This paper presents a model in which collateralized monetary loans are essential as trading instruments. Money and private debt collateralized by real assets complement each other as allocative tools, in an environment with informational and commitment limitations. Illiquid public debt may play a socially beneficial role, when collateral is scarce.

Ferraris, L., Mattesini, F. (2020). Money and Collateral. JOURNAL OF MONEY, CREDIT, AND BANKING, 52(7), 1617-1644 [10.1111/jmcb.12724].

Money and Collateral

Ferraris, Leo;Mattesini, Fabrizio
2020-01-01

Abstract

This paper presents a model in which collateralized monetary loans are essential as trading instruments. Money and private debt collateralized by real assets complement each other as allocative tools, in an environment with informational and commitment limitations. Illiquid public debt may play a socially beneficial role, when collateral is scarce.
2020
Pubblicato
Rilevanza internazionale
Articolo
Esperti anonimi
Settore SECS-P/01 - ECONOMIA POLITICA
English
Con Impact Factor ISI
Money; Credit; Collateral; Essentiality
Ferraris, L., Mattesini, F. (2020). Money and Collateral. JOURNAL OF MONEY, CREDIT, AND BANKING, 52(7), 1617-1644 [10.1111/jmcb.12724].
Ferraris, L; Mattesini, F
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2108/218070
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