Collateral and the efficiency of monetary policy

DOI10.1007/S00199-014-0857-4MaRDI QIDQ2354547zbMATH OpenOpenAlexFDO

Authors M. Udara Peiris, Alexandros P. Vardoulakis

Publication date 20 July 2015

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-014-0857-4

zbMATH Keywords

collateralinflationmonetary policy

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) General equilibrium theory (91B50) Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Optimal monetary policy in a collateralized economy
• Regulating collateral-requirements when markets are incomplete
• Collateral secured loans in a monetary economy
• Collateral equilibrium. I: A basic framework
• Collateral premia and risk sharing under limited commitment

Cites work

• A model to analyse financial fragility
• A Quantitative Theory of Unsecured Consumer Credit with Risk of Default
• A strategic market game with a mutual bank with fractional reserves and redemption in gold. A continuum of traders
• A strategic market game with seigniorage costs of fiat money
• Asset prices, debt constraints and inefficiency
• Bankruptcy and firm finance
• Collateral constraints and the amplification mechanism.
• Efficiency, Equilibrium, and Asset Pricing with Risk of Default
• Equilibrium analysis, banking and financial instability.
• Equilibrium asset prices with undiversifiable labor income risk
• Interlinkages between payment and securities settlement systems
• Liquidity-saving mechanisms in collateral-based RTGS payment systems
• Money and Interest in a Cash-in-Advance Economy
• Optimal loan-to-value ratio and the efficiency gains of default
• Perils of unconventional monetary policy
• Private payment systems, collateral, and interest rates
• State prices, liquidity, and default
• The Relationship Between Education and Adult Mortality in the United States
• The transactions cost of money (a strategic market game analysis)

Cited in

(13)

• Monetary policy in a financial crisis
• Quantitative easing and the loan to collateral value ratio
• Collateral misrepresentation, external auditing, and optimal supervisory policy
• Optimal monetary policy in a collateralized economy
• On default and uniqueness of monetary equilibria
• COORDINATION, CREDIT, AND AN ELASTIC CURRENCY
• Collateral in banking policy: on the possibility of signaling
• Deposit Collateral and the Role of Banks *
• Optimal loan-to-value ratio and the efficiency gains of default
• Lending Relationships and Optimal Monetary Policy
• A Theory of Collateral for the Lender of Last Resort*
• Rothschild/Stiglitz dominance and (in)compatibility of collateral in the presence of ex ante hidden information
• Collateral secured loans in a monetary economy

This page was built for publication: Collateral and the efficiency of monetary policy

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2354547)