The leverage cycle default and foreclosure

At least since the time of Irving Fisher economists as well as the general public have regarded the interest rate as the most important variable in the economy. But in times of crisis collateral rates (margins or leverage equivalently) are far more important. Despite the cries of newspapers to lower...

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Detalles Bibliográficos
Autor principal: Geanakoplos, John
Formato: Artículo
Lenguaje:eng
Publicado: Banco Central de Chile 2019
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Acceso en línea:https://hdl.handle.net/20.500.12580/3805
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