Liquidity Constraints in Commercial Loan Markets with Imperfect Information and Imperfect Competition
نویسندگان
چکیده
منابع مشابه
Liquidity and Asset Returns Under Asymmetric Information and Imperfect Competition
We analyze how asymmetric information and imperfect competition affect liquidity and asset prices. Our model has three periods: agents are identical in the first, become heterogeneous and trade in the second, and consume asset payoffs in the third. We show that asymmetric information in the second period raises ex ante expected asset returns in the first, comparing both to the case where all pr...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1990
ISSN: 1556-5068
DOI: 10.2139/ssrn.2123590