Fire Sales in a Model of Complexity

Material TypeArticleLanguageEnglish
TitleFire Sales in a Model of Complexity Author(S)RICARDO J. CABALLERO (Author)
Abstract  We present a model of financial crises that stem from endogenous complexity. We conceptualize complexity as banks' uncertainty about the financial network of cross exposures ...Paginationp2549-2588
SubjectEconomicsDescriptorsFinance
Journal TitleThe Journal of Finance  
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