A Stochastic Infinite-horizon Economy with Secured Lending, or Unsecured Lending and Bankruptcy
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چکیده
منابع مشابه
Discussion of “ Interbank Lending , Credit - Risk
The paper by Heider and Hoerova (2009) is ambitious. It studies the interaction between secured interbank lending, unsecured interbank lending, and banks’ portfolio choices. It is motivated by a puzzling empirical observation, namely the “decoupling of secured and unsecured lending rates” in the Great Financial Crisis of 2007–09. The observation made by Heider and Hoerova is that on August 9, 2...
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