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Preview of Financial Intermediation
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📊 Size: 168 KB
📄 Pages: 41 pages
⬇️ Downloads: 92

Summary

The paper examines transitions among intragenerational and intergenerational financing and liquidity risk-sharing mechanisms in an Overlapping Generations model with endogenous levels of long-lived investments, establishing the existence and characterization of a Self-Sustaining Mechanism and showing that the long-run equilibrium outcome depends on agents' risk-aversion and propensity for early liquidity needs.

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Description

The paper examines transitions among intragenerational and intergenerational financing and liquidity risk-sharing mechanisms in an Overlapping Generations...

Technical Information

  • File Format: PDF
  • File Size: 168 KB
  • Pages: 41
  • Language: EN
  • Total Downloads: 92
  • Last Updated: 1 week ago

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