Fire Sales And The Financial Accelerator
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| Google books | books.google.com |
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| Originally published | 2005 |
| Authors | Woon Gyu Choi |
| David Cook | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2385445 |
About Fire Sales And The Financial Accelerator
During periods of financial turmoil, increases in risk lead to higher default, foreclosure, and fire sales. This paper introduces a costly liquidation process for foreclosed collateral and endogenous recovery rates in a dynamic stochastic general equilibrium model of the financial accelerator. . . .