Bubbly liquidity
We couldn't estimate the reading time for this book.
Author
Contributions
- Tirole, Jean - Contributor
- National Bureau of Economic Research - Contributor
Publication
2011 - National Bureau of Economic Research, Cambridge, MA, Massachusetts
Language
English
Word Count
0 words, Guess
Page Count
0 pages
Physical Format
Electronic resource
Identifiers
- Library of Congress Control Number2011655972
- Open LibraryOL24851647M
Classifications
- LCCHB1
Description
"This paper analyzes the possibility and the consequences of rational bubbles in a dy- namic economy where financially constrained firms demand and supply liquidity. Bub- bles are more likely to emerge, the scarcer the supply of outside liquidity and the more limited the pledgeability of corporate income; they crowd investment in (out) when liquidity is abundant (scarce). We analyze extensions with firm heterogeneity and sto- chastic bubbles"--National Bureau of Economic Research web site.
Subjects
Series Statement
- NBER working paper series -- working paper 16750
- Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16750.
Reader Reviews
No reviews yet for this book.
Be the first to share your thoughts!