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  • 2015
  • Working Paper

Collateral Shortages and Intermediation Networks
By: Marco Di Maggio and Alireza Tahbaz-Salehi
This paper argues that in the presence of trading frictions and agency problems, the interbank market may be overly fragile, in the sense that small changes in the liquidity of assets used as collateral may lead to large swings in haircuts and a potential credit...  View Details
Keywords: Financial Intermediation; Financial Networks; Secured Lending; Collateral; Repo Runs; ABCP Collapse; Networks; Negotiation; Financing and Loans; Financial Crisis
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