ...