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. 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 (October 2020)), 1617-1644 [10.1111/jmcb.12724].

Money and Collateral

Ferraris, L
;
2020

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. Public debt may play a socially beneficial role when collateral is scarce.
No
Articolo in rivista - Articolo scientifico
Scientifica
Collateral; credit; essentiality; money;
English
1617
1644
28
Ferraris, L., & Mattesini, F. (2020). Money and Collateral. JOURNAL OF MONEY, CREDIT, AND BANKING, 52(7 (October 2020)), 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: http://hdl.handle.net/10281/311140
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